Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: Bybit against Pacifica−0.035%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$280.275% 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)+0.046%+$5 · spread now −0.035%, 7d avg +0.021%

Together, before fees−0.269%+ Points / potential airdropPacifica: Active · farm board−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.056% cheaper against Pacifica than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica CL	90.928	0.0100	pay 0.0013% / 1h	18m 08s	$314K	$709K	10x
Short	Bybit CLUSDT	90.896	0	get 0.0000% / 8h	6h 18m	$26.9M	$95.7M	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 −0.035%Rate

Funding earned: −$21
Price spread: −0.035% → +0.021%: −$5.65
Slippage, 4 orders: −$8.55
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$54.19
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Pacifica: live order book, 33 min ago; Bybit: live order book, 4 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, 33 min ago	0.77 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.55 bp	6.6 bp −$7	8.6 bp −$86	17.8 bp −$1,778	90.7 bp −$45.4K

CL on 36 exchanges

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	−0.0520%	1h	90.860	−0.075%	$182K	$429K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0364%	1h	90.898	−0.033%	$304K	$1.3M	25x	as long as short
Aster CLUSD1	−0.0172%	4h	90.900	−0.031%	$24.6M	$65.5M	20x	as long as short
Binance CLUSDT	−0.0113%	4h	90.875	−0.058%	$246.3M	$1.09B	100x	as long as short
Bitget CLUSDT	−0.0110%	4h	90.897	−0.034%	$41.3M	$48.8M	100x	as long as short
Extended WTI-USD	−0.0096%	1h	90.930	+0.002%	$1.4M	$13.8M	10x	as long as short
edgeX CLUSDC	−0.0095%	4h	90.920	−0.008%	$508K	$379K	30x	as long as short
Variational Omni CL	−0.0084%	4h	90.906	−0.024%	$12.9M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0082%	1h	90.963	+0.039%	$914K	$651K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0072%	1h	90.840	−0.097%	$3.4M	$5.7M	20x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0070%	8h	90.840	−0.097%	$23.1M	$53.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0061%	1h	90.900	−0.031%	$176.6M	$209.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0042%	4h	91.038	+0.120%	$69K	$626K	25x	as long as short
Aftermath Perps WTIUSD	−0.0032%	1h	90.981	+0.059%	$2K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0025%	4h	90.870	−0.064%	$40.6M	$117.4M	50x	as long as short
QFEX CL-USD	−0.0023%	1h	90.920	−0.009%	$2.2M	$3.0M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	90.540	−0.427%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.969	+0.045%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	90.896	−0.035%	$26.9M	$95.7M	150x
RISEx CL/USDC	0.0000%	1h	90.949	+0.023%	$2.9M	$3.0M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.921	−0.007%	$17K	$237K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.800	−0.141%	$425K	$1.1M	15x	as long as short
Paradex CL-USD-PERP	+0.0013%	8h	90.890	−0.042%	$15K	$367	5x	as long as short
Lighter WTI	+0.0016%	1h	90.896	−0.035%	$11.1M	$9.5M	20x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	100.27	+10.272%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.970	+0.046%	$708K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.910	−0.020%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.893	−0.039%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.908	−0.022%	$2.0M	$81K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	90.950	+0.024%	$36K	$37K	20x	as long as short
Pacifica CLlong	+0.0100%	1h	90.928	long leg	$314K	$709K	10x
KuCoin CLUSDTM	+0.0100%	4h	90.932	+0.004%	$6.8M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.960	+0.035%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.881	−0.052%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0218%	4h	90.960	+0.035%	$3.9M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0250% / S −0.0172%	1h	90.925	−0.003%	$81K	—	111x	as long as short