CL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0449%/8h= +49.2% APRnext payment +$0.56 per $10,000 · paid last 24h +0.009%

Price spread now: Deribit against Kraken Futures−0.021%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 3 days (all we have)0.000%$0 · spread now −0.021%, 7d avg +0.006%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.027% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.006%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$13 a day).

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.012% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.56 per $10,000. 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	Kraken Futures PF_WTIOILUSD	92.239	−0.0449	get 0.0056% / 1h	22m 16s	$273K	$1.2M	25x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.220	0	get 0.0000% / 1h	22m 16s	$96K	$189K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.021%Rate

Funding earned: $94.38
Price spread: −0.021% → +0.006%: −$2.68
Slippage, 4 orders: −$18.03
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $56.67
Costs to cover: 0.350%
Break-even: 2.8 days

Slippage from Kraken Futures: live order book, 1 min ago; Deribit: live order book, 56 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, 1 min ago	3.04 bp	12.5 bp −$13	22.0 bp −$220	doesn't fit	doesn't fit
Sell Deribit live order book, 56 min ago	0.54 bp	6.7 bp −$7	7.6 bp −$76	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
Kraken Futures PF_WTIOILUSDlong	−0.0449%	1h	92.239	long leg	$273K	$1.2M	25x
GRVT CL_USDT_Perp	−0.0316%	4h	92.230	−0.010%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0269%	4h	92.210	−0.031%	$24.0M	$77.4M	20x	as long as short
Binance CLUSDT	−0.0184%	4h	92.200	−0.042%	$244.7M	$1.09B	100x	as long as short
Variational Omni CL	−0.0162%	4h	92.224	−0.016%	$13.4M	$12.5M	—	as long as short
Nado WTI-PERP	−0.0141%	1h	92.235	−0.005%	$925K	$737K	10x	as long as short
Lighter WTI	−0.0080%	1h	92.176	−0.068%	$11.2M	$10.9M	20x	as long as short
Paradex CL-USD-PERP	−0.0066%	8h	92.169	−0.076%	$15K	$367	5x	as long as short
QFEX CL-USD	−0.0054%	1h	92.210	−0.031%	$2.4M	$2.3M	10x	as long as short
tradeXYZ xyz:CL	−0.0053%	1h	92.194	−0.049%	$186.4M	$275.0M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps WTI-USD.P	−0.0052%	1h	92.190	−0.053%	$3.5M	$6.3M	20x	as long as short
Gate CL_USDT	−0.0031%	8h	92.120	−0.129%	$21.3M	$58.0M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.191	−0.052%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.274	+0.038%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.196	−0.047%	$25.9M	$94.2M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.190	−0.053%	$43.0M	$112.9M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.307	+0.074%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.186	−0.057%	$42.0M	$51.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.066%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.196	−0.047%	$19K	$241K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUALshort	0.0000%	1h	92.220	−0.021%	$96K	$189K	15x
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.227%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.747	−0.533%	$5K	—	150x	as long as short
edgeX CLUSDC	+0.0016%	4h	92.258	+0.021%	$530K	$325K	30x	as long as short
Extended WTI-USD	+0.0032%	1h	92.225	−0.015%	$2.0M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.210	−0.031%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.230	−0.010%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.193	−0.050%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.186	−0.057%	$2.0M	$39K	20x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.204	−0.038%	$7.1M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.320	+0.088%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.175	−0.070%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.195	−0.048%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.18	+9.694%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.210	−0.031%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0299%	1h	92.207	−0.034%	$2K	$29K	5x	as long as short