Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.016%

Price spread now: Bybit against RISEx−0.094%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$190.192% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.198%−$20 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.094%, 7d avg −0.054%

Together, before fees−0.170%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.040% cheaper against RISEx than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.054%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CL/USDC	93.058	0.0066	pay 0.0008% / 1h	59m 32s	$3.3M	$2.7M	20x
Short	Bybit CLUSDT	92.970	0	get 0.0000% / 8h	5h 59m	$27.0M	$81.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee RISExbpFee BybitbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$13.86
Price spread: −0.094% → −0.054%: −$4.05
Slippage, 4 orders: −$2.21
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.12
Costs to cover: 0.192%
Break-even: never at this rate

Slippage from RISEx: live order book, 4 min ago; Bybit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy RISEx live order book, 4 min ago	0.54 bp	3.5 bp −$4	4.6 bp −$46	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.54 bp	6.1 bp −$6	7.5 bp −$75	16.4 bp −$1,640	104.4 bp −$52.2K

CL on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit WTIOIL_USDC-PERPETUAL	−0.0503%	1h	92.900	−0.169%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0245%	4h	92.963	−0.102%	$24.0M	$71.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0220%	4h	92.836	−0.238%	$53K	$623K	25x	as long as short
Binance CLUSDT	−0.0214%	4h	92.949	−0.117%	$244.7M	$963.7M	100x	as long as short
Variational Omni CL	−0.0211%	4h	92.799	−0.278%	$13.5M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0106%	1h	92.994	−0.068%	$963K	$669K	10x	as long as short
Gate CL_USDT	−0.0096%	8h	92.880	−0.191%	$20.9M	$51.9M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.330%	$402K	$946K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.975	−0.088%	$274K	$883K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.920	−0.148%	$2.5M	$1.7M	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0029%	4h	92.808	−0.268%	$528K	$303K	30x	as long as short
Ondo Perps WTI-USD.P	−0.0022%	1h	92.900	−0.169%	$3.5M	$5.7M	20x	as long as short
Aftermath Perps WTIUSD	−0.0012%	1h	92.888	−0.182%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAP	−0.0004%	4h	92.960	−0.105%	$42.8M	$102.7M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.909	−0.160%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.970	−0.094%	$27.0M	$81.5M	150x
Bitget CLUSDT	0.0000%	4h	92.930	−0.137%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.860	−0.212%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.947	−0.119%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.498	−0.601%	$5K	—	150x	as long as short
tradeXYZ xyz:CL	0.0000%	1h	92.947	−0.119%	$184.7M	$219.4M	20x	as long as short
Lighter WTI	+0.0032%	1h	92.955	−0.110%	$11.2M	$10.2M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.980	−0.083%	$2.1M	$23.7M	10x	as long as short
Paradex CL-USD-PERP	+0.0034%	8h	92.932	−0.135%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.450	−0.653%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.950	−0.116%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.951	−0.114%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.934	−0.133%	$2.1M	$61K	20x	as long as short
RISEx CL/USDClong	+0.0066%	1h	93.058	long leg	$3.3M	$2.7M	20x
KuCoin CLUSDTM	+0.0084%	4h	92.946	−0.120%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.953	−0.112%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.810	−0.266%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.917	−0.151%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.935	−0.132%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.04	+9.648%	$19K	$11K	30x	as long as short