Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.009%

Price spread now: Bybit against Extended−0.054%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.574%−$57 on $10k

Price spread, last 7 days+0.061%+$6 · spread now −0.054%, 7d avg +0.022%

Together, before fees−0.514%+ Points / potential airdropExtended: Active · farm board−$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.076% cheaper against Extended than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WTI-USD	92.150	0.0024	pay 0.0003% / 1h	44m 48s	$2.0M	$27.5M	10x
Short	Bybit CLUSDT	92.100	0	get 0.0000% / 8h	44m 48s	$25.7M	$94.8M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$5.04
Price spread: −0.054% → +0.022%: −$7.63
Slippage, 4 orders: −$2.34
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$31.01
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Extended: 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 Extended live order book, 4 min ago	0.05 bp	3.4 bp −$3	6.1 bp −$61	23.1 bp −$2,314	doesn't fit
Sell Bybit live order book, 4 min ago	0.54 bp	6.0 bp −$6	7.6 bp −$76	17.7 bp −$1,770	114.5 bp −$57.3K

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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.067	−0.090%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.070	−0.087%	$96K	$189K	15x	as long as short
GRVT CL_USDT_Perp	−0.0290%	4h	91.994	−0.170%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0224%	4h	92.100	−0.054%	$24.0M	$77.6M	20x	as long as short
Nado WTI-PERP	−0.0175%	1h	92.096	−0.059%	$923K	$743K	10x	as long as short
Binance CLUSDT	−0.0145%	4h	92.070	−0.087%	$245.4M	$1.10B	100x	as long as short
Ondo Perps WTI-USD.P	−0.0131%	1h	92.000	−0.163%	$3.5M	$6.4M	20x	as long as short
Lighter WTI	−0.0128%	1h	92.070	−0.087%	$11.1M	$10.9M	20x	as long as short
Variational Omni CL	−0.0123%	4h	91.994	−0.170%	$13.4M	$12.7M	—	as long as short
tradeXYZ xyz:CL	−0.0111%	1h	92.096	−0.059%	$185.8M	$275.8M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex CL-USD-PERP	−0.0108%	8h	92.012	−0.150%	$15K	$367	5x	as long as short
Bullet WTIOIL-USD	−0.0078%	1h	92.038	−0.122%	$19K	$241K	10x	as long as short
QFEX CL-USD	−0.0054%	1h	92.030	−0.130%	$2.4M	$2.6M	10x	as long as short
Gate CL_USDT	−0.0022%	8h	92.020	−0.141%	$21.3M	$57.5M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.030	−0.130%	$332K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	−0.046%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.100	−0.054%	$25.7M	$94.8M	150x
OKX CL-USDT-SWAP	0.0000%	4h	92.080	−0.076%	$43.1M	$113.1M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.152	+0.002%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.060	−0.098%	$41.9M	$51.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.070	−0.087%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.130%	$399K	$984K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.641	−0.552%	$4K	—	150x	as long as short
Extended WTI-USDlong	+0.0024%	1h	92.150	long leg	$2.0M	$27.5M	10x
Polymarket Perps WTIOIL-USD	+0.0025%	1h	92.032	−0.128%	$1.6M	$1.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	91.990	−0.174%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.090	−0.065%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.055	−0.103%	$2.0M	$39K	20x	as long as short
Aftermath Perps WTIUSD	+0.0053%	1h	92.027	−0.134%	$2K	$29K	5x	as long as short
edgeX CLUSDC	+0.0068%	4h	92.022	−0.139%	$529K	$335K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.071	−0.086%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.050	−0.109%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.020	−0.141%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.035	−0.125%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+9.902%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.010	−0.152%	$4.0M	$1.4M	50x	as long as short