Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0235%/8h= +25.7% APRpaid last 24h +0.050%

Price spread now: Pacifica against Binance−0.011%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$240.235% of the position

Long on Binance Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 4 days (all we have)+0.478%+$48 · spread now −0.011%, 7d avg −0.027%

Together, before fees+0.600%+ Points / potential airdropPacifica: Active · farm board+$60 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.122% in total (about 6.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	93.430	−0.0188	get 0.0094% / 4h	2h 23m	$246.1M	$933.2M	100x
Short	Pacifica CL	93.420	0.0047	get 0.0006% / 1h	23m 15s	$332K	$576K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Binance. 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 BinancebpFee PacificabpOrdersPrice spread, now −0.011%Rate

Funding earned: $49.34
Price spread: −0.011% → −0.027%: $1.57
Slippage, 4 orders: −$5.52
Fee Binance: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $27.39
Costs to cover: 0.235%
Break-even: 3.1 days

Slippage from Binance: live order book, 6 min ago; Pacifica: live order book, 25 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 Binance live order book, 6 min ago	0.54 bp	5.5 bp −$6	5.5 bp −$55	8.1 bp −$807	26.5 bp −$13.2K
Sell Pacifica live order book, 25 min ago	1.29 bp	6.2 bp −$6	doesn't fit	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	−0.0499%	1h	93.400	−0.032%	$197K	$375K	15x	as long as short
GRVT CL_USDT_Perp	−0.0304%	4h	93.510	+0.086%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0299%	4h	93.455	+0.027%	$24.4M	$65.0M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.429	−0.001%	$285K	$958K	25x	as long as short
Binance CLUSDTlong	−0.0188%	4h	93.430	long leg	$246.1M	$933.2M	100x
Variational Omni CL	−0.0182%	4h	93.450	+0.021%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0152%	1h	93.393	−0.039%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0132%	4h	93.427	−0.003%	$42.1M	$42.8M	100x	as long as short
Nado WTI-PERP	−0.0129%	1h	93.483	+0.057%	$967K	$615K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0110%	1h	93.340	−0.096%	$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
Gate CL_USDT	−0.0079%	8h	93.340	−0.096%	$21.8M	$49.8M	100x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.495	+0.070%	$526K	$305K	30x	as long as short
tradeXYZ xyz:CL	−0.0066%	1h	93.420	−0.011%	$184.9M	$213.4M	20x	as long as short
OKX CL-USDT-SWAP	−0.0056%	4h	93.430	0.000%	$42.6M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.075%	$404K	$931K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.420	−0.011%	$2.3M	$2.4M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.388	−0.045%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.442	+0.013%	$27.1M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.483	+0.057%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.550	+0.128%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.424	−0.006%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.973	−0.489%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	93.411	−0.020%	$11.2M	$9.9M	20x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	93.385	−0.048%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.460	+0.032%	$2.0M	$17.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	+0.021%	$740K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.430	0.000%	—	$313K	10x	as long as short
Pacifica CLshort	+0.0047%	1h	93.420	−0.011%	$332K	$576K	10x
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.421	−0.010%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.420	−0.011%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0066%	4h	93.445	+0.016%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.410	−0.021%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.399	−0.033%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0184%	4h	93.450	+0.021%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.818%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0237% / S −0.0170%	1h	93.425	−0.005%	$84K	—	111x	as long as short