Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0130%/8h= −14.2% APRpaid last 24h −0.008%

Price spread now: Bitget against Bybit−0.010%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

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

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.010%, 7d avg +0.012%

Together, before fees+0.167%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bitget is 0.022% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.145%, 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	93.159	0	get 0.0000% / 8h	3h 24m	$26.8M	$80.5M	150x
Short	Bitget CLUSDT	93.150	−0.0130	pay 0.0065% / 4h	3h 24m	$42.0M	$43.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$27.3
Price spread: −0.010% → +0.012%: −$2.2
Slippage, 4 orders: −$3.99
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$56.49
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Bitget: 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 Bybit live order book, 5 min ago	0.54 bp	6.2 bp −$6	7.9 bp −$79	14.2 bp −$1,418	77.0 bp −$38.5K
Sell Bitget live order book, 4 min ago	0.64 bp	7.2 bp −$7	9.5 bp −$95	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	−0.0716%	1h	93.110	−0.053%	$199K	$370K	15x	as long as short
GRVT CL_USDT_Perp	−0.0286%	4h	93.168	+0.010%	$54K	$645K	25x	as long as short
Aster CLUSD1	−0.0268%	4h	93.180	+0.023%	$24.2M	$66.2M	20x	as long as short
Binance CLUSDT	−0.0178%	4h	93.150	−0.010%	$245.7M	$940.5M	100x	as long as short
Variational Omni CL	−0.0162%	4h	93.128	−0.034%	$13.3M	$10.9M	—	as long as short
Bitget CLUSDTshort	−0.0130%	4h	93.150	−0.010%	$42.0M	$43.2M	100x
Ondo Perps WTI-USD.P	−0.0128%	1h	93.080	−0.085%	$3.5M	$5.3M	20x	as long as short
Nado WTI-PERP	−0.0121%	1h	93.220	+0.066%	$964K	$631K	10x	as long as short
Aftermath Perps WTIUSD	−0.0117%	1h	93.162	+0.004%	$2K	$27K	5x	as long as short
Gate CL_USDT	−0.0062%	8h	93.100	−0.063%	$21.2M	$51.4M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.147	−0.013%	$278K	$955K	25x	as long as short
OKX CL-USDT-SWAP	−0.0053%	4h	93.150	−0.010%	$42.6M	$102.8M	50x	as long as short
tradeXYZ xyz:CL	−0.0046%	1h	93.154	−0.005%	$184.4M	$217.5M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	+0.001%	$403K	$929K	15x	as long as short
edgeX CLUSDC	−0.0038%	4h	93.177	+0.019%	$524K	$305K	30x	as long as short
QFEX CL-USD	−0.0033%	1h	93.140	−0.020%	$2.3M	$1.8M	10x	as long as short
Paradex CL-USD-PERP	−0.0022%	8h	93.136	−0.024%	$16K	$367	5x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.210	+0.055%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.173	+0.015%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.159	long leg	$26.8M	$80.5M	150x
RISEx CL/USDC	0.0000%	1h	93.225	+0.071%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.145	−0.015%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.720	−0.471%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0002%	4h	93.165	+0.006%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	+0.0016%	1h	93.166	+0.008%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.220	+0.065%	$2.0M	$18.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.110	−0.053%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.170	+0.012%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.163	+0.004%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.141	−0.019%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.152	−0.008%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.180	+0.023%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.111	−0.051%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0191%	4h	93.150	−0.010%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.51	+10.038%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0222% / S −0.0150%	1h	93.145	−0.015%	$81K	—	111x	as long as short