Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Bybit against Bullet−0.084%54s7-day average −0.004% · 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—prices read too far apart to compare

costs, in and out, $10k−$280.284% of the position

Long on Bullet Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$6 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.084%, 7d avg −0.004%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.079% cheaper against Bullet than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.004%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet WTIOIL-USD	93.568	0	get 0.0000% / 1h	15m 38s	$19K	$240K	10x
Short	Bybit CLUSDT	93.490	0	get 0.0000% / 8h	1h 15m	$26.8M	$79.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bullet. 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 BulletbpFee BybitbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.004%: −$7.95
Slippage, 4 orders: −$9.38
Fee Bullet: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.33
Costs to cover: 0.284%
Break-even: never at this rate

Slippage from Bullet: live order book, 28 min ago; Bybit: live order book, 3 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 Bullet live order book, 28 min ago	1.55 bp	8.7 bp −$9	17.2 bp −$172	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.53 bp	6.2 bp −$6	7.4 bp −$74	15.9 bp −$1,593	94.0 bp −$47.0K

CL on 36 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	−0.0498%	1h	93.520	−0.052%	$196K	$385K	15x	as long as short
Aster CLUSD1	−0.0285%	4h	93.527	−0.044%	$24.6M	$65.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0278%	4h	93.509	−0.063%	$58K	$618K	25x	as long as short
Binance CLUSDT	−0.0153%	4h	93.482	−0.093%	$247.5M	$917.9M	100x	as long as short
Variational Omni CL	−0.0143%	4h	93.519	−0.053%	$13.3M	$10.7M	—	as long as short
Aftermath Perps WTIUSD	−0.0139%	1h	93.592	+0.025%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.570	+0.002%	$282K	$961K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0134%	1h	93.470	−0.105%	$3.5M	$5.3M	20x	as long as short
Gate CL_USDT	−0.0120%	8h	93.430	−0.148%	$22.5M	$50.1M	100x	as long as short
Bitget CLUSDT	−0.0116%	4h	93.500	−0.073%	$42.3M	$42.2M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0080%	1h	93.511	−0.061%	$184.8M	$205.1M	20x	as long as short
Nado WTI-PERP	−0.0057%	1h	93.571	+0.002%	$965K	$619K	10x	as long as short
OKX CL-USDT-SWAP	−0.0037%	4h	93.470	−0.105%	$42.8M	$101.9M	50x	as long as short
edgeX CLUSDC	−0.0035%	4h	93.575	+0.007%	$526K	$306K	30x	as long as short
QFEX CL-USD	−0.0023%	1h	93.490	−0.084%	$2.3M	$2.4M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.073%	$404K	$916K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.562	−0.006%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	93.490	−0.084%	$26.8M	$79.1M	150x
RISEx CL/USDC	0.0000%	1h	93.599	+0.033%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.620	+0.055%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	93.568	long leg	$19K	$240K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.141	−0.457%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	93.507	−0.066%	$11.3M	$9.7M	20x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.500	−0.073%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.560	−0.009%	$2.0M	$15.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.620	+0.055%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.570	+0.002%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.556	−0.013%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.540	−0.030%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.507	−0.065%	$333K	$573K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.575	+0.007%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.570	+0.002%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.536	−0.035%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0207%	4h	93.570	+0.002%	$4.0M	$970K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.82	+9.886%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0248% / S −0.0182%	1h	93.555	−0.014%	$84K	—	111x	as long as short