Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0682%/8h= +74.7% APRpaid last 24h +0.043%

Price spread now: KuCoin against Deribit+0.063%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−$24as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.084%+$8 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.063%, 7d avg −0.003%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and KuCoin is 0.065% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.003%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.084% in total (about 8.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WTIOIL_USDC-PERPETUAL	92.700	−0.0612	get 0.0077% / 1h	40m 17s	$198K	$366K	15x
Short	KuCoin CLUSDTM	92.758	0.0070	get 0.0035% / 4h	2h 40m	$7.2M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.063%Rate

Funding earned: $143.27
Price spread: +0.063% → −0.003%: $6.51
Slippage, 4 orders: −$11.35
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $119.43
Costs to cover: 0.303%
Break-even: 1.2 days

Slippage from Deribit: live order book, 28 min ago; KuCoin: live order book, 3 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 Deribit live order book, 28 min ago	0.54 bp	7.7 bp −$8	9.4 bp −$94	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.67 bp	8.6 bp −$9	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-PERPETUALlong	−0.0612%	1h	92.700	long leg	$198K	$366K	15x
Aster CLUSD1	−0.0333%	4h	92.767	+0.072%	$23.9M	$74.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0310%	4h	92.743	+0.046%	$50K	$632K	25x	as long as short
Binance CLUSDT	−0.0274%	4h	92.740	+0.043%	$244.5M	$994.3M	100x	as long as short
Variational Omni CL	−0.0266%	4h	92.741	+0.044%	$13.3M	$11.1M	—	as long as short
Gate CL_USDT	−0.0162%	8h	92.690	−0.011%	$20.9M	$53.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0069%	1h	92.736	+0.039%	$185.2M	$225.1M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0067%	1h	92.760	+0.065%	$3.5M	$5.8M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.723%	$399K	$939K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.778	+0.084%	$275K	$870K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WTI-PERP	−0.0037%	1h	92.793	+0.100%	$935K	$678K	10x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	+0.032%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0011%	4h	92.750	+0.054%	$42.8M	$106.3M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.754	+0.058%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.760	+0.065%	$26.3M	$83.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.734	+0.037%	$42.0M	$45.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.097%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.745	+0.049%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.307	−0.424%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.780	+0.086%	$2.1M	$25.1M	10x	as long as short
Paradex CL-USD-PERP	+0.0023%	8h	92.736	+0.039%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.745	+0.049%	$11.2M	$10.1M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.870	+0.183%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.378%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.770	+0.076%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.756	+0.060%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.735	+0.038%	$2.1M	$61K	20x	as long as short
Aftermath Perps WTIUSD	+0.0053%	1h	92.758	+0.062%	$2K	$28K	5x	as long as short
edgeX CLUSDC	+0.0069%	4h	92.761	+0.066%	$533K	$297K	30x	as long as short
KuCoin CLUSDTMshort	+0.0070%	4h	92.758	+0.063%	$7.2M	$2.3M	50x
Pacifica CL	+0.0100%	1h	92.754	+0.058%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.800	+0.108%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.724	+0.026%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.735	+0.038%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.93	+9.960%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0228%	4h	92.730	+0.032%	$4.0M	$1.2M	50x	as long as short