Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.041%

Price spread now: Gate against Pacifica−0.060%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Pacifica Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.348%−$35 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now −0.060%, 7d avg −0.049%

Together, before fees−0.406%+ Points / potential airdropPacifica: Active · farm board−$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CL	93.096	0.0068	pay 0.0008% / 1h	28m 38s	$331K	$622K	10x
Short	Gate CL_USDT	93.040	−0.0049	pay 0.0049% / 8h	4h 28m	$20.9M	$51.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.060%Rate

Funding earned: −$24.47
Price spread: −0.060% → −0.049%: −$1.05
Slippage, 4 orders: −$8.58
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$57.1
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Pacifica: live order book, 30 min ago; Gate: live order book, 5 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, 30 min ago	1.18 bp	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.54 bp	9.3 bp −$9	14.1 bp −$141	26.6 bp −$2,665	33.5 bp −$16.7K

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	−0.0502%	1h	93.070	−0.028%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0253%	4h	93.106	+0.011%	$24.0M	$67.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	93.098	+0.002%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	93.121	+0.027%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0190%	4h	93.090	−0.006%	$244.7M	$951.1M	100x	as long as short
Variational Omni CL	−0.0183%	4h	93.099	+0.003%	$13.5M	$10.9M	—	as long as short
tradeXYZ xyz:CL	−0.0112%	1h	93.100	+0.005%	$184.8M	$215.7M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0106%	1h	93.070	−0.028%	$3.5M	$5.6M	20x	as long as short
Bitget CLUSDT	−0.0104%	4h	93.067	−0.031%	$41.9M	$43.9M	100x	as long as short
Aftermath Perps WTIUSD	−0.0100%	1h	93.092	−0.004%	$2K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0066%	4h	93.090	−0.006%	$42.6M	$102.8M	50x	as long as short
edgeX CLUSDC	−0.0054%	4h	93.103	+0.008%	$530K	$301K	30x	as long as short
Gate CL_USDTshort	−0.0049%	8h	93.040	−0.060%	$20.9M	$51.8M	100x
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.371%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.080	−0.017%	$2.4M	$1.7M	10x	as long as short
Nado WTI-PERP	−0.0034%	1h	93.152	+0.060%	$963K	$653K	10x	as long as short
KuCoin CLUSDTM	−0.0016%	4h	93.100	+0.005%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	−0.0008%	1h	93.098	+0.002%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	+0.019%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.100	+0.005%	$26.7M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.160	+0.069%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.140	+0.048%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.109	+0.014%	$19K	$243K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.666	−0.462%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0012%	8h	93.081	−0.015%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0016%	1h	93.130	+0.037%	$2.0M	$20.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	+0.048%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.110	+0.015%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.089	−0.007%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.094	−0.002%	$2.1M	$60K	20x	as long as short
Pacifica CLlong	+0.0068%	1h	93.096	long leg	$331K	$622K	10x
ApeX Omni CLUSDT	+0.0100%	1h	93.070	−0.028%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.066	−0.032%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0174%	4h	93.070	−0.028%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0214% / S −0.0141%	1h	93.095	−0.001%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.19	+9.764%	$19K	$11K	30x	as long as short