Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0689%/8h= +75.5% APRpaid last 24h +0.092%

Price spread now: BloFin against Kraken Futures−0.046%117s7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs+$27as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.341% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.613%+$61 on $10k

Price spread, last 3 days (all we have)+0.026%+$3 · spread now −0.046%, 7d avg −0.017%

Together, before fees+0.639%+$64 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.030% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of −0.017%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.613% in total) that is about 8 hours. The two prices were read 117 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WTIOILUSD	92.243	−0.0449	get 0.0056% / 1h	19m 22s	$273K	$1.2M	25x
Short	BloFin CL-USDT	92.200	0.0240	get 0.0120% / 4h	19m 22s	$4.0M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.046%Rate

Funding earned: $144.77
Price spread: −0.046% → −0.017%: −$2.97
Slippage, 4 orders: −$12.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $107.68
Costs to cover: 0.341%
Break-even: 1.8 days

Slippage from Kraken Futures: live order book, 4 min ago; BloFin: 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 Kraken Futures live order book, 4 min ago	3.04 bp	12.5 bp −$13	22.0 bp −$220	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.54 bp	6.5 bp −$7	6.5 bp −$65	9.1 bp −$908	23.7 bp −$11.9K

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
Kraken Futures PF_WTIOILUSDlong	−0.0449%	1h	92.243	long leg	$273K	$1.2M	25x
GRVT CL_USDT_Perp	−0.0316%	4h	92.191	−0.056%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0268%	4h	92.240	−0.003%	$24.0M	$77.6M	20x	as long as short
Binance CLUSDT	−0.0185%	4h	92.220	−0.025%	$244.5M	$1.09B	100x	as long as short
Variational Omni CL	−0.0168%	4h	92.173	−0.076%	$13.3M	$12.7M	—	as long as short
Nado WTI-PERP	−0.0135%	1h	92.246	+0.003%	$925K	$737K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0075%	1h	92.230	−0.014%	$96K	$189K	15x	as long as short
Lighter WTI	−0.0072%	1h	92.182	−0.066%	$11.2M	$10.9M	20x	as long as short
Paradex CL-USD-PERP	−0.0059%	8h	92.175	−0.073%	$15K	$367	5x	as long as short
QFEX CL-USD	−0.0054%	1h	92.190	−0.057%	$2.4M	$2.3M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0050%	1h	92.210	−0.036%	$186.4M	$275.1M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0042%	1h	92.160	−0.090%	$3.5M	$6.3M	20x	as long as short
Gate CL_USDT	−0.0032%	8h	92.160	−0.090%	$21.3M	$58.0M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.197	−0.050%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.274	+0.034%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.234	−0.009%	$25.9M	$94.2M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.200	−0.046%	$43.0M	$112.8M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.322	+0.085%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.193	−0.054%	$42.0M	$51.6M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.230	−0.014%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.209	−0.037%	$19K	$241K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.231%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.785	−0.496%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.255	+0.013%	$2.0M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.190	−0.057%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.230	−0.014%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.194	−0.053%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.216	−0.029%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0062%	4h	92.213	−0.032%	$530K	$325K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.217	−0.028%	$7.1M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.190	−0.057%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.199	−0.047%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.215	−0.030%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.18	+9.690%	$19K	$11K	30x	as long as short
BloFin CL-USDTshort	+0.0240%	4h	92.200	−0.046%	$4.0M	$1.4M	50x
Aftermath Perps WTIUSD	+0.0323%	1h	92.198	−0.048%	$2K	$29K	5x	as long as short