Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.016%

Price spread now: Kraken Futures against Bybit−0.004%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now −0.004%, 7d avg +0.006%

Together, before fees−0.141%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	93.151	0	get 0.0000% / 8h	3h 25m	$26.8M	$80.6M	150x
Short	Kraken Futures PF_WTIOILUSD	93.147	−0.0061	pay 0.0008% / 1h	25m 00s	$278K	$955K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$12.81
Price spread: −0.004% → +0.006%: −$1.02
Slippage, 4 orders: −$10.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$45.1
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Kraken Futures: live order book, 33 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 Bybit live order book, 4 min ago	0.54 bp	6.2 bp −$6	7.9 bp −$79	14.2 bp −$1,418	77.0 bp −$38.5K
Sell Kraken Futures live order book, 33 min ago	2.42 bp	7.7 bp −$8	21.9 bp −$219	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	−0.0716%	1h	93.110	−0.044%	$199K	$370K	15x	as long as short
GRVT CL_USDT_Perp	−0.0286%	4h	93.168	+0.018%	$54K	$645K	25x	as long as short
Aster CLUSD1	−0.0265%	4h	93.169	+0.019%	$24.2M	$66.3M	20x	as long as short
Binance CLUSDT	−0.0177%	4h	93.142	−0.010%	$245.7M	$940.5M	100x	as long as short
Variational Omni CL	−0.0162%	4h	93.128	−0.025%	$13.3M	$10.9M	—	as long as short
Bitget CLUSDT	−0.0128%	4h	93.136	−0.016%	$42.0M	$43.2M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0126%	1h	93.080	−0.076%	$3.5M	$5.3M	20x	as long as short
Nado WTI-PERP	−0.0121%	1h	93.215	+0.069%	$964K	$631K	10x	as long as short
Aftermath Perps WTIUSD	−0.0117%	1h	93.162	+0.012%	$2K	$27K	5x	as long as short
Gate CL_USDT	−0.0062%	8h	93.090	−0.065%	$21.2M	$51.4M	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_WTIOILUSDshort	−0.0061%	1h	93.147	−0.004%	$278K	$955K	25x
OKX CL-USDT-SWAP	−0.0052%	4h	93.140	−0.012%	$42.7M	$102.8M	50x	as long as short
tradeXYZ xyz:CL	−0.0045%	1h	93.150	−0.001%	$184.4M	$218.0M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	+0.010%	$403K	$929K	15x	as long as short
edgeX CLUSDC	−0.0038%	4h	93.177	+0.027%	$524K	$305K	30x	as long as short
QFEX CL-USD	−0.0033%	1h	93.130	−0.023%	$2.3M	$1.8M	10x	as long as short
Paradex CL-USD-PERP	−0.0020%	8h	93.139	−0.013%	$16K	$367	5x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.210	+0.063%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.173	+0.023%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.151	long leg	$26.8M	$80.6M	150x
RISEx CL/USDC	0.0000%	1h	93.219	+0.073%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.145	−0.006%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.720	−0.463%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0004%	4h	93.159	+0.009%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	+0.0016%	1h	93.150	−0.001%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.195	+0.047%	$2.0M	$18.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.110	−0.044%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.170	+0.020%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.155	+0.004%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.141	−0.011%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.148	−0.004%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.180	+0.031%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.111	−0.043%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0191%	4h	93.150	−0.001%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.51	+10.047%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0222% / S −0.0150%	1h	93.145	−0.006%	$81K	—	111x	as long as short