Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Bybit against ApeX Omni+0.011%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.503%−$50 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.011%, 7d avg −0.001%

Together, before fees−0.521%−$52 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CLUSDT	89.350	0.0100	pay 0.0013% / 1h	2m 56s	$52K	$268K	50x
Short	Bybit CLUSDT	89.360	0	get 0.0000% / 8h	5h 02m	$28.8M	$110.0M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$21
Price spread: +0.011% → −0.001%: $1.24
Slippage, 4 orders: −$33.39
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$74.16
Costs to cover: 0.544%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 42 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 ApeX Omni live order book, 42 min ago	8.92 bp	19.8 bp −$20	177.6 bp −$1,776	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.56 bp	6.5 bp −$7	8.7 bp −$87	19.7 bp −$1,967	104.0 bp −$52.0K

CL on 36 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0342%	1h	89.348	−0.002%	$305K	$1.9M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0198%	1h	89.340	−0.011%	$39K	$649K	15x	as long as short
Aftermath Perps WTIUSD	−0.0145%	1h	89.363	+0.015%	$1K	$26K	5x	as long as short
GRVT CL_USDT_Perp	−0.0104%	4h	89.297	−0.060%	$67K	$645K	25x	as long as short
tradeXYZ xyz:CL	−0.0100%	1h	89.322	−0.031%	$173.9M	$249.1M	20x	as long as short
Bitget CLUSDT	−0.0088%	4h	89.319	−0.035%	$40.7M	$56.7M	100x	as long as short
edgeX CLUSDC	−0.0072%	4h	89.265	−0.095%	$497K	$374K	30x	as long as short
Aster CLUSD1	−0.0069%	4h	89.399	+0.055%	$24.2M	$72.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.760	+0.459%	$416K	$1.5M	15x	as long as short
Ondo Perps WTI-USD.P	−0.0032%	1h	89.300	−0.056%	$3.3M	$6.4M	20x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0025%	1h	89.320	−0.034%	$2.2M	$2.8M	10x	as long as short
Nado WTI-PERP	−0.0024%	1h	89.395	+0.050%	$874K	$682K	10x	as long as short
Binance CLUSDT	−0.0023%	4h	89.330	−0.022%	$241.6M	$1.21B	100x	as long as short
Gate CL_USDT	−0.0013%	8h	89.290	−0.067%	$23.8M	$57.0M	100x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	88.990	−0.403%	$606	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.322	−0.031%	$8K	$4K	5x	as long as short
Extended WTI-USD	0.0000%	1h	89.360	+0.011%	$1.3M	$13.5M	10x	as long as short
Bybit CLUSDTshort	0.0000%	8h	89.360	+0.011%	$28.8M	$110.0M	150x
OKX CL-USDT-SWAP	0.0000%	4h	89.330	−0.022%	$40.3M	$133.8M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	89.406	+0.063%	$2.8M	$3.1M	20x	as long as short
Variational Omni CL	0.0000%	4h	89.221	−0.144%	$12.5M	$11.2M	—	as long as short
Phoenix WTIOIL	0.0000%	1h	89.370	+0.022%	$33K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.347	−0.003%	$18K	$236K	10x	as long as short
Paradex CL-USD-PERP	+0.0026%	8h	89.326	−0.026%	$15K	$458	5x	as long as short
Lighter WTI	+0.0032%	1h	89.363	+0.015%	$10.5M	$11.1M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.330	−0.022%	$689K	$2.7M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.350	0.000%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.327	−0.026%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.355	+0.006%	$2.0M	$84K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.315	−0.039%	$306K	$747K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.354	+0.004%	$6.8M	$3.1M	50x	as long as short
ApeX Omni CLUSDTlong	+0.0100%	1h	89.350	long leg	$52K	$268K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	89.334	−0.018%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0160% / S +0.0023%	1h	89.245	−0.118%	$71K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.881%	$16K	$5K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	89.330	−0.022%	$3.9M	$1.0M	50x	as long as short