Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.6% APRpaid last 24h −0.007%

Price spread now: QFEX against Bybit−0.043%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.041%+$4 on $10k

Price spread, last 7 days+0.033%+$3 · spread now −0.043%, 7d avg −0.010%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and QFEX is 0.033% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.010%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	92.890	0	get 0.0000% / 8h	5h 26m	$26.7M	$81.3M	150x
Short	QFEX CL-USD	92.850	−0.0032	pay 0.0004% / 1h	26m 19s	$2.5M	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$6.82
Price spread: −0.043% → −0.010%: −$3.28
Slippage, 4 orders: −$5.65
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$36.76
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; QFEX: live order book, 6 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, 3 min ago	0.54 bp	6.6 bp −$7	8.4 bp −$84	15.3 bp −$1,527	91.3 bp −$45.6K
Sell QFEX live order book, 6 min ago	1.62 bp	6.6 bp −$7	6.6 bp −$66	8.1 bp −$815	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	−0.0503%	1h	92.850	−0.043%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0250%	4h	92.870	−0.022%	$23.9M	$68.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.823	−0.073%	$61K	$625K	25x	as long as short
Binance CLUSDT	−0.0208%	4h	92.871	−0.020%	$244.9M	$954.5M	100x	as long as short
Variational Omni CL	−0.0203%	4h	92.796	−0.101%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0169%	1h	92.830	−0.065%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0157%	1h	92.945	+0.059%	$962K	$662K	10x	as long as short
edgeX CLUSDC	−0.0091%	4h	92.834	−0.060%	$529K	$301K	30x	as long as short
Gate CL_USDT	−0.0089%	8h	92.820	−0.075%	$20.9M	$52.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0067%	1h	92.874	−0.017%	$184.6M	$218.3M	20x	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	−0.0057%	4h	92.860	−0.032%	$42.8M	$102.1M	50x	as long as short
Aftermath Perps WTIUSD	−0.0050%	1h	92.880	−0.010%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.151%	$402K	$944K	15x	as long as short
QFEX CL-USDshort	−0.0032%	1h	92.850	−0.043%	$2.5M	$1.7M	10x
Extended WTI-USD	−0.0024%	1h	92.930	+0.043%	$2.1M	$22.6M	10x	as long as short
Lighter WTI	0.0000%	1h	92.891	+0.001%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.939	+0.053%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	92.890	long leg	$26.7M	$81.3M	150x
Bitget CLUSDT	0.0000%	4h	92.864	−0.028%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.890	0.000%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.872	−0.019%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.437	−0.488%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	92.884	−0.007%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0032%	4h	92.863	−0.029%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.490	−0.431%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.900	+0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.879	−0.012%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.878	−0.013%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.987	+0.105%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.889	−0.002%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	−0.032%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.845	−0.048%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.889	−0.001%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0188%	4h	92.920	+0.032%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.875	−0.016%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.758%	$19K	$11K	30x	as long as short