Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0143%/8h= −15.6% APRpaid last 24h −0.024%

Price spread now: Variational Omni against Bybit−0.002%7-day average −0.009% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.017%+$2 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.002%, 7d avg −0.009%

Together, before fees+0.030%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	93.641	0	get 0.0000% / 8h	1h 46m	$27.3M	$79.5M	150x
Short	Variational Omni CL	93.640	−0.0143	pay 0.0071% / 4h	1h 46m	$13.5M	$10.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.002%Rate

Funding earned: −$29.94
Price spread: −0.002% → −0.009%: $0.72
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$40.23
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

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, 2 min ago	0.53 bp	6.0 bp −$6	6.7 bp −$67	14.0 bp −$1,405	77.3 bp −$38.6K
Sell Variational Omni RFQ quote, 2 min ago	2.26 bp	doesn't fit	2.3 bp −$23	5.4 bp −$539	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	−0.0390%	1h	93.620	−0.022%	$197K	$380K	15x	as long as short
Aster CLUSD1	−0.0260%	4h	93.667	+0.028%	$24.5M	$65.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0248%	4h	93.618	−0.024%	$58K	$629K	25x	as long as short
Binance CLUSDT	−0.0148%	4h	93.623	−0.019%	$246.4M	$928.0M	100x	as long as short
Variational Omni CLshort	−0.0143%	4h	93.640	−0.002%	$13.5M	$10.7M	—
Aftermath Perps WTIUSD	−0.0139%	1h	93.650	+0.010%	$2K	$26K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.649	+0.008%	$286K	$953K	25x	as long as short
Bitget CLUSDT	−0.0104%	4h	93.603	−0.041%	$42.2M	$42.6M	100x	as long as short
Gate CL_USDT	−0.0093%	8h	93.550	−0.097%	$22.2M	$48.5M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0059%	1h	93.670	+0.031%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0047%	1h	93.627	−0.015%	$185.0M	$210.9M	20x	as long as short
edgeX CLUSDC	−0.0031%	4h	93.692	+0.054%	$527K	$306K	30x	as long as short
QFEX CL-USD	−0.0023%	1h	93.640	−0.001%	$2.3M	$2.5M	10x	as long as short
Nado WTI-PERP	−0.0022%	1h	93.733	+0.098%	$966K	$629K	10x	as long as short
OKX CL-USDT-SWAP	−0.0018%	4h	93.620	−0.022%	$42.7M	$102.1M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.151%	$404K	$931K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.734	+0.099%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.641	long leg	$27.3M	$79.5M	150x
RISEx CL/USDC	0.0000%	1h	93.711	+0.075%	$3.1M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.730	+0.095%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.662	+0.022%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.196	−0.475%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0029%	8h	93.644	+0.003%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.649	+0.009%	$11.3M	$9.6M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.640	−0.001%	$2.0M	$16.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.690	+0.052%	$742K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.660	+0.020%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.642	+0.001%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.653	+0.013%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.653	+0.013%	$333K	$576K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.621	−0.021%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.760	+0.127%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.622	−0.020%	$4K	—	10x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.74	+9.721%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0222%	4h	93.670	+0.031%	$4.0M	$980K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0245% / S −0.0178%	1h	93.655	+0.015%	$84K	—	111x	as long as short