Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.047%

Price spread now: Gate against Pacifica−0.077%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on Pacifica Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.532%−$53 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.077%, 7d avg −0.048%

Together, before fees−0.539%+ Points / potential airdropPacifica: Active · farm board−$54 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Gate is 0.028% cheaper against Pacifica than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CL	92.191	−0.0020	get 0.0003% / 1h	22m 22s	$333K	$576K	10x
Short	Gate CL_USDT	92.120	−0.0031	pay 0.0031% / 8h	22m 22s	$21.3M	$58.0M	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 −0.077%Rate

Funding earned: −$2.21
Price spread: −0.077% → −0.048%: −$2.84
Slippage, 4 orders: −$10.33
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$38.38
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from Pacifica: live order book, 56 min ago; Gate: live order book, 2 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, 56 min ago	0.05 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.54 bp	9.1 bp −$9	12.6 bp −$126	23.7 bp −$2,367	32.7 bp −$16.4K

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	−0.0449%	1h	92.243	+0.056%	$273K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0316%	4h	92.230	+0.043%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0269%	4h	92.200	+0.010%	$24.0M	$77.4M	20x	as long as short
Binance CLUSDT	−0.0184%	4h	92.200	+0.010%	$244.7M	$1.09B	100x	as long as short
Variational Omni CL	−0.0162%	4h	92.224	+0.037%	$13.4M	$12.5M	—	as long as short
Nado WTI-PERP	−0.0141%	1h	92.235	+0.048%	$925K	$737K	10x	as long as short
Lighter WTI	−0.0080%	1h	92.176	−0.016%	$11.2M	$10.9M	20x	as long as short
Paradex CL-USD-PERP	−0.0066%	8h	92.169	−0.024%	$15K	$367	5x	as long as short
QFEX CL-USD	−0.0054%	1h	92.210	+0.021%	$2.4M	$2.3M	10x	as long as short
tradeXYZ xyz:CL	−0.0053%	1h	92.194	+0.004%	$186.4M	$275.0M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0052%	1h	92.190	−0.001%	$3.5M	$6.3M	20x	as long as short
Gate CL_USDTshort	−0.0031%	8h	92.120	−0.077%	$21.3M	$58.0M	100x
Pacifica CLlong	−0.0020%	1h	92.191	long leg	$333K	$576K	10x
dYdX WTI-USD	0.0000%	1h	92.274	+0.091%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.196	+0.006%	$25.9M	$94.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.190	−0.001%	$43.0M	$112.9M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.307	+0.126%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.187	−0.004%	$42.0M	$51.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.119%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.196	+0.006%	$19K	$241K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	0.0000%	1h	92.220	+0.032%	$96K	$189K	15x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.174%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.747	−0.481%	$5K	—	150x	as long as short
edgeX CLUSDC	+0.0016%	4h	92.258	+0.073%	$530K	$325K	30x	as long as short
Extended WTI-USD	+0.0032%	1h	92.225	+0.037%	$2.0M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.210	+0.021%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.230	+0.043%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.193	+0.002%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.205	+0.016%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.201	+0.011%	$7.1M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.320	+0.140%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.175	−0.017%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.195	+0.005%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.18	+9.752%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.210	+0.021%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0299%	1h	92.207	+0.018%	$2K	$29K	5x	as long as short