Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0246%/8h= −27.0% APRpaid last 24h −0.036%

Price spread now: Variational Omni against Pacifica−0.062%7-day average −0.025% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.044%−$4 on $10k

Price spread, last 4 days (all we have)−0.477%−$48 · spread now −0.062%, 7d avg −0.025%

Together, before fees−0.520%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.037% cheaper against Pacifica than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.044% in total (about -4.6% 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	Pacifica CL	92.896	0.0068	pay 0.0008% / 1h	2m 38s	$330K	$622K	10x
Short	Variational Omni CL	92.839	−0.0179	pay 0.0089% / 4h	2m 38s	$13.5M	$10.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.062%Rate

Funding earned: −$51.69
Price spread: −0.062% → −0.025%: −$3.68
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$63.36
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 56 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

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, 56 min ago	1.18 bp	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.27 bp	doesn't fit	2.4 bp −$24	7.0 bp −$696	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	−0.0396%	1h	92.890	−0.007%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0276%	4h	92.930	+0.036%	$24.0M	$66.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0248%	4h	92.847	−0.053%	$63K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	92.939	+0.046%	$272K	$875K	25x	as long as short
Binance CLUSDT	−0.0185%	4h	92.914	+0.019%	$244.5M	$944.0M	100x	as long as short
Variational Omni CLshort	−0.0179%	4h	92.839	−0.062%	$13.5M	$10.8M	—
Bitget CLUSDT	−0.0132%	4h	92.904	+0.008%	$41.9M	$43.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0116%	1h	92.890	−0.007%	$187.4M	$216.9M	20x	as long as short
Aftermath Perps WTIUSD	−0.0107%	1h	92.923	+0.029%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0087%	1h	92.870	−0.028%	$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
edgeX CLUSDC	−0.0080%	4h	92.863	−0.035%	$526K	$304K	30x	as long as short
OKX CL-USDT-SWAP	−0.0056%	4h	92.910	+0.015%	$42.5M	$102.7M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.930	+0.036%	$399K	$948K	15x	as long as short
Gate CL_USDT	−0.0047%	8h	92.840	−0.061%	$20.8M	$52.4M	100x	as long as short
QFEX CL-USD	−0.0043%	1h	92.890	−0.007%	$2.3M	$1.8M	10x	as long as short
Nado WTI-PERP	−0.0039%	1h	92.956	+0.064%	$963K	$647K	10x	as long as short
KuCoin CLUSDTM	−0.0034%	4h	92.905	+0.009%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	0.0000%	1h	92.901	+0.005%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.043%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.893	−0.004%	$26.5M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.977	+0.087%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.940	+0.047%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.933	+0.039%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.470	−0.459%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0003%	8h	92.888	−0.009%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.930	+0.036%	$2.0M	$20.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.910	+0.015%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.930	+0.036%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.922	+0.028%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.919	+0.024%	$2.1M	$60K	20x	as long as short
Pacifica CLlong	+0.0068%	1h	92.896	long leg	$330K	$622K	10x
ApeX Omni CLUSDT	+0.0100%	1h	93.000	+0.112%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.894	−0.003%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0183%	4h	92.900	+0.004%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0217% / S −0.0145%	1h	92.925	+0.031%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+10.070%	$19K	$11K	30x	as long as short