Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0242%/8h= +26.5% APRpaid last 24h −0.011%

Price spread now: GRVT against Kraken Futures+0.117%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.117%, 7d avg +0.004%

Together, before fees+0.088%+ Points / potential airdropGRVT: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and GRVT is 0.112% dearer against Kraken Futures than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.004%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.107% in total (about 5.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WTIOILUSD	89.465	−0.0342	get 0.0043% / 1h	8m 31s	$304K	$1.9M	25x
Short	GRVT CL_USDT_Perp	89.569	−0.0100	pay 0.0050% / 4h	1h 08m	$67K	$655K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.117%Rate

Funding earned: $50.77
Price spread: +0.117% → +0.004%: $11.23
Slippage, 4 orders: −$17.17
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $25.82
Costs to cover: 0.362%
Break-even: 3.4 days

Slippage from Kraken Futures: live order book, 3 min ago; GRVT: live order book, 37 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, 3 min ago	2.96 bp	9.5 bp −$9	19.6 bp −$196	doesn't fit	doesn't fit
Sell GRVT live order book, 37 min ago	1.12 bp	5.6 bp −$6	8.1 bp −$81	doesn't fit	doesn't fit

CL on 36 exchanges

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	−0.0342%	1h	89.465	long leg	$304K	$1.9M	25x
Aftermath Perps WTIUSD	−0.0140%	1h	89.535	+0.078%	$1K	$26K	5x	as long as short
GRVT CL_USDT_Perpshort	−0.0100%	4h	89.569	+0.117%	$67K	$655K	25x
tradeXYZ xyz:CL	−0.0095%	1h	89.350	−0.128%	$174.4M	$247.8M	20x	as long as short
Bitget CLUSDT	−0.0086%	4h	89.363	−0.114%	$40.7M	$56.6M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0085%	1h	89.470	+0.006%	$39K	$650K	15x	as long as short
edgeX CLUSDC	−0.0083%	4h	89.414	−0.057%	$498K	$373K	30x	as long as short
Aster CLUSD1	−0.0072%	4h	89.439	−0.028%	$24.2M	$72.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.760	+0.330%	$416K	$1.5M	15x	as long as short
Ondo Perps WTI-USD.P	−0.0031%	1h	89.320	−0.162%	$3.4M	$6.4M	20x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CLUSDT	−0.0027%	4h	89.410	−0.061%	$241.5M	$1.20B	100x	as long as short
Nado WTI-PERP	−0.0026%	1h	89.536	+0.079%	$879K	$682K	10x	as long as short
QFEX CL-USD	−0.0025%	1h	89.410	−0.061%	$2.2M	$2.8M	10x	as long as short
Gate CL_USDT	−0.0011%	8h	89.340	−0.140%	$23.8M	$56.7M	100x	as long as short
Variational Omni CL	−0.0002%	4h	89.722	+0.288%	$12.5M	$11.2M	—	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.117	−0.389%	$606	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.408	−0.063%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	89.400	−0.072%	$1.3M	$13.6M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	89.410	−0.061%	$28.7M	$110.0M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	89.390	−0.084%	$40.3M	$133.7M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	89.630	+0.185%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.710	+0.274%	$33K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.509	+0.049%	$18K	$236K	10x	as long as short
Paradex CL-USD-PERP	+0.0027%	8h	89.381	−0.094%	$15K	$458	5x	as long as short
Lighter WTI	+0.0032%	1h	89.372	−0.104%	$10.5M	$10.9M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.710	+0.274%	$692K	$2.7M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.530	+0.073%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.457	−0.009%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.470	+0.006%	$2.0M	$83K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.373	−0.103%	$306K	$747K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.360	−0.117%	$6.9M	$3.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	89.730	+0.296%	$52K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.471	+0.007%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0161% / S +0.0027%	1h	89.585	+0.134%	$70K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.751%	$16K	$5K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	89.470	+0.006%	$3.9M	$1.0M	50x	as long as short