Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0246%/8h= −27.0% APRpaid last 24h −0.017%

Price spread now: Kraken Futures against edgeX−0.018%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 4 days (all we have)−0.344%−$34 · spread now −0.018%, 7d avg +0.025%

Together, before fees−0.450%+ Points / potential airdropedgeX: Active · farm board−$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Kraken Futures is 0.043% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% 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	edgeX CLUSDC	92.769	−0.0068	get 0.0034% / 4h	3h 30m	$541K	$343K	30x
Short	Kraken Futures PF_WTIOILUSD	92.752	−0.0314	pay 0.0039% / 1h	30m 52s	$271K	$936K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against edgeX. 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 edgeXbpFee Kraken FuturesbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$51.71
Price spread: −0.018% → +0.025%: −$4.27
Slippage, 4 orders: −$31.91
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$106.89
Costs to cover: 0.509%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; Kraken Futures: live order book, 7 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 edgeX live order book, 3 min ago	10.02 bp	14.5 bp −$15	14.8 bp −$148	23.4 bp −$2,344	doesn't fit
Sell Kraken Futures live order book, 7 min ago	3.55 bp	9.3 bp −$9	23.0 bp −$230	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	−0.0397%	1h	92.740	−0.031%	$187K	$410K	15x	as long as short
Kraken Futures PF_WTIOILUSDshort	−0.0314%	1h	92.752	−0.018%	$271K	$936K	25x
Aster CLUSD1	−0.0228%	4h	92.890	+0.131%	$24.9M	$60.3M	20x	as long as short
Gate CL_USDT	−0.0152%	8h	92.730	−0.042%	$23.4M	$49.8M	100x	as long as short
Binance CLUSDT	−0.0125%	4h	92.890	+0.131%	$245.9M	$929.2M	100x	as long as short
Variational Omni CL	−0.0109%	4h	92.750	−0.021%	$13.5M	$10.7M	—	as long as short
Nado WTI-PERP	−0.0100%	1h	92.781	+0.013%	$950K	$600K	10x	as long as short
GRVT CL_USDT_Perp	−0.0094%	4h	92.734	−0.037%	$75K	$624K	25x	as long as short
Bitget CLUSDT	−0.0078%	4h	92.818	+0.053%	$42.2M	$41.6M	100x	as long as short
Aftermath Perps WTIUSD	−0.0068%	1h	92.798	+0.031%	$1K	$26K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDClong	−0.0068%	4h	92.769	long leg	$541K	$343K	30x
OKX CL-USDT-SWAP	−0.0049%	4h	92.790	+0.023%	$42.5M	$102.7M	50x	as long as short
QFEX CL-USD	−0.0026%	1h	92.740	−0.031%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0016%	1h	92.830	+0.066%	$184.3M	$192.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.754	−0.016%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.910	+0.152%	$27.4M	$81.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.778	+0.009%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.743	−0.028%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.330	−0.473%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.790	+0.023%	$37K	$39K	20x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	92.715	−0.058%	$16K	$367	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.610	−0.171%	$412K	$814K	15x	as long as short
Ondo Perps WTI-USD.P	+0.0030%	1h	92.690	−0.085%	$3.6M	$5.2M	20x	as long as short
Lighter WTI	+0.0032%	1h	92.870	+0.109%	$11.3M	$8.8M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.800	+0.034%	$1.7M	$14.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.700	−0.074%	$730K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.750	−0.020%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.766	−0.003%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.725	−0.047%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.755	−0.015%	$346K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.788	+0.021%	$7.1M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.750	−0.020%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.720	−0.052%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S −0.0007%	1h	92.735	−0.036%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0190%	4h	92.700	−0.074%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+10.095%	$19K	$5K	30x	as long as short