CL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0148%/8h= +16.2% APRnext payment +$0.18 per $10,000 · paid last 24h +0.016%

Price spread now: Coinbase International against Kraken Futures−0.340%7-day average −0.120% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 4 days (all we have)+0.369%+$37 · spread now −0.340%, 7d avg −0.120%

Together, before fees+0.521%+$52 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.221% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.340% now, against its 7-day average of −0.120%). If the spread goes back, that is −$22 on $10k: about 5.0 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.152% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WTIOILUSD	93.067	−0.0196	get 0.0024% / 1h	20m 18s	$274K	$872K	25x
Short	Coinbase International WTIOIL-PERP-INTX	92.750	−0.0048	pay 0.0006% / 1h	20m 18s	$402K	$944K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.340%Rate

Funding earned: $31.01
Price spread: −0.340% → −0.120%: −$22.05
Slippage, 4 orders: −$14.21
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$25.26
Costs to cover: 0.342%
Break-even: 12.7 days

Slippage from Kraken Futures: live order book, 43 min ago; Coinbase International: live order book, 13 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, 43 min ago	3.33 bp	10.6 bp −$11	22.3 bp −$223	doesn't fit	doesn't fit
Sell Coinbase International live order book, 13 min ago	2.15 bp	7.3 bp −$7	9.0 bp −$90	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	−0.0287%	1h	93.020	−0.050%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0263%	4h	93.060	−0.007%	$24.0M	$66.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	93.067	+0.001%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSDlong	−0.0196%	1h	93.067	long leg	$274K	$872K	25x
Binance CLUSDT	−0.0186%	4h	93.050	−0.018%	$244.8M	$947.4M	100x	as long as short
Variational Omni CL	−0.0178%	4h	93.048	−0.020%	$13.5M	$10.9M	—	as long as short
Bitget CLUSDT	−0.0112%	4h	93.034	−0.035%	$41.9M	$43.7M	100x	as long as short
tradeXYZ xyz:CL	−0.0107%	1h	93.026	−0.044%	$184.6M	$214.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0096%	1h	93.057	−0.010%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0092%	1h	93.010	−0.061%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0057%	4h	93.050	−0.018%	$42.6M	$102.7M	50x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	−0.0048%	1h	92.750	−0.340%	$402K	$944K	15x
Gate CL_USDT	−0.0047%	8h	93.000	−0.072%	$20.8M	$51.9M	100x	as long as short
QFEX CL-USD	−0.0043%	1h	93.030	−0.039%	$2.4M	$1.7M	10x	as long as short
Nado WTI-PERP	−0.0029%	1h	93.095	+0.030%	$962K	$649K	10x	as long as short
edgeX CLUSDC	−0.0026%	4h	93.074	+0.008%	$530K	$300K	30x	as long as short
KuCoin CLUSDTM	−0.0022%	4h	93.038	−0.031%	$7.1M	$2.4M	50x	as long as short
Lighter WTI	0.0000%	1h	93.041	−0.027%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	+0.050%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.046	−0.022%	$26.7M	$80.3M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.111	+0.048%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.090	+0.025%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.044	−0.025%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.594	−0.508%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	93.028	−0.042%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.070	+0.004%	$2.0M	$20.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.040	−0.029%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.060	−0.007%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.030	−0.039%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.037	−0.032%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.045	−0.023%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.060	−0.007%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.012	−0.059%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0180%	4h	93.080	+0.014%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0215% / S −0.0142%	1h	93.045	−0.023%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.19	+9.799%	$19K	$11K	30x	as long as short