Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0406%/8h= −44.4% APRpaid last 24h +0.018%

Price spread now: edgeX against Kraken Futures+0.003%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$470.475% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 3 days (all we have)+0.100%+$10 · spread now +0.003%, 7d avg −0.011%

Together, before fees+0.137%+ Points / potential airdropedgeX: Active · farm board+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.037% in total (about 1.9% 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	Kraken Futures PF_WTIOILUSD	92.038	0.0450	pay 0.0056% / 1h	7m 09s	$275K	$1.2M	25x
Short	edgeX CLUSDC	92.041	0.0044	get 0.0022% / 4h	1h 07m	$529K	$334K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$85.19
Price spread: +0.003% → −0.011%: $1.41
Slippage, 4 orders: −$28.5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$131.28
Costs to cover: 0.475%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; edgeX: live order book, 12 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	2.34 bp	10.3 bp −$10	17.1 bp −$171	doesn't fit	doesn't fit
Sell edgeX live order book, 12 min ago	9.94 bp	14.4 bp −$14	14.7 bp −$147	21.7 bp −$2,170	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	−0.0293%	1h	92.040	+0.002%	$96K	$189K	15x	as long as short
Lighter WTI	−0.0272%	1h	92.018	−0.022%	$11.1M	$11.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0214%	4h	91.989	−0.054%	$58K	$715K	25x	as long as short
Nado WTI-PERP	−0.0161%	1h	92.084	+0.050%	$923K	$747K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0155%	1h	91.980	−0.063%	$3.5M	$6.4M	20x	as long as short
Aster CLUSD1	−0.0149%	4h	92.040	+0.002%	$24.0M	$77.9M	20x	as long as short
tradeXYZ xyz:CL	−0.0133%	1h	92.036	−0.002%	$185.5M	$278.2M	20x	as long as short
Bullet WTIOIL-USD	−0.0102%	1h	92.020	−0.019%	$18K	$241K	10x	as long as short
Paradex CL-USD-PERP	−0.0099%	8h	91.997	−0.044%	$15K	$367	5x	as long as short
Aftermath Perps WTIUSD	−0.0096%	1h	92.041	+0.003%	$2K	$29K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CLUSDT	−0.0051%	4h	92.020	−0.020%	$245.0M	$1.11B	100x	as long as short
Variational Omni CL	−0.0018%	4h	92.003	−0.039%	$13.4M	$13.3M	—	as long as short
Gate CL_USDT	−0.0009%	8h	91.960	−0.085%	$21.3M	$59.6M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.076%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.048	+0.011%	$25.5M	$95.6M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.020	−0.020%	$43.2M	$113.3M	50x	as long as short
QFEX CL-USD	0.0000%	1h	92.010	−0.031%	$2.4M	$2.6M	10x	as long as short
Bitget CLUSDT	0.0000%	4h	91.999	−0.042%	$42.1M	$52.2M	100x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.600	−0.476%	$4K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.060	+0.024%	$37K	$99K	20x	as long as short
Polymarket Perps WTIOIL-USD	+0.0010%	1h	92.023	−0.016%	$1.6M	$1.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.080	+0.046%	$2.0M	$28.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.010	−0.031%	$723K	$3.1M	40x	as long as short
edgeX CLUSDCshort	+0.0044%	4h	92.041	+0.003%	$529K	$334K	30x
Vest CL-PERP	+0.0046%	1h	92.090	+0.056%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.025	−0.014%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.029	−0.009%	$332K	$578K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.037	−0.001%	$7.2M	$2.0M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.990	−0.052%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.999	−0.043%	$4K	—	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0112%	1h	92.030	−0.009%	$399K	$1.1M	15x	as long as short
Injective WTI/USDC PERP	+0.0172%	1h	101.16	+9.910%	$19K	$18K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.015	−0.025%	$76K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	91.990	−0.052%	$4.0M	$1.4M	50x	as long as short
Kraken Futures PF_WTIOILUSDlong	+0.0450%	1h	92.038	long leg	$275K	$1.2M	25x
RISEx CL/USDC	+0.0977%	1h	92.141	+0.112%	$3.3M	$2.7M	20x	as long as short