Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0367%/8h= +40.2% APRpaid last 24h +0.031%

Price spread now: Pacifica against Binance−0.006%48s7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.247% of the position

Long on Binance Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 2 days (all we have)−0.038%−$4 · spread now −0.006%, 7d avg −0.021%

Together, before fees+0.079%+ Points / potential airdropPacifica: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.117% in total (about 6.1% 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	Binance CLUSDT	92.490	−0.0267	get 0.0133% / 4h	3h 29m	$245.1M	$1.07B	100x
Short	Pacifica CL	92.484	0.0100	get 0.0013% / 1h	29m 50s	$354K	$596K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Binance. 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 BinancebpFee PacificabpOrdersPrice spread, now −0.006%Rate

Funding earned: $77.04
Price spread: −0.006% → −0.021%: $1.45
Slippage, 4 orders: −$6.66
Fee Binance: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $53.83
Costs to cover: 0.247%
Break-even: 2.1 days

Slippage from Binance: live order book, 14 min ago; Pacifica: live order book, 44 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 Binance live order book, 14 min ago	0.54 bp	6.2 bp −$6	6.9 bp −$69	10.8 bp −$1,079	25.1 bp −$12.5K
Sell Pacifica live order book, 44 min ago	0.05 bp	6.3 bp −$6	doesn't fit	doesn't fit	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
GRVT CL_USDT_Perp	−0.0356%	4h	92.460	−0.032%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0330%	4h	92.487	−0.004%	$24.0M	$79.8M	20x	as long as short
Binance CLUSDTlong	−0.0267%	4h	92.490	long leg	$245.1M	$1.07B	100x
Variational Omni CL	−0.0260%	4h	92.441	−0.053%	$13.1M	$12.3M	—	as long as short
Gate CL_USDT	−0.0217%	8h	92.410	−0.086%	$21.3M	$55.0M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.490	0.000%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0076%	1h	92.509	+0.020%	$932K	$732K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0074%	1h	92.480	−0.011%	$96K	$189K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0048%	1h	92.410	−0.086%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.497%	$399K	$960K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.460	−0.032%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0023%	1h	92.493	+0.003%	$186.6M	$257.1M	20x	as long as short
Paradex CL-USD-PERP	−0.0011%	8h	92.465	−0.027%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.483	−0.007%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.510	+0.022%	$26.3M	$92.7M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.460	−0.032%	$43.0M	$111.0M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.589	+0.107%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.485	−0.005%	$42.1M	$50.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.490	0.000%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.465	−0.027%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.028	−0.500%	$5K	—	150x	as long as short
Lighter WTI	+0.0008%	1h	92.470	−0.022%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.520	+0.032%	$2.3M	$27.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.360	−0.141%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.500	+0.011%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.474	−0.017%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.468	−0.024%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0066%	4h	92.484	−0.006%	$532K	$299K	30x	as long as short
Pacifica CLshort	+0.0100%	1h	92.484	−0.006%	$354K	$596K	10x
KuCoin CLUSDTM	+0.0100%	4h	92.513	+0.025%	$7.3M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.550	+0.065%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.430	−0.064%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.465	−0.027%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.802%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.450	−0.043%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0268%	1h	92.473	−0.018%	$2K	$28K	5x	as long as short