Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.021%

Price spread now: Pacifica against Bybit−0.060%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs+$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.316%+$32 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now −0.060%, 7d avg −0.021%

Together, before fees+0.366%+ Points / potential airdropPacifica: Active · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.040% cheaper against Bybit than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of −0.021%). If the spread goes back, that is −$4 on $10k: about 47 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.316% in total) that is about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	93.170	0	get 0.0000% / 8h	4h 48m	$26.9M	$80.7M	150x
Short	Pacifica CL	93.114	0.0068	get 0.0008% / 1h	48m 33s	$329K	$622K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.060%Rate

Funding earned: $14.18
Price spread: −0.060% → −0.021%: −$3.99
Slippage, 4 orders: −$6.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$15.66
Costs to cover: 0.258%
Break-even: 14.7 days

Slippage from Bybit: live order book, 5 min ago; Pacifica: live order book, 10 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 Bybit live order book, 5 min ago	0.54 bp	6.9 bp −$7	7.9 bp −$79	15.4 bp −$1,543	79.3 bp −$39.6K
Sell Pacifica live order book, 10 min ago	1.18 bp	6.8 bp −$7	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	−0.0394%	1h	93.110	−0.064%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0253%	4h	93.130	−0.043%	$24.0M	$67.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0244%	4h	93.132	−0.040%	$54K	$635K	25x	as long as short
Binance CLUSDT	−0.0196%	4h	93.120	−0.053%	$244.8M	$950.8M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0195%	1h	93.163	−0.007%	$274K	$872K	25x	as long as short
Variational Omni CL	−0.0187%	4h	93.109	−0.066%	$13.5M	$11.3M	—	as long as short
tradeXYZ xyz:CL	−0.0108%	1h	93.116	−0.058%	$185.0M	$216.1M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0100%	1h	93.080	−0.097%	$3.5M	$5.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0081%	1h	93.136	−0.036%	$2K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0069%	4h	93.120	−0.054%	$42.6M	$103.1M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CLUSDT	−0.0066%	4h	93.103	−0.072%	$42.0M	$43.8M	100x	as long as short
Gate CL_USDT	−0.0053%	8h	93.060	−0.118%	$20.9M	$51.2M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.451%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.100	−0.075%	$2.5M	$1.7M	10x	as long as short
Extended WTI-USD	−0.0032%	1h	93.150	−0.021%	$2.1M	$21.5M	10x	as long as short
Nado WTI-PERP	−0.0022%	1h	93.164	−0.006%	$963K	$652K	10x	as long as short
Lighter WTI	−0.0016%	1h	93.099	−0.076%	$11.2M	$10.5M	20x	as long as short
edgeX CLUSDC	−0.0012%	4h	93.174	+0.004%	$531K	$301K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.195	+0.027%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.170	long leg	$26.9M	$80.7M	150x
RISEx CL/USDC	0.0000%	1h	93.186	+0.017%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.180	+0.011%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.129	−0.043%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.674	−0.532%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0002%	4h	93.122	−0.052%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.088	−0.088%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	−0.032%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.150	−0.021%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.138	−0.034%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.132	−0.041%	$2.1M	$60K	20x	as long as short
Pacifica CLshort	+0.0068%	1h	93.114	−0.060%	$329K	$622K	10x
ApeX Omni CLUSDT	+0.0100%	1h	93.190	+0.021%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.108	−0.067%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0170%	4h	93.150	−0.021%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0209% / S −0.0134%	1h	93.145	−0.027%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.31	+9.812%	$19K	$11K	30x	as long as short