Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0111%/8h= −12.1% APRpaid last 24h −0.012%

Price spread now: tradeXYZ against Bybit−0.021%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.253%+$25 on $10k

Price spread, last 7 days+0.018%+$2 · spread now −0.021%, 7d avg −0.006%

Together, before fees+0.271%+ Points / potential airdroptradeXYZ: Active · farm board+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.253%, 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	93.092	0	get 0.0000% / 8h	4h 34m	$26.7M	$80.8M	150x
Short	tradeXYZ xyz:CL	93.072	−0.0111	pay 0.0014% / 1h	34m 21s	$184.8M	$215.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$23.25
Price spread: −0.021% → −0.006%: −$1.52
Slippage, 4 orders: −$1.68
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$55.44
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; tradeXYZ: 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, 5 min ago	0.54 bp	6.0 bp −$6	7.5 bp −$75	17.3 bp −$1,732	90.5 bp −$45.2K
Sell tradeXYZ live order book, 6 min ago	0.11 bp	9.5 bp −$9	10.3 bp −$103	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	−0.0394%	1h	93.060	−0.034%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0253%	4h	93.080	−0.013%	$24.0M	$67.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	93.086	−0.006%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	93.101	+0.009%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0194%	4h	93.090	−0.002%	$244.8M	$951.8M	100x	as long as short
Variational Omni CL	−0.0187%	4h	93.099	+0.007%	$13.5M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0117%	1h	93.060	−0.034%	$3.5M	$5.6M	20x	as long as short
tradeXYZ xyz:CLshort	−0.0111%	1h	93.072	−0.021%	$184.8M	$215.6M	20x
Bitget CLUSDT	−0.0096%	4h	93.070	−0.024%	$41.9M	$43.9M	100x	as long as short
Aftermath Perps WTIUSD	−0.0095%	1h	93.127	+0.038%	$2K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0092%	4h	93.074	−0.019%	$530K	$300K	30x	as long as short
OKX CL-USDT-SWAP	−0.0069%	4h	93.080	−0.013%	$42.6M	$102.7M	50x	as long as short
Gate CL_USDT	−0.0052%	8h	93.020	−0.077%	$20.9M	$51.7M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.367%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.070	−0.024%	$2.5M	$1.7M	10x	as long as short
Nado WTI-PERP	−0.0034%	1h	93.113	+0.023%	$963K	$653K	10x	as long as short
Lighter WTI	−0.0016%	1h	93.086	−0.006%	$11.2M	$10.5M	20x	as long as short
KuCoin CLUSDTM	−0.0012%	4h	93.072	−0.021%	$7.1M	$2.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	+0.023%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.092	long leg	$26.7M	$80.8M	150x
RISEx CL/USDC	0.0000%	1h	93.144	+0.056%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.130	+0.041%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.080	−0.013%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.640	−0.486%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	93.120	+0.030%	$2.0M	$21.1M	10x	as long as short
Paradex CL-USD-PERP	+0.0012%	8h	93.051	−0.044%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	+0.052%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.100	+0.009%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.079	−0.014%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.078	−0.015%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.067	−0.027%	$329K	$621K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.090	−0.002%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.049	−0.047%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0170%	4h	93.080	−0.013%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0213% / S −0.0140%	1h	93.075	−0.018%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.19	+9.769%	$19K	$11K	30x	as long as short