Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0183%/8h= +20.1% APRpaid last 24h +0.011%

Price spread now: Bybit against tradeXYZ−0.015%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on tradeXYZ Short on Bybit

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+0.011%+$1 · spread now −0.015%, 7d avg +0.008%

Together, before fees−0.242%+ Points / potential airdroptradeXYZ: Active · farm board−$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.022% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.015% now, against its 7-day average of +0.008%). If the spread goes back, that is −$2 on $10k: about 10 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.253%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CL	89.633	−0.0183	get 0.0023% / 1h	59m 17s	$171.6M	$241.6M	20x
Short	Bybit CLUSDT	89.620	0	get 0.0000% / 8h	5h 59m	$26.1M	$106.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now −0.015%Rate

Funding earned: $38.48
Price spread: −0.015% → +0.008%: −$2.23
Slippage, 4 orders: −$2.87
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $4.38
Costs to cover: 0.319%
Break-even: 6.2 days

Slippage from tradeXYZ: live order book, 4 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 tradeXYZ live order book, 4 min ago	0.56 bp	9.6 bp −$10	9.6 bp −$96	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.55 bp	6.6 bp −$7	9.3 bp −$93	19.0 bp −$1,898	89.8 bp −$44.9K

CL on 36 exchanges

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	−0.0643%	1h	89.540	−0.104%	$181K	$436K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0341%	1h	89.596	−0.042%	$322K	$1.8M	25x	as long as short
tradeXYZ xyz:CLlong	−0.0183%	1h	89.633	long leg	$171.6M	$241.6M	20x
Ondo Perps WTI-USD.P	−0.0162%	1h	89.640	+0.008%	$3.4M	$6.2M	20x	as long as short
Aster CLUSD1	−0.0149%	4h	89.691	+0.065%	$24.5M	$70.4M	20x	as long as short
Bitget CLUSDT	−0.0118%	4h	89.636	+0.003%	$40.7M	$54.9M	100x	as long as short
Nado WTI-PERP	−0.0103%	1h	89.713	+0.089%	$868K	$683K	10x	as long as short
Binance CLUSDT	−0.0103%	4h	89.659	+0.029%	$239.4M	$1.18B	100x	as long as short
Extended WTI-USD	−0.0096%	1h	89.620	−0.015%	$1.3M	$14.8M	10x	as long as short
Variational Omni CL	−0.0081%	4h	90.154	+0.581%	$12.7M	$11.3M	—	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0081%	4h	90.230	+0.666%	$504K	$380K	30x	as long as short
Gate CL_USDT	−0.0071%	8h	89.570	−0.070%	$23.2M	$52.6M	100x	as long as short
GRVT CL_USDT_Perp	−0.0066%	4h	90.610	+1.089%	$74K	$628K	25x	as long as short
Aftermath Perps WTIUSD	−0.0045%	1h	90.168	+0.596%	$1K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0041%	4h	89.580	−0.059%	$39.8M	$127.9M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.640	+0.008%	$409K	$1.4M	15x	as long as short
QFEX CL-USD	−0.0023%	1h	89.700	+0.075%	$2.2M	$2.8M	10x	as long as short
Lighter WTI	−0.0016%	1h	89.558	−0.084%	$10.7M	$10.0M	20x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.813	+0.201%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.748	+0.128%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	89.620	−0.015%	$26.1M	$106.5M	150x
RISEx CL/USDC	0.0000%	1h	89.739	+0.119%	$2.8M	$3.1M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.669	+0.040%	$16K	$238K	10x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	89.651	+0.020%	$15K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	89.870	+0.264%	$695K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.730	+0.108%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.664	+0.035%	$1.7M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.590	−0.048%	$2.0M	$82K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	90.370	+0.822%	$36K	$37K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.701	+0.076%	$300K	$729K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.676	+0.048%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.090	+0.510%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.569	−0.072%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0167% / S +0.0014%	1h	89.725	+0.103%	$72K	—	111x	as long as short
BloFin CL-USDT	+0.0199%	4h	89.640	+0.008%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.562%	$16K	$5K	30x	as long as short