Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0065%/8h= −7.2% APRpaid last 24h −0.013%

Price spread now: tradeXYZ against Bybit−0.017%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.254%+$25 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.017%, 7d avg −0.006%

Together, before fees+0.266%+ Points / potential airdroptradeXYZ: Active · farm board+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.254%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	92.930	0	get 0.0000% / 8h	5h 23m	$26.7M	$81.0M	150x
Short	tradeXYZ xyz:CL	92.914	−0.0065	pay 0.0008% / 1h	23m 01s	$184.7M	$217.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$13.73
Price spread: −0.017% → −0.006%: −$1.12
Slippage, 4 orders: −$2.23
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$46.09
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; tradeXYZ: live order book, 6 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 Bybit live order book, 1 min ago	0.54 bp	6.0 bp −$6	7.4 bp −$74	15.0 bp −$1,504	85.0 bp −$42.5K
Sell tradeXYZ live order book, 6 min ago	0.05 bp	9.1 bp −$9	9.1 bp −$91	11.0 bp −$1,100	doesn't fit

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	−0.0503%	1h	92.880	−0.054%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0253%	4h	92.920	−0.011%	$23.9M	$68.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0236%	4h	92.878	−0.056%	$61K	$625K	25x	as long as short
Binance CLUSDT	−0.0206%	4h	92.920	−0.011%	$244.7M	$952.5M	100x	as long as short
Variational Omni CL	−0.0202%	4h	92.856	−0.080%	$13.6M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0166%	1h	92.870	−0.065%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0154%	1h	92.981	+0.055%	$962K	$659K	10x	as long as short
Gate CL_USDT	−0.0083%	8h	92.870	−0.065%	$20.9M	$52.7M	100x	as long as short
tradeXYZ xyz:CLshort	−0.0065%	1h	92.914	−0.017%	$184.7M	$217.3M	20x
OKX CL-USDT-SWAP	−0.0059%	4h	92.910	−0.022%	$42.9M	$102.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0051%	1h	92.890	−0.043%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.194%	$402K	$944K	15x	as long as short
edgeX CLUSDC	−0.0033%	4h	92.877	−0.057%	$529K	$302K	30x	as long as short
QFEX CL-USD	−0.0032%	1h	92.890	−0.043%	$2.5M	$1.7M	10x	as long as short
Extended WTI-USD	−0.0032%	1h	92.950	+0.022%	$2.1M	$22.5M	10x	as long as short
Lighter WTI	0.0000%	1h	92.917	−0.014%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.007%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	92.930	long leg	$26.7M	$81.0M	150x
Bitget CLUSDT	0.0000%	4h	92.914	−0.017%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.910	−0.022%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.916	−0.015%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.473	−0.492%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	92.899	−0.033%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0030%	4h	92.912	−0.019%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.430	−0.538%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	−0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.924	−0.006%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.910	−0.022%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.022	+0.098%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.922	−0.009%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.930	0.000%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.875	−0.059%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.953	+0.025%	$274K	$872K	25x	as long as short
BloFin CL-USDT	+0.0182%	4h	92.870	−0.065%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.915	−0.016%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.711%	$19K	$11K	30x	as long as short