WTI · Convergence Trade
Current Spread (mark)
updated 42s ago+0.321%higher than 41% of spread values(window 1D)
long $87.5489 · short $87.8300
Entry Spread (order book)-0.141%on $10,000thin book — size does not fully fill
long $87.5691 · short $87.4456(average execution prices, not mark)
market median $87.6174· long -0.1%· short +0.2%
Size per leg$= $20,000 total
every figure below scales from thisProfit Calculator
Slippage is not in these figures yet — the order book is still loading. Breakeven is understated and tradeability overstated until it arrives; wait for the refresh before judging the trade.
Three scenarios: the current spread 0.32% compresses to the target (0% = full convergence). Sized at $10,000 per leg.
| If spread converges to↓ target spread | 0% | 0.50% | 1.00% |
|---|---|---|---|
| Gross profit | +$32.11 | -$17.89 | -$67.89 |
| Round-trip fees | −$12.00 | −$12.00 | −$12.00 |
| Slippage(loading orderbook…) | — | — | — |
| Funding drag(est. 1h hold) | +$0.03 | +$0.03 | +$0.03 |
| Net potential | +$15.53 | -$34.47 | -$84.47 |
Breakeven move 0.1658%·Tradeability: 1.9× round-trip cost · marginal — barely covers costs
⏱ Hold time (estimated from history)
The current spread is already near its typical level (median 0.33%) — most of the convergence has happened, little potential left.
Estimate of historical spread behavior — not a guarantee of the future.
Spread Statistics
Window: 24h · 284 samples
Current
+0.321%
41 pct
Median
+0.333%
Average
+0.360%
P25 → P75
+0.290% … +0.430%
Range
+0.053% … +0.677%
Std dev
±0.122%
tf
LONG
Variational(dex)
Variational(dex)- Mark Price
- $87.5489
- Exchange Ticker
- CL
- Taker / Maker
- 0% / 0%
- Funding APR(4h)
- +0.00%
- OI
- $9.18M
- 24h Vol
- $2.68M
SHORT
Phemex(cex)
Phemex(cex)- Mark Price
- $87.8300
- Exchange Ticker
- XTIUSDT
- Taker / Maker
- 0.06% / 0.01%
- Funding APR(4h)
- +2.21%
- OI
- $942.62K
- 24h Vol
- $88.02K
⚠ slippage not modeled (virtual liquidity / RFQ venue)
Trade Short284 long / 284 short samples · 2 days · auto-refresh every 30s