Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0123%/8h= −13.4% APRpaid last 24h −0.029%

Price spread now: OKX against Pacifica−0.094%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.123%−$12 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.094%, 7d avg +0.021%

Together, before fees−0.012%+ Points / potential airdropPacifica: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and OKX is 0.115% cheaper against Pacifica than usual: you would sell low and buy high (−$12 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	89.494	0.0100	pay 0.0013% / 1h	48m 18s	$300K	$737K	10x
Short	OKX CL-USDT-SWAP	89.410	−0.0023	pay 0.0011% / 4h	1h 48m	$39.8M	$132.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$25.74
Price spread: −0.094% → +0.021%: −$11.51
Slippage, 4 orders: −$8.06
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$63.3
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from Pacifica: live order book, 63 min ago; OKX: 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, 63 min ago	0.77 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.56 bp	5.6 bp −$6	6.2 bp −$62	14.2 bp −$1,423	doesn't fit

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
Kraken Futures PF_WTIOILUSD	−0.0342%	1h	89.448	−0.052%	$319K	$1.8M	25x	as long as short
Aster CLUSD1	−0.0136%	4h	89.463	−0.035%	$24.3M	$71.5M	20x	as long as short
Bitget CLUSDT	−0.0112%	4h	89.398	−0.108%	$40.7M	$57.0M	100x	as long as short
GRVT CL_USDT_Perp	−0.0110%	4h	89.529	+0.039%	$66K	$632K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0090%	1h	89.490	−0.005%	$3.4M	$6.2M	20x	as long as short
Binance CLUSDT	−0.0086%	4h	89.440	−0.061%	$240.8M	$1.21B	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0085%	1h	89.410	−0.094%	$42K	$654K	15x	as long as short
tradeXYZ xyz:CL	−0.0079%	1h	89.388	−0.119%	$167.3M	$244.1M	20x	as long as short
Variational Omni CL	−0.0066%	4h	89.342	−0.170%	$12.6M	$11.3M	—	as long as short
Gate CL_USDT	−0.0065%	8h	89.370	−0.139%	$23.1M	$53.8M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0063%	1h	89.487	−0.008%	$1K	$26K	5x	as long as short
Extended WTI-USD	−0.0056%	1h	89.440	−0.061%	$1.3M	$14.5M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.320	−0.195%	$408K	$1.5M	15x	as long as short
edgeX CLUSDC	−0.0037%	4h	89.403	−0.102%	$494K	$384K	30x	as long as short
QFEX CL-USD	−0.0025%	1h	89.450	−0.049%	$2.2M	$2.8M	10x	as long as short
Nado WTI-PERP	−0.0024%	1h	89.486	−0.009%	$872K	$689K	10x	as long as short
OKX CL-USDT-SWAPshort	−0.0023%	4h	89.410	−0.094%	$39.8M	$132.7M	50x
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.229	−0.296%	$607	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.540	+0.051%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.432	−0.070%	$26.9M	$109.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	89.547	+0.059%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.380	−0.128%	$32K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.417	−0.086%	$17K	$237K	10x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	89.480	−0.016%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	89.491	−0.004%	$10.5M	$10.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.420	−0.083%	$690K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.410	−0.094%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.423	−0.080%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.430	−0.072%	$2.0M	$84K	20x	as long as short
Pacifica CLlong	+0.0100%	1h	89.494	long leg	$300K	$737K	10x
KuCoin CLUSDTM	+0.0100%	4h	89.425	−0.077%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.320	−0.195%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.405	−0.100%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0005%	1h	89.465	−0.033%	$77K	—	111x	as long as short
BloFin CL-USDT	+0.0215%	4h	89.410	−0.094%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.718%	$16K	$5K	30x	as long as short