Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0303%/8h= −33.1% APRpaid last 24h −0.029%

Price spread now: Variational Omni against Pacifica0.000%7-day average −0.022% · you sell dearer than you buy

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)−0.041%−$4 on $10k

Price spread, last 4 days (all we have)−0.411%−$41 · spread now 0.000%, 7d avg −0.022%

Together, before fees−0.453%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.023% dearer against Pacifica than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.022%): +$2 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 3 days (−0.041% in total) that is about 45 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.041% in total (about -4.4% 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	92.859	0.0100	pay 0.0013% / 1h	55m 39s	$331K	$618K	10x
Short	Variational Omni CL	92.860	−0.0203	pay 0.0101% / 4h	1h 55m	$13.5M	$11.1M	—

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

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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 0.000%Rate

Funding earned: −$63.54
Price spread: 0.000% → −0.022%: $2.26
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$69.28
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 8 min ago; Variational Omni: RFQ quote, 4 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, 8 min ago	0.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.27 bp	doesn't fit	2.6 bp −$26	6.6 bp −$662	doesn't fit

CL on 35 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	−0.0503%	1h	92.860	+0.001%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0242%	4h	92.885	+0.028%	$24.0M	$71.1M	20x	as long as short
GRVT CL_USDT_Perp	−0.0210%	4h	92.871	+0.012%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0209%	4h	92.829	−0.032%	$244.6M	$962.0M	100x	as long as short
Variational Omni CLshort	−0.0203%	4h	92.860	0.000%	$13.5M	$11.1M	—
Nado WTI-PERP	−0.0101%	1h	92.929	+0.075%	$962K	$670K	10x	as long as short
Gate CL_USDT	−0.0095%	8h	92.800	−0.064%	$20.9M	$52.1M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0078%	1h	92.800	−0.064%	$3.5M	$5.6M	20x	as long as short
edgeX CLUSDC	−0.0056%	4h	92.883	+0.026%	$529K	$301K	30x	as long as short
tradeXYZ xyz:CL	−0.0050%	1h	92.865	+0.006%	$184.7M	$219.6M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.118%	$402K	$946K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.830	−0.032%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0013%	1h	92.896	+0.039%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAP	−0.0003%	4h	92.830	−0.032%	$42.8M	$102.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.909	+0.053%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.860	+0.001%	$26.9M	$81.3M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.876	+0.018%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.930	+0.076%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.884	+0.026%	$17K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.450	−0.441%	$5K	—	150x	as long as short
Lighter WTI	+0.0032%	1h	92.848	−0.012%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.880	+0.022%	$2.1M	$23.5M	10x	as long as short
Paradex CL-USD-PERP	+0.0035%	8h	92.839	−0.022%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.330	−0.570%	$726K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.900	+0.044%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.898	+0.042%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.885	+0.028%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.957	+0.105%	$3.3M	$2.7M	20x	as long as short
KuCoin CLUSDTM	+0.0082%	4h	92.866	+0.007%	$7.3M	$2.3M	50x	as long as short
Pacifica CLlong	+0.0100%	1h	92.859	long leg	$331K	$618K	10x
ApeX Omni CLUSDT	+0.0100%	1h	92.870	+0.011%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.856	−0.004%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.909	+0.053%	$273K	$882K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.875	+0.017%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.15	+10.002%	$19K	$11K	30x	as long as short