Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.008%

Price spread now: Bybit against Extended−0.046%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

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

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.396%−$40 on $10k

Price spread, last 7 days+0.076%+$8 · spread now −0.046%, 7d avg +0.021%

Together, before fees−0.320%+ Points / potential airdropExtended: Active · farm board−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.067% cheaper against Extended than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended WTI-USD	93.190	0.0016	pay 0.0002% / 1h	21m 09s	$2.0M	$18.8M	10x
Short	Bybit CLUSDT	93.147	0	get 0.0000% / 8h	3h 21m	$26.8M	$80.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$3.36
Price spread: −0.046% → +0.021%: −$6.73
Slippage, 4 orders: −$2.73
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$28.82
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Bybit: 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 Extended live order book, 3 min ago	0.05 bp	2.6 bp −$3	4.3 bp −$43	21.2 bp −$2,119	doesn't fit
Sell Bybit live order book, 3 min ago	0.54 bp	6.0 bp −$6	7.1 bp −$71	15.2 bp −$1,523	100.0 bp −$50.0K

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	−0.0716%	1h	93.100	−0.097%	$199K	$370K	15x	as long as short
GRVT CL_USDT_Perp	−0.0308%	4h	93.140	−0.054%	$54K	$645K	25x	as long as short
Aster CLUSD1	−0.0275%	4h	93.165	−0.027%	$24.2M	$66.0M	20x	as long as short
Binance CLUSDT	−0.0181%	4h	93.150	−0.043%	$245.7M	$940.3M	100x	as long as short
Variational Omni CL	−0.0162%	4h	93.128	−0.067%	$13.3M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0130%	1h	93.120	−0.075%	$3.5M	$5.4M	20x	as long as short
Bitget CLUSDT	−0.0130%	4h	93.150	−0.043%	$42.0M	$43.2M	100x	as long as short
Aftermath Perps WTIUSD	−0.0123%	1h	93.162	−0.030%	$2K	$27K	5x	as long as short
Nado WTI-PERP	−0.0120%	1h	93.194	+0.004%	$964K	$630K	10x	as long as short
Gate CL_USDT	−0.0064%	8h	93.100	−0.097%	$21.3M	$51.5M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.144	−0.049%	$280K	$957K	25x	as long as short
OKX CL-USDT-SWAP	−0.0057%	4h	93.120	−0.075%	$42.6M	$102.7M	50x	as long as short
tradeXYZ xyz:CL	−0.0050%	1h	93.174	−0.017%	$184.4M	$217.6M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.032%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.120	−0.075%	$2.3M	$1.9M	10x	as long as short
edgeX CLUSDC	−0.0025%	4h	93.174	−0.018%	$524K	$306K	30x	as long as short
Paradex CL-USD-PERP	−0.0025%	8h	93.118	−0.077%	$16K	$367	5x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.210	+0.021%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.173	−0.019%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	93.147	−0.046%	$26.8M	$80.5M	150x
RISEx CL/USDC	0.0000%	1h	93.198	+0.009%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.135	−0.059%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.702	−0.524%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0002%	4h	93.168	−0.024%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	+0.0008%	1h	93.150	−0.043%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USDlong	+0.0016%	1h	93.190	long leg	$2.0M	$18.8M	10x
StandX CL-USD	+0.0040%	1h	93.160	−0.032%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.170	−0.021%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.144	−0.049%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.138	−0.056%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.133	−0.061%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.170	−0.021%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.105	−0.092%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0184%	4h	93.110	−0.086%	$4.0M	$999K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.51	+10.001%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0222% / S −0.0150%	1h	93.135	−0.059%	$81K	—	111x	as long as short