Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0161%/8h= −17.7% APRpaid last 24h −0.027%

Price spread now: Binance against Bybit+0.010%7-day average +0.024% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 7 days+0.024%+$2 · spread now +0.010%, 7d avg +0.024%

Together, before fees+0.217%+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.194%, 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	93.164	0	get 0.0000% / 8h	36m 36s	$26.7M	$79.1M	150x
Short	Binance CLUSDT	93.173	−0.0161	pay 0.0081% / 4h	36m 36s	$246.8M	$921.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.010%Rate

Funding earned: −$33.89
Price spread: +0.010% → +0.024%: −$1.41
Slippage, 4 orders: −$2.2
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$58.5
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Binance: live order book, 7 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, 2 min ago	0.54 bp	6.1 bp −$6	8.0 bp −$80	16.2 bp −$1,620	80.9 bp −$40.5K
Sell Binance live order book, 7 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.2 bp −$824	23.1 bp −$11.6K

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	−0.0394%	1h	93.170	+0.006%	$195K	$393K	15x	as long as short
Aster CLUSD1	−0.0288%	4h	93.190	+0.028%	$24.7M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.210	+0.049%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.196	+0.034%	$275K	$938K	25x	as long as short
Binance CLUSDTshort	−0.0161%	4h	93.173	+0.010%	$246.8M	$921.0M	100x
Variational Omni CL	−0.0151%	4h	93.187	+0.025%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0128%	8h	93.120	−0.047%	$22.9M	$49.1M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.154	−0.011%	$42.2M	$41.6M	100x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.240	+0.081%	$2K	$26K	5x	as long as short
edgeX CLUSDC	−0.0095%	4h	93.207	+0.046%	$524K	$305K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WTI-PERP	−0.0091%	1h	93.219	+0.059%	$955K	$623K	10x	as long as short
OKX CL-USDT-SWAP	−0.0067%	4h	93.140	−0.026%	$42.7M	$102.7M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.170	+0.006%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0030%	1h	93.178	+0.015%	$184.0M	$199.5M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0018%	1h	93.170	+0.006%	$3.6M	$5.3M	20x	as long as short
Lighter WTI	−0.0016%	1h	93.171	+0.008%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.404%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0002%	8h	93.146	−0.019%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.162	−0.002%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.164	long leg	$26.7M	$79.1M	150x
RISEx CL/USDC	0.0000%	1h	93.200	+0.039%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.290	+0.135%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.186	+0.023%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.737	−0.458%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	93.190	+0.028%	$1.6M	$14.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.220	+0.060%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.190	+0.028%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.164	0.000%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.193	+0.031%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.173	+0.010%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.205	+0.044%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.200	+0.039%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.168	+0.004%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0173%	4h	93.180	+0.017%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.45	+9.967%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0190%	1h	93.195	+0.033%	$83K	—	111x	as long as short