Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0169%/8h= +18.5% APRpaid last 24h +0.028%

Price spread now: Pacifica against edgeX+0.062%52s7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.420% of the position

Long on edgeX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.062%, 7d avg −0.009%

Together, before fees+0.199%+ Points / potential airdropedgeX: Active · Pacifica: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Pacifica is 0.070% dearer against edgeX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.009%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	93.266	−0.0069	get 0.0034% / 4h	3h 09m	$524K	$305K	30x
Short	Pacifica CL	93.324	0.0100	get 0.0013% / 1h	9m 44s	$331K	$579K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against edgeX. 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 edgeXbpFee PacificabpOrdersPrice spread, now +0.062%Rate

Funding earned: $35.47
Price spread: +0.062% → −0.009%: $7.04
Slippage, 4 orders: −$24.96
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $0.56
Costs to cover: 0.420%
Break-even: 6.9 days

Slippage from edgeX: live order book, 44 min ago; Pacifica: live order book, 44 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 edgeX live order book, 44 min ago	10.27 bp	14.8 bp −$15	15.2 bp −$152	21.4 bp −$2,145	doesn't fit
Sell Pacifica live order book, 44 min ago	0.11 bp	6.0 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	−0.0607%	1h	93.300	+0.036%	$198K	$371K	15x	as long as short
GRVT CL_USDT_Perp	−0.0338%	4h	93.280	+0.015%	$58K	$656K	25x	as long as short
Aster CLUSD1	−0.0282%	4h	93.360	+0.100%	$24.3M	$65.9M	20x	as long as short
Binance CLUSDT	−0.0189%	4h	93.350	+0.090%	$246.5M	$939.8M	100x	as long as short
Variational Omni CL	−0.0173%	4h	93.308	+0.044%	$13.3M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0134%	1h	93.298	+0.034%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0130%	4h	93.328	+0.066%	$42.0M	$43.2M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0129%	1h	93.260	−0.007%	$3.5M	$5.4M	20x	as long as short
Nado WTI-PERP	−0.0114%	1h	93.384	+0.126%	$966K	$629K	10x	as long as short
edgeX CLUSDClong	−0.0069%	4h	93.266	long leg	$524K	$305K	30x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0068%	8h	93.280	+0.015%	$21.4M	$51.5M	100x	as long as short
OKX CL-USDT-SWAP	−0.0064%	4h	93.340	+0.079%	$42.7M	$103.1M	50x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.352	+0.091%	$282K	$959K	25x	as long as short
tradeXYZ xyz:CL	−0.0060%	1h	93.337	+0.076%	$184.7M	$217.0M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.114%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.310	+0.047%	$2.3M	$2.0M	10x	as long as short
Paradex CL-USD-PERP	−0.0026%	8h	93.315	+0.052%	$16K	$367	5x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.310	+0.047%	$37K	$41K	20x	as long as short
Lighter WTI	0.0000%	1h	93.337	+0.076%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	+0.068%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.360	+0.100%	$27.0M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.391	+0.133%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.332	+0.070%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.895	−0.398%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0012%	4h	93.361	+0.101%	$7.1M	$2.4M	50x	as long as short
Extended WTI-USD	+0.0016%	1h	93.380	+0.122%	$2.0M	$18.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.190	−0.082%	$737K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.340	+0.079%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.323	+0.061%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.337	+0.076%	$2.1M	$60K	20x	as long as short
Pacifica CLshort	+0.0100%	1h	93.324	+0.062%	$331K	$579K	10x
ApeX Omni CLUSDT	+0.0100%	1h	93.340	+0.079%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.296	+0.032%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0176%	4h	93.320	+0.057%	$4.0M	$997K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.37	+9.762%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0224% / S −0.0152%	1h	93.335	+0.074%	$81K	—	111x	as long as short