Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h +0.009%

Price spread now: Extended against Bybit+0.062%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs+$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.576%+$58 on $10k

Price spread, last 7 days−0.074%−$7 · spread now +0.062%, 7d avg −0.023%

Together, before fees+0.503%+ Points / potential airdropExtended: Active · farm board+$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.085% dearer against Bybit than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of −0.023%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days. Mind the row above: over the last 7 days funding on this pair paid +0.576%, 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	91.783	0	get 0.0000% / 8h	1h 45m	$25.2M	$98.4M	150x
Short	Extended WTI-USD	91.840	−0.0024	pay 0.0003% / 1h	45m 21s	$2.0M	$29.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$5.04
Price spread: +0.062% → −0.023%: $8.47
Slippage, 4 orders: −$2.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$15.26
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Extended: 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, 4 min ago	0.55 bp	6.0 bp −$6	8.1 bp −$81	17.1 bp −$1,708	doesn't fit
Sell Extended live order book, 4 min ago	0.05 bp	3.5 bp −$3	7.2 bp −$72	24.7 bp −$2,475	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
ApeX Omni CLUSDT	−0.0408%	1h	91.820	+0.040%	$55K	$266K	50x	as long as short
Lighter WTI	−0.0328%	1h	91.746	−0.040%	$11.0M	$11.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0294%	1h	91.790	+0.008%	$95K	$260K	15x	as long as short
Nado WTI-PERP	−0.0229%	1h	91.849	+0.072%	$908K	$755K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0212%	1h	91.740	−0.047%	$3.5M	$6.5M	20x	as long as short
tradeXYZ xyz:CL	−0.0206%	1h	91.796	+0.014%	$184.9M	$285.5M	20x	as long as short
Bullet WTIOIL-USD	−0.0173%	1h	91.778	−0.005%	$19K	$240K	10x	as long as short
Aftermath Perps WTIUSD	−0.0141%	1h	91.775	−0.009%	$2K	$30K	5x	as long as short
Paradex CL-USD-PERP	−0.0082%	8h	91.756	−0.029%	$15K	$367	5x	as long as short
Polymarket Perps WTIOIL-USD	−0.0038%	1h	91.772	−0.012%	$1.6M	$1.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USDshort	−0.0024%	1h	91.840	+0.062%	$2.0M	$29.2M	10x
Aster CLUSD1	0.0000%	4h	91.780	−0.003%	$23.9M	$78.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	91.787	+0.004%	$8K	$3K	5x	as long as short
Binance CLUSDT	0.0000%	4h	91.776	−0.007%	$245.1M	$1.13B	100x	as long as short
Bybit CLUSDTlong	0.0000%	8h	91.783	long leg	$25.2M	$98.4M	150x
OKX CL-USDT-SWAP	0.0000%	4h	91.770	−0.014%	$43.0M	$114.5M	50x	as long as short
QFEX CL-USD	0.0000%	1h	91.760	−0.025%	$2.4M	$2.7M	10x	as long as short
Gate CL_USDT	0.0000%	8h	91.730	−0.058%	$21.2M	$58.8M	100x	as long as short
Bitget CLUSDT	0.0000%	4h	91.780	−0.003%	$42.0M	$64.4M	100x	as long as short
Variational Omni CL	0.0000%	4h	91.756	−0.029%	$13.4M	$14.5M	—	as long as short
GRVT CL_USDT_Perp	0.0000%	4h	91.751	−0.035%	$58K	$734K	25x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.376	−0.443%	$40K	—	10x	as long as short
Phoenix WTIOIL	+0.0009%	1h	91.820	+0.040%	$33K	$99K	20x	as long as short
edgeX CLUSDC	+0.0010%	4h	91.766	−0.019%	$528K	$342K	30x	as long as short
StandX CL-USD	+0.0040%	1h	91.720	−0.069%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	91.880	+0.106%	—	$243K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.760	−0.025%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	91.773	−0.010%	$332K	$572K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	91.792	+0.010%	$7.3M	$2.0M	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.746	−0.040%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	91.720	−0.069%	$384K	$1.2M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	101.08	+10.127%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0211% / S −0.0127%	1h	91.765	−0.020%	$76K	—	29x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.770	−0.014%	$4.0M	$1.5M	50x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0451%	1h	91.801	+0.020%	$256K	$1.2M	25x	as long as short
RISEx CL/USDC	+0.0977%	1h	91.881	+0.107%	$3.2M	$2.7M	20x	as long as short