Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0285%/8h= +31.2% APRpaid last 24h −0.005%

Price spread now: Binance against Kraken Futures−0.081%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$350.349% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.225%+$23 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.081%, 7d avg +0.024%

Together, before fees+0.324%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.105% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of +0.024%). If the spread goes back, that is −$11 on $10k: about 29 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.225% in total) that is about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WTIOILUSD	89.873	−0.0340	get 0.0043% / 1h	27m 58s	$313K	$1.8M	25x
Short	Binance CLUSDT	89.800	−0.0055	pay 0.0028% / 4h	1h 27m	$241.0M	$1.20B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.081%Rate

Funding earned: $59.87
Price spread: −0.081% → +0.024%: −$10.51
Slippage, 4 orders: −$14.87
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $14.49
Costs to cover: 0.349%
Break-even: 5.3 days

Slippage from Kraken Futures: live order book, 4 min ago; Binance: live order book, 9 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 Kraken Futures live order book, 4 min ago	3.56 bp	11.5 bp −$12	22.9 bp −$229	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.56 bp	5.6 bp −$6	5.7 bp −$57	9.0 bp −$905	23.6 bp −$11.8K

CL on 36 exchanges

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
Kraken Futures PF_WTIOILUSDlong	−0.0340%	1h	89.873	long leg	$313K	$1.8M	25x
GRVT CL_USDT_Perp	−0.0098%	4h	89.910	+0.041%	$61K	$643K	25x	as long as short
Aster CLUSD1	−0.0097%	4h	89.830	−0.048%	$24.3M	$72.5M	20x	as long as short
Aftermath Perps WTIUSD	−0.0096%	1h	89.848	−0.027%	$1K	$26K	5x	as long as short
Bitget CLUSDT	−0.0092%	4h	89.779	−0.104%	$40.8M	$55.8M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0084%	1h	89.860	−0.014%	$39K	$651K	15x	as long as short
edgeX CLUSDC	−0.0074%	4h	89.943	+0.078%	$497K	$366K	30x	as long as short
Binance CLUSDTshort	−0.0055%	4h	89.800	−0.081%	$241.0M	$1.20B	100x
tradeXYZ xyz:CL	−0.0054%	1h	89.790	−0.092%	$166.1M	$242.0M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0044%	1h	89.860	−0.014%	$3.4M	$6.3M	20x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.650	−0.248%	$409K	$1.4M	15x	as long as short
Gate CL_USDT	−0.0036%	8h	89.730	−0.159%	$23.1M	$55.1M	100x	as long as short
Variational Omni CL	−0.0034%	4h	89.864	−0.010%	$12.7M	$11.2M	—	as long as short
Nado WTI-PERP	−0.0027%	1h	89.865	−0.009%	$880K	$688K	10x	as long as short
QFEX CL-USD	−0.0025%	1h	89.880	+0.008%	$2.2M	$2.6M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.496	−0.419%	$609	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.847	−0.028%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.816	−0.063%	$27.8M	$109.2M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	89.790	−0.092%	$40.3M	$134.0M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	89.922	+0.055%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.940	+0.075%	$33K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.878	+0.006%	$17K	$235K	10x	as long as short
Extended WTI-USD	+0.0016%	1h	89.790	−0.092%	$1.4M	$14.0M	10x	as long as short
Paradex CL-USD-PERP	+0.0024%	8h	89.812	−0.068%	$15K	$458	5x	as long as short
Lighter WTI	+0.0032%	1h	89.871	−0.002%	$10.6M	$10.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.780	−0.103%	$692K	$2.7M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.840	−0.037%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.824	−0.054%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.873	0.000%	$2.0M	$83K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.824	−0.054%	$301K	$739K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.783	−0.100%	$6.9M	$3.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.930	+0.064%	$52K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.842	−0.034%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0164% / S +0.0005%	1h	89.795	−0.087%	$75K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.294%	$16K	$5K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	89.780	−0.103%	$3.8M	$1.0M	50x	as long as short