Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h −0.023%

Price spread now: Bybit against Pacifica+0.016%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$250.255% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.315%−$32 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.016%, 7d avg +0.020%

Together, before fees−0.325%+ Points / potential airdropPacifica: Active · farm board−$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: −$1 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	93.505	0.0047	pay 0.0006% / 1h	28m 14s	$332K	$576K	10x
Short	Bybit CLUSDT	93.520	0	get 0.0000% / 8h	2h 28m	$27.1M	$79.6M	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 +0.016%Rate

Funding earned: −$9.81
Price spread: +0.016% → +0.020%: −$0.38
Slippage, 4 orders: −$6.46
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$35.65
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Pacifica: live order book, 20 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, 20 min ago	1.29 bp	6.2 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.54 bp	6.0 bp −$6	7.2 bp −$72	15.1 bp −$1,514	96.3 bp −$48.2K

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	−0.0498%	1h	93.460	−0.048%	$197K	$374K	15x	as long as short
GRVT CL_USDT_Perp	−0.0324%	4h	93.320	−0.197%	$58K	$639K	25x	as long as short
Aster CLUSD1	−0.0303%	4h	93.518	+0.015%	$24.4M	$65.2M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.513	+0.009%	$285K	$960K	25x	as long as short
Binance CLUSDT	−0.0193%	4h	93.493	−0.013%	$246.7M	$932.5M	100x	as long as short
Variational Omni CL	−0.0184%	4h	93.331	−0.186%	$13.3M	$10.8M	—	as long as short
Aftermath Perps WTIUSD	−0.0151%	1h	93.405	−0.107%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0136%	1h	93.551	+0.050%	$968K	$617K	10x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.478	−0.028%	$42.1M	$42.9M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0117%	1h	93.420	−0.091%	$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	−0.0078%	4h	93.321	−0.197%	$525K	$306K	30x	as long as short
Gate CL_USDT	−0.0076%	8h	93.440	−0.069%	$21.8M	$49.6M	100x	as long as short
tradeXYZ xyz:CL	−0.0066%	1h	93.497	−0.008%	$185.1M	$214.8M	20x	as long as short
OKX CL-USDT-SWAP	−0.0061%	4h	93.500	−0.005%	$42.7M	$102.7M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.369%	$403K	$928K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.510	+0.006%	$2.3M	$2.3M	10x	as long as short
Lighter WTI	0.0000%	1h	93.508	+0.004%	$11.2M	$9.9M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.496	−0.010%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	93.520	+0.016%	$27.1M	$79.6M	150x
RISEx CL/USDC	0.0000%	1h	93.551	+0.050%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.380	−0.133%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.494	−0.011%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.039	−0.498%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0004%	8h	93.489	−0.017%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.530	+0.027%	$2.0M	$17.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.330	−0.187%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.480	−0.026%	—	$313K	10x	as long as short
Pacifica CLlong	+0.0047%	1h	93.505	long leg	$332K	$576K	10x
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.486	−0.020%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.494	−0.011%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0058%	4h	93.519	+0.015%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.400	−0.112%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.473	−0.034%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0176%	4h	93.400	−0.112%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.730%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0237% / S −0.0169%	1h	93.495	−0.010%	$84K	—	111x	as long as short