Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0160%/8h= +17.5% APRpaid last 24h +0.069%

Price spread now: BloFin against Bybit−0.064%52s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.252% of the position

Long on Bybit Short on BloFin

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)+0.016%+$2 · spread now −0.064%, 7d avg −0.016%

Together, before fees+0.583%+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.048% cheaper against Bybit than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of −0.016%). If the spread goes back, that is −$5 on $10k: about 24 hours of funding at the current rate (+$5 a day). The two prices were read 52 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	Bybit CLUSDT	93.100	0	get 0.0000% / 8h	10m 19s	$27.0M	$79.4M	150x
Short	BloFin CL-USDT	93.040	0.0160	get 0.0080% / 4h	10m 19s	$4.1M	$983K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.064%Rate

Funding earned: $33.52
Price spread: −0.064% → −0.016%: −$4.82
Slippage, 4 orders: −$2.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: $3.55
Costs to cover: 0.252%
Break-even: 6.3 days

Slippage from Bybit: live order book, 4 min ago; BloFin: live order book, 3 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, 4 min ago	0.54 bp	6.0 bp −$6	7.4 bp −$74	15.3 bp −$1,534	78.5 bp −$39.3K
Sell BloFin live order book, 3 min ago	0.54 bp	6.5 bp −$7	7.3 bp −$73	11.5 bp −$1,154	27.9 bp −$13.9K

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	93.060	−0.043%	$194K	$397K	15x	as long as short
Aster CLUSD1	−0.0267%	4h	93.110	+0.011%	$24.8M	$62.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.930	−0.183%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	93.085	−0.016%	$276K	$929K	25x	as long as short
Binance CLUSDT	−0.0147%	4h	93.080	−0.021%	$247.1M	$921.0M	100x	as long as short
Variational Omni CL	−0.0136%	4h	93.053	−0.050%	$13.5M	$10.6M	—	as long as short
Gate CL_USDT	−0.0135%	8h	93.010	−0.097%	$23.1M	$50.5M	100x	as long as short
Bitget CLUSDT	−0.0112%	4h	93.061	−0.042%	$42.3M	$41.4M	100x	as long as short
Nado WTI-PERP	−0.0111%	1h	93.131	+0.034%	$954K	$614K	10x	as long as short
Aftermath Perps WTIUSD	−0.0097%	1h	93.025	−0.081%	$1K	$26K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0078%	4h	93.070	−0.032%	$42.7M	$102.8M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.060	−0.043%	$2.3M	$2.4M	10x	as long as short
edgeX CLUSDC	−0.0021%	4h	93.014	−0.092%	$523K	$306K	30x	as long as short
tradeXYZ xyz:CL	−0.0018%	1h	93.071	−0.031%	$184.3M	$198.1M	20x	as long as short
Lighter WTI	−0.0016%	1h	93.062	−0.041%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.473%	$405K	$810K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0008%	1h	93.040	−0.064%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.077	−0.025%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.100	long leg	$27.0M	$79.4M	150x
RISEx CL/USDC	0.0000%	1h	93.094	−0.006%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	−0.161%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.081	−0.021%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.624	−0.511%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	93.053	−0.050%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.090	−0.011%	$1.7M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.110	+0.011%	$738K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.070	−0.032%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.074	−0.028%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.069	−0.033%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.083	−0.019%	$347K	$591K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.099	−0.001%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.950	−0.161%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.059	−0.044%	$4K	—	10x	as long as short
BloFin CL-USDTshort	+0.0160%	4h	93.040	−0.064%	$4.1M	$983K	50x
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.704%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0259% / S −0.0206%	1h	93.075	−0.027%	$84K	—	111x	as long as short