Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0127%/8h= +14.0% APRpaid last 24h −0.005%

Price spread now: Gate against Kraken Futures−0.068%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.068%, 7d avg −0.075%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.075%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WTIOILUSD	93.533	−0.0203	get 0.0025% / 1h	12m 53s	$286K	$959K	25x
Short	Gate CL_USDT	93.470	−0.0076	pay 0.0076% / 8h	2h 12m	$22.0M	$50.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.068%Rate

Funding earned: $26.77
Price spread: −0.068% → −0.075%: $0.75
Slippage, 4 orders: −$12.74
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$10.22
Costs to cover: 0.377%
Break-even: 9.7 days

Slippage from Kraken Futures: live order book, 40 min ago; Gate: live order book, 1 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, 40 min ago	1.93 bp	11.2 bp −$11	19.5 bp −$195	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.54 bp	10.0 bp −$10	14.4 bp −$144	26.4 bp −$2,644	34.8 bp −$17.4K

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	−0.0391%	1h	93.510	−0.025%	$197K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0288%	4h	93.460	−0.079%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0287%	4h	93.550	+0.018%	$24.4M	$64.8M	20x	as long as short
Kraken Futures PF_WTIOILUSDlong	−0.0203%	1h	93.533	long leg	$286K	$959K	25x
Binance CLUSDT	−0.0180%	4h	93.540	+0.007%	$246.4M	$933.0M	100x	as long as short
Variational Omni CL	−0.0170%	4h	93.440	−0.100%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0154%	1h	93.473	−0.065%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0126%	4h	93.511	−0.024%	$42.2M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0122%	1h	93.566	+0.035%	$968K	$614K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0083%	1h	93.470	−0.068%	$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
Gate CL_USDTshort	−0.0076%	8h	93.470	−0.068%	$22.0M	$50.1M	100x
tradeXYZ xyz:CL	−0.0072%	1h	93.515	−0.020%	$185.1M	$213.6M	20x	as long as short
OKX CL-USDT-SWAP	−0.0045%	4h	93.540	+0.007%	$42.7M	$103.0M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	−0.036%	$404K	$931K	15x	as long as short
edgeX CLUSDC	−0.0040%	4h	93.447	−0.093%	$525K	$307K	30x	as long as short
QFEX CL-USD	−0.0032%	1h	93.500	−0.036%	$2.3M	$2.5M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.495	−0.041%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.550	+0.018%	$27.3M	$79.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.576	+0.045%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.500	−0.036%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.506	−0.030%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.054	−0.513%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	93.492	−0.044%	$16K	$367	5x	as long as short
Lighter WTI	+0.0016%	1h	93.527	−0.007%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.550	+0.018%	$2.0M	$16.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.480	−0.057%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.500	−0.036%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.516	−0.019%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.502	−0.034%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.522	−0.012%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTM	+0.0086%	4h	93.545	+0.012%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.460	−0.079%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.505	−0.031%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0194%	4h	93.480	−0.057%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.741%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0239% / S −0.0172%	1h	93.535	+0.002%	$84K	—	111x	as long as short