Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.010%

Price spread now: gTrade (Gains Network) against Bybit−0.472%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 2 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and gTrade (Gains Network) is 0.472% cheaper against Bybit than usual: you would sell low and buy high (−$47 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	89.669	0	get 0.0000% / 8h	5h 45m	$27.1M	$109.2M	150x
Short	gTrade (Gains Network) WTI/USD	89.246	L −0.0001% / S +0.0036%	pay 0.0004% / 1h	45m 02s	$607	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. 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 BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.472%Rate

Funding earned: −$7.5
Price spread: −0.472% → 0.000%: −$47.17
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 4 bp × 2 orders: −$8
Net: −$73.68
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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 Bybit live order book, 2 min ago	0.56 bp	6.7 bp −$7	8.6 bp −$86	19.8 bp −$1,976	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0341%	1h	89.681	+0.013%	$320K	$1.8M	25x	as long as short
Aster CLUSD1	−0.0125%	4h	89.705	+0.040%	$24.4M	$72.0M	20x	as long as short
Bitget CLUSDT	−0.0106%	4h	89.652	−0.019%	$40.8M	$56.9M	100x	as long as short
GRVT CL_USDT_Perp	−0.0106%	4h	89.325	−0.383%	$66K	$632K	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0085%	1h	89.620	−0.055%	$39K	$655K	15x	as long as short
Binance CLUSDT	−0.0080%	4h	89.660	−0.010%	$241.4M	$1.21B	100x	as long as short
tradeXYZ xyz:CL	−0.0076%	1h	89.617	−0.058%	$166.5M	$246.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0068%	1h	89.508	−0.179%	$1K	$26K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0066%	1h	89.660	−0.010%	$3.4M	$6.3M	20x	as long as short
Variational Omni CL	−0.0056%	4h	89.472	−0.219%	$12.5M	$11.4M	—	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0055%	8h	89.550	−0.133%	$23.1M	$54.0M	100x	as long as short
Extended WTI-USD	−0.0048%	1h	89.680	+0.012%	$1.3M	$14.5M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.700	+0.035%	$410K	$1.5M	15x	as long as short
QFEX CL-USD	−0.0025%	1h	89.670	+0.001%	$2.2M	$2.8M	10x	as long as short
Nado WTI-PERP	−0.0025%	1h	89.726	+0.063%	$875K	$689K	10x	as long as short
OKX CL-USDT-SWAP	−0.0024%	4h	89.650	−0.021%	$39.9M	$133.0M	50x	as long as short
edgeX CLUSDC	−0.0023%	4h	89.388	−0.314%	$494K	$385K	30x	as long as short
gTrade (Gains Network) WTI/USDshort	L −0.0001% / S +0.0036%	1h	89.246	−0.472%	$607	—	150x
dYdX WTI-USD	0.0000%	1h	89.709	+0.044%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	89.669	long leg	$27.1M	$109.2M	150x
RISEx CL/USDC	0.0000%	1h	89.752	+0.093%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.470	−0.222%	$32K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.630	−0.043%	$17K	$237K	10x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	89.644	−0.028%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	89.594	−0.084%	$10.6M	$10.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.390	−0.311%	$689K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.630	−0.043%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.668	−0.001%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.600	−0.077%	$2.0M	$84K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.657	−0.013%	$300K	$737K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.622	−0.052%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.370	−0.333%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.589	−0.089%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0004%	1h	89.605	−0.071%	$77K	—	111x	as long as short
BloFin CL-USDT	+0.0216%	4h	89.580	−0.099%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.522%	$16K	$5K	30x	as long as short