Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.016%

Price spread now: Bybit against RISEx−0.101%7-day average −0.054% · 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−$26as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.199%−$20 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.101%, 7d avg −0.054%

Together, before fees−0.163%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.047% cheaper against RISEx than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.054%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CL/USDC	93.165	0.0066	pay 0.0008% / 1h	3m 26s	$3.1M	$2.9M	20x
Short	Bybit CLUSDT	93.071	0	get 0.0000% / 8h	5h 03m	$26.7M	$81.0M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$13.86
Price spread: −0.101% → −0.054%: −$4.72
Slippage, 4 orders: −$4.74
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$40.32
Costs to cover: 0.217%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; Bybit: 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 RISEx live order book, 1 min ago	1.56 bp	4.6 bp −$5	6.1 bp −$61	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	0.54 bp	6.0 bp −$6	7.1 bp −$71	15.5 bp −$1,546	103.5 bp −$51.8K

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	−0.0609%	1h	93.060	−0.113%	$199K	$369K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.102	−0.068%	$24.0M	$68.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	92.964	−0.215%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0207%	4h	93.060	−0.113%	$244.9M	$953.3M	100x	as long as short
Variational Omni CL	−0.0200%	4h	92.957	−0.223%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0166%	1h	93.040	−0.134%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0145%	1h	93.142	−0.024%	$963K	$654K	10x	as long as short
OKX CL-USDT-SWAP	−0.0082%	4h	93.050	−0.124%	$42.6M	$102.9M	50x	as long as short
Extended WTI-USD	−0.0080%	1h	93.130	−0.038%	$2.1M	$22.0M	10x	as long as short
tradeXYZ xyz:CL	−0.0075%	1h	93.059	−0.114%	$185.2M	$217.3M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0069%	1h	93.009	−0.168%	$2K	$27K	5x	as long as short
Gate CL_USDT	−0.0061%	8h	93.010	−0.166%	$20.9M	$53.3M	100x	as long as short
edgeX CLUSDC	−0.0047%	4h	92.984	−0.194%	$529K	$302K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.446%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.060	−0.113%	$2.5M	$1.7M	10x	as long as short
Bitget CLUSDT	−0.0030%	4h	93.059	−0.114%	$42.0M	$43.6M	100x	as long as short
Lighter WTI	0.0000%	1h	93.082	−0.089%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.099	−0.071%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	93.071	−0.101%	$26.7M	$81.0M	150x
Phoenix WTIOIL	0.0000%	1h	93.010	−0.166%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.062	−0.111%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.618	−0.587%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0004%	4h	93.076	−0.096%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	93.069	−0.104%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.060	−0.113%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.080	−0.091%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.072	−0.100%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.091	−0.080%	$2.1M	$60K	20x	as long as short
RISEx CL/USDClong	+0.0066%	1h	93.165	long leg	$3.1M	$2.9M	20x
Pacifica CL	+0.0100%	1h	93.089	−0.082%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.980	−0.199%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.060	−0.113%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	93.117	−0.052%	$274K	$871K	25x	as long as short
BloFin CL-USDT	+0.0159%	4h	93.000	−0.177%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0209% / S −0.0134%	1h	93.055	−0.118%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.588%	$19K	$11K	30x	as long as short