Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Bybit−0.075%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$540.542% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.503%+$50 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.075%, 7d avg +0.001%

Together, before fees+0.586%+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.077% cheaper against Bybit than usual: you would sell low and buy high (spread −0.075% now, against its 7-day average of +0.001%). If the spread goes back, that is −$8 on $10k: about 2.6 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.503% in total) that is about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	93.050	0	get 0.0000% / 8h	5h 02m	$26.7M	$81.0M	150x
Short	ApeX Omni CLUSDT	92.980	0.0100	get 0.0013% / 1h	2m 55s	$56K	$265K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.075%Rate

Funding earned: $21
Price spread: −0.075% → +0.001%: −$7.66
Slippage, 4 orders: −$33.24
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$40.9
Costs to cover: 0.542%
Break-even: 20.6 days

Slippage from Bybit: live order book, 1 min ago; ApeX Omni: live order book, 59 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	7.1 bp −$7	7.7 bp −$77	14.7 bp −$1,468	83.4 bp −$41.7K
Sell ApeX Omni live order book, 59 min ago	8.62 bp	20.2 bp −$20	210.6 bp −$2,106	doesn't fit	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	−0.0502%	1h	93.020	−0.032%	$199K	$369K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.020	−0.032%	$24.0M	$68.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	92.964	−0.092%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0207%	4h	93.020	−0.032%	$244.8M	$953.4M	100x	as long as short
Variational Omni CL	−0.0200%	4h	92.957	−0.100%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0166%	1h	93.040	−0.011%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0145%	1h	93.142	+0.099%	$963K	$654K	10x	as long as short
Extended WTI-USD	−0.0088%	1h	93.060	+0.011%	$2.1M	$22.0M	10x	as long as short
OKX CL-USDT-SWAP	−0.0082%	4h	93.020	−0.032%	$42.6M	$102.9M	50x	as long as short
tradeXYZ xyz:CL	−0.0075%	1h	93.021	−0.031%	$185.1M	$217.3M	20x	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	−0.0069%	1h	93.009	−0.044%	$2K	$27K	5x	as long as short
Gate CL_USDT	−0.0061%	8h	92.970	−0.086%	$20.9M	$53.3M	100x	as long as short
edgeX CLUSDC	−0.0047%	4h	92.984	−0.071%	$529K	$302K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.322%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.060	+0.011%	$2.5M	$1.7M	10x	as long as short
Bitget CLUSDT	−0.0030%	4h	93.026	−0.026%	$42.0M	$43.6M	100x	as long as short
Lighter WTI	0.0000%	1h	93.031	−0.020%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.099	+0.053%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.050	long leg	$26.7M	$81.0M	150x
Phoenix WTIOIL	0.0000%	1h	93.010	−0.043%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.062	+0.013%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.618	−0.464%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0004%	4h	93.035	−0.016%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	93.069	+0.020%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.060	+0.011%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.080	+0.032%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.072	+0.024%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.040	−0.011%	$2.1M	$60K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.165	+0.124%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	93.089	+0.042%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDTshort	+0.0100%	1h	92.980	−0.075%	$56K	$265K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	93.021	−0.031%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	93.081	+0.034%	$274K	$871K	25x	as long as short
BloFin CL-USDT	+0.0157%	4h	93.060	+0.011%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0209% / S −0.0134%	1h	93.055	+0.005%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.724%	$19K	$11K	30x	as long as short