Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0221%/8h= −24.2% APRpaid last 24h −0.069%

Price spread now: Bybit against BloFin+0.016%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.567%−$57 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.016%, 7d avg +0.016%

Together, before fees−0.527%−$53 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin CL-USDT	93.640	0.0221	pay 0.0111% / 4h	1h 24m	$4.0M	$971K	50x
Short	Bybit CLUSDT	93.655	0	get 0.0000% / 8h	1h 24m	$27.0M	$79.0M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$46.49
Price spread: +0.016% → +0.016%: $0.04
Slippage, 4 orders: −$4.02
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$73.46
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from BloFin: 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 BloFin live order book, 4 min ago	1.07 bp	7.1 bp −$7	7.5 bp −$75	10.6 bp −$1,057	20.4 bp −$10.2K
Sell Bybit live order book, 4 min ago	0.53 bp	6.9 bp −$7	7.7 bp −$77	17.2 bp −$1,723	110.1 bp −$55.0K

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	−0.0604%	1h	93.610	−0.032%	$196K	$383K	15x	as long as short
Aster CLUSD1	−0.0274%	4h	93.687	+0.050%	$24.6M	$65.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0262%	4h	93.658	+0.019%	$58K	$618K	25x	as long as short
Binance CLUSDT	−0.0148%	4h	93.654	+0.015%	$247.1M	$917.0M	100x	as long as short
Aftermath Perps WTIUSD	−0.0142%	1h	93.663	+0.025%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.656	+0.017%	$283K	$960K	25x	as long as short
Variational Omni CL	−0.0136%	4h	93.629	−0.012%	$13.5M	$10.6M	—	as long as short
Ondo Perps WTI-USD.P	−0.0123%	1h	93.600	−0.043%	$3.5M	$5.3M	20x	as long as short
Gate CL_USDT	−0.0110%	8h	93.570	−0.075%	$22.5M	$49.5M	100x	as long as short
Bitget CLUSDT	−0.0104%	4h	93.634	−0.006%	$42.3M	$42.0M	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	−0.0076%	1h	93.639	−0.001%	$185.2M	$205.0M	20x	as long as short
Nado WTI-PERP	−0.0055%	1h	93.681	+0.044%	$966K	$620K	10x	as long as short
edgeX CLUSDC	−0.0037%	4h	93.643	+0.003%	$526K	$305K	30x	as long as short
QFEX CL-USD	−0.0023%	1h	93.640	0.000%	$2.3M	$2.4M	10x	as long as short
OKX CL-USDT-SWAP	−0.0020%	4h	93.640	0.000%	$43.0M	$101.8M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.150%	$404K	$916K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.729	+0.095%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	93.655	+0.016%	$27.0M	$79.0M	150x
RISEx CL/USDC	0.0000%	1h	93.701	+0.065%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.730	+0.096%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.640	0.000%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.189	−0.482%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	93.642	+0.002%	$11.3M	$9.6M	20x	as long as short
Paradex CL-USD-PERP	+0.0022%	8h	93.624	−0.017%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.700	+0.064%	$2.0M	$15.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.680	+0.043%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.660	+0.021%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.633	−0.007%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.643	+0.003%	$2.1M	$61K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.643	+0.003%	$333K	$574K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.683	+0.046%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.750	+0.117%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.612	−0.030%	$4K	—	10x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.97	+9.967%	$19K	$11K	30x	as long as short
BloFin CL-USDTlong	+0.0221%	4h	93.640	long leg	$4.0M	$971K	50x
GMX WTIOIL/USD [ETH-USDC]	L +0.0246% / S −0.0180%	1h	93.695	+0.059%	$84K	—	111x	as long as short