Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.007%

Price spread now: Bybit against Pacifica+0.025%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.485%−$48 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.025%, 7d avg +0.021%

Together, before fees−0.496%+ Points / potential airdropPacifica: Active · farm board−$50 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.485%, 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	Pacifica CL	92.094	−0.0020	get 0.0003% / 1h	58m 04s	$332K	$578K	10x
Short	Bybit CLUSDT	92.117	0	get 0.0000% / 8h	58m 04s	$25.6M	$95.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now +0.025%Rate

Funding earned: $4.3
Price spread: +0.025% → +0.021%: $0.45
Slippage, 4 orders: −$6.92
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$21.17
Costs to cover: 0.259%
Break-even: 41.5 days

Slippage from Pacifica: live order book, 21 min ago; Bybit: live order book, 1 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 Pacifica live order book, 21 min ago	0.05 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.54 bp	6.0 bp −$6	7.7 bp −$77	17.0 bp −$1,704	116.9 bp −$58.5K

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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.098	+0.004%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.110	+0.018%	$96K	$189K	15x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	92.079	−0.016%	$58K	$715K	25x	as long as short
Lighter WTI	−0.0208%	1h	92.087	−0.007%	$11.2M	$10.9M	20x	as long as short
Aster CLUSD1	−0.0174%	4h	92.122	+0.031%	$24.0M	$77.6M	20x	as long as short
Nado WTI-PERP	−0.0155%	1h	92.146	+0.056%	$924K	$746K	10x	as long as short
tradeXYZ xyz:CL	−0.0101%	1h	92.114	+0.022%	$185.8M	$278.3M	20x	as long as short
Paradex CL-USD-PERP	−0.0097%	8h	92.052	−0.045%	$15K	$367	5x	as long as short
Binance CLUSDT	−0.0083%	4h	92.084	−0.011%	$244.5M	$1.11B	100x	as long as short
Ondo Perps WTI-USD.P	−0.0080%	1h	92.090	−0.004%	$3.5M	$6.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0054%	1h	92.050	−0.048%	$2.4M	$2.6M	10x	as long as short
Variational Omni CL	−0.0051%	4h	92.083	−0.012%	$13.4M	$13.3M	—	as long as short
Bullet WTIOIL-USD	−0.0034%	1h	92.090	−0.004%	$18K	$241K	10x	as long as short
Pacifica CLlong	−0.0020%	1h	92.094	long leg	$332K	$578K	10x
Aftermath Perps WTIUSD	−0.0020%	1h	92.127	+0.036%	$2K	$29K	5x	as long as short
Gate CL_USDT	−0.0015%	8h	92.020	−0.080%	$21.3M	$57.3M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.015%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	92.117	+0.025%	$25.6M	$95.5M	150x
OKX CL-USDT-SWAP	0.0000%	4h	92.090	−0.004%	$43.1M	$113.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.195	+0.110%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.079	−0.016%	$42.1M	$52.2M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.069%	$399K	$1.0M	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.684	−0.445%	$4K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.150	+0.061%	$37K	$98K	20x	as long as short
Polymarket Perps WTIOIL-USD	+0.0032%	1h	92.081	−0.014%	$1.6M	$1.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.155	+0.066%	$2.0M	$27.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.090	−0.004%	$724K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.160	+0.072%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.085	−0.010%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0075%	4h	92.106	+0.013%	$530K	$335K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.120	+0.028%	$7.2M	$2.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.180	+0.094%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.067	−0.029%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.075	−0.021%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+9.969%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.090	−0.004%	$4.0M	$1.4M	50x	as long as short