Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.025%

Price spread now: KuCoin against Bullet+0.020%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on Bullet Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.020%, 7d avg +0.003%

Together, before fees+0.022%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet WTIOIL-USD	93.158	0	get 0.0000% / 1h	19m 26s	$19K	$241K	10x
Short	KuCoin CLUSDTM	93.176	0.0004	get 0.0002% / 4h	3h 19m	$7.1M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bullet. 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 BulletbpFee KuCoinbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0.84
Price spread: +0.020% → +0.003%: $1.65
Slippage, 4 orders: −$11.73
Fee Bullet: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$29.24
Costs to cover: 0.317%
Break-even: 250.7 days

Slippage from Bullet: live order book, 35 min ago; KuCoin: 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 Bullet live order book, 35 min ago	0.54 bp	6.2 bp −$6	16.8 bp −$168	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.39 bp	10.0 bp −$10	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0608%	1h	93.120	−0.040%	$199K	$370K	15x	as long as short
GRVT CL_USDT_Perp	−0.0326%	4h	93.123	−0.038%	$54K	$645K	25x	as long as short
Aster CLUSD1	−0.0277%	4h	93.186	+0.030%	$24.3M	$66.0M	20x	as long as short
Binance CLUSDT	−0.0184%	4h	93.161	+0.004%	$245.9M	$940.1M	100x	as long as short
Variational Omni CL	−0.0167%	4h	93.119	−0.042%	$13.3M	$10.9M	—	as long as short
Ondo Perps WTI-USD.P	−0.0134%	1h	93.120	−0.040%	$3.5M	$5.4M	20x	as long as short
Bitget CLUSDT	−0.0132%	4h	93.152	−0.006%	$42.0M	$43.2M	100x	as long as short
Aftermath Perps WTIUSD	−0.0125%	1h	93.144	−0.014%	$2K	$27K	5x	as long as short
Nado WTI-PERP	−0.0119%	1h	93.229	+0.076%	$964K	$630K	10x	as long as short
Gate CL_USDT	−0.0065%	8h	93.100	−0.062%	$21.3M	$51.5M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.159	+0.002%	$280K	$957K	25x	as long as short
OKX CL-USDT-SWAP	−0.0060%	4h	93.140	−0.019%	$42.6M	$102.8M	50x	as long as short
tradeXYZ xyz:CL	−0.0053%	1h	93.167	+0.010%	$184.4M	$217.6M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	+0.003%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.150	−0.008%	$2.3M	$1.9M	10x	as long as short
Paradex CL-USD-PERP	−0.0026%	8h	93.145	−0.013%	$16K	$367	5x	as long as short
edgeX CLUSDC	−0.0025%	4h	93.146	−0.013%	$524K	$306K	30x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.210	+0.056%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.173	+0.016%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.170	+0.013%	$26.8M	$80.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.222	+0.069%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	93.158	long leg	$19K	$241K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.732	−0.457%	$5K	—	150x	as long as short
KuCoin CLUSDTMshort	+0.0004%	4h	93.176	+0.020%	$7.1M	$2.4M	50x
Lighter WTI	+0.0008%	1h	93.157	−0.001%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0016%	1h	93.210	+0.056%	$2.0M	$18.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.120	−0.040%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.190	+0.035%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.167	+0.010%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.153	−0.005%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.160	+0.003%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.220	+0.067%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.122	−0.038%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0184%	4h	93.110	−0.051%	$4.0M	$999K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.51	+10.039%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0223% / S −0.0151%	1h	93.155	−0.003%	$81K	—	111x	as long as short