Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.019%

Price spread now: Bybit against Aftermath Perps−0.096%53s7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Bybit is 0.096% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.096% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 4.4 days of funding at the current rate (+$2 a day). The two prices were read 53 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	Aftermath Perps WTIUSD	92.810	−0.0072	get 0.0009% / 1h	32m 38s	$2K	$26K	5x
Short	Bybit CLUSDT	92.721	0	get 0.0000% / 8h	7h 32m	$27.4M	$81.6M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aftermath Perps. 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 Aftermath PerpsbpFee BybitbpOrdersPrice spread, now −0.096%Rate

Funding earned: $15.18
Price spread: −0.096% → 0.000%: −$9.56
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$14.38
Costs to cover: 0.200%
Break-even: 13.6 days

Slippage unknown: Aftermath Perps: no order-book sample; Bybit: live order book, 1 min ago. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.54 bp	6.1 bp −$6	7.9 bp −$79	20.6 bp −$2,059	127.4 bp −$63.7K

Aftermath Perps: 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 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	−0.0396%	1h	92.780	−0.032%	$187K	$410K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0314%	1h	92.804	−0.006%	$271K	$934K	25x	as long as short
Aster CLUSD1	−0.0228%	4h	92.738	−0.077%	$24.8M	$60.6M	20x	as long as short
Gate CL_USDT	−0.0168%	8h	92.680	−0.140%	$23.4M	$49.7M	100x	as long as short
Binance CLUSDT	−0.0126%	4h	92.720	−0.097%	$245.5M	$930.3M	100x	as long as short
Variational Omni CL	−0.0113%	4h	92.780	−0.032%	$13.5M	$10.7M	—	as long as short
Nado WTI-PERP	−0.0100%	1h	92.802	−0.008%	$950K	$600K	10x	as long as short
GRVT CL_USDT_Perp	−0.0094%	4h	92.734	−0.081%	$75K	$624K	25x	as long as short
Bitget CLUSDT	−0.0078%	4h	92.735	−0.081%	$42.2M	$41.6M	100x	as long as short
Aftermath Perps WTIUSDlong	−0.0072%	1h	92.810	long leg	$2K	$26K	5x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0063%	4h	92.758	−0.056%	$541K	$342K	30x	as long as short
OKX CL-USDT-SWAP	−0.0050%	4h	92.690	−0.129%	$42.5M	$102.6M	50x	as long as short
QFEX CL-USD	−0.0026%	1h	92.710	−0.107%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0017%	1h	92.761	−0.052%	$184.1M	$192.2M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.833	+0.025%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.721	−0.096%	$27.4M	$81.6M	150x
RISEx CL/USDC	0.0000%	1h	92.778	−0.034%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.818	+0.009%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.335	−0.512%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.850	+0.043%	$37K	$39K	20x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	92.725	−0.091%	$16K	$367	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.610	−0.215%	$412K	$831K	15x	as long as short
Ondo Perps WTI-USD.P	+0.0030%	1h	92.720	−0.097%	$3.6M	$5.2M	20x	as long as short
Lighter WTI	+0.0032%	1h	92.737	−0.078%	$11.3M	$8.8M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.770	−0.043%	$1.7M	$14.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.830	+0.022%	$731K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.790	−0.021%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.825	+0.016%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.795	−0.016%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.748	−0.066%	$346K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.777	−0.035%	$7.1M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	+0.054%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.786	−0.025%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S −0.0007%	1h	92.805	−0.005%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0189%	4h	92.780	−0.032%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+10.047%	$19K	$5K	30x	as long as short