Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0071%/8h= −7.7% APRpaid last 24h +0.051%

Price spread now: KuCoin against Kraken Futures−0.010%52s7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs+$12as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.374% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.494%+$49 on $10k

Price spread, last 4 days (all we have)+0.364%+$36 · spread now −0.010%, 7d avg +0.003%

Together, before fees+0.858%+$86 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.494%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WTIOILUSD	92.917	0.0105	pay 0.0013% / 1h	27m 24s	$273K	$873K	25x
Short	KuCoin CLUSDTM	92.908	0.0034	get 0.0017% / 4h	1h 27m	$7.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$14.86
Price spread: −0.010% → +0.003%: −$1.23
Slippage, 4 orders: −$15.38
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$53.47
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 41 min ago; KuCoin: live order book, 11 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, 41 min ago	3.23 bp	10.7 bp −$11	16.7 bp −$167	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	1.40 bp	8.3 bp −$8	doesn't fit	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	−0.0611%	1h	92.860	−0.061%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0250%	4h	92.914	−0.003%	$23.9M	$68.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.823	−0.102%	$61K	$625K	25x	as long as short
Binance CLUSDT	−0.0208%	4h	92.890	−0.029%	$245.0M	$954.6M	100x	as long as short
Variational Omni CL	−0.0203%	4h	92.796	−0.130%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0169%	1h	92.780	−0.147%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0156%	1h	92.957	+0.043%	$962K	$662K	10x	as long as short
edgeX CLUSDC	−0.0091%	4h	92.834	−0.089%	$529K	$301K	30x	as long as short
Gate CL_USDT	−0.0087%	8h	92.850	−0.072%	$20.9M	$52.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0067%	1h	92.899	−0.019%	$184.6M	$218.3M	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	−0.0052%	4h	92.900	−0.018%	$42.8M	$102.1M	50x	as long as short
Aftermath Perps WTIUSD	−0.0050%	1h	92.868	−0.053%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.180%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.890	−0.029%	$2.5M	$1.7M	10x	as long as short
Extended WTI-USD	−0.0024%	1h	92.960	+0.046%	$2.1M	$22.7M	10x	as long as short
Lighter WTI	0.0000%	1h	92.899	−0.019%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.939	+0.024%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.930	+0.014%	$26.5M	$81.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.904	−0.014%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.890	−0.029%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.897	−0.022%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.475	−0.476%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	92.893	−0.025%	$16K	$367	5x	as long as short
KuCoin CLUSDTMshort	+0.0034%	4h	92.908	−0.010%	$7.3M	$2.3M	50x
StandX CL-USD	+0.0040%	1h	92.470	−0.481%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	+0.003%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.929	+0.013%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.884	−0.036%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.026	+0.117%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.903	−0.015%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	−0.061%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.853	−0.069%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSDlong	+0.0105%	1h	92.917	long leg	$273K	$873K	25x
BloFin CL-USDT	+0.0192%	4h	92.810	−0.115%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.885	−0.034%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.726%	$19K	$11K	30x	as long as short