Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0131%/8h= +14.3% APRpaid last 24h +0.018%

Price spread now: OKX against Kraken Futures+0.025%7-day average −0.006% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.236%+$24 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.025%, 7d avg −0.006%

Together, before fees+0.260%+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and OKX is 0.031% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WTIOILUSD	93.077	−0.0210	get 0.0026% / 1h	11m 02s	$276K	$929K	25x
Short	OKX CL-USDT-SWAP	93.100	−0.0079	pay 0.0040% / 4h	11m 02s	$42.7M	$102.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $27.43
Price spread: +0.025% → −0.006%: $3.14
Slippage, 4 orders: −$10.55
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $0.02
Costs to cover: 0.306%
Break-even: 7.0 days

Slippage from Kraken Futures: live order book, 32 min ago; OKX: live order book, 3 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, 32 min ago	2.04 bp	10.0 bp −$10	24.9 bp −$249	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.54 bp	5.5 bp −$6	7.5 bp −$75	14.6 bp −$1,460	105.6 bp −$52.8K

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	−0.0287%	1h	93.040	−0.039%	$194K	$397K	15x	as long as short
Aster CLUSD1	−0.0269%	4h	93.150	+0.079%	$24.8M	$62.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.930	−0.158%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSDlong	−0.0210%	1h	93.077	long leg	$276K	$929K	25x
Binance CLUSDT	−0.0149%	4h	93.100	+0.025%	$247.2M	$921.2M	100x	as long as short
Variational Omni CL	−0.0143%	4h	92.971	−0.114%	$13.5M	$10.7M	—	as long as short
Gate CL_USDT	−0.0135%	8h	93.010	−0.072%	$23.1M	$50.4M	100x	as long as short
Bitget CLUSDT	−0.0114%	4h	93.058	−0.020%	$42.3M	$41.6M	100x	as long as short
Nado WTI-PERP	−0.0112%	1h	93.092	+0.017%	$953K	$614K	10x	as long as short
Aftermath Perps WTIUSD	−0.0100%	1h	93.008	−0.074%	$1K	$26K	5x	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-SWAPshort	−0.0079%	4h	93.100	+0.025%	$42.7M	$102.9M	50x
QFEX CL-USD	−0.0038%	1h	93.060	−0.018%	$2.3M	$2.4M	10x	as long as short
edgeX CLUSDC	−0.0021%	4h	93.014	−0.067%	$523K	$306K	30x	as long as short
tradeXYZ xyz:CL	−0.0018%	1h	93.070	−0.007%	$184.3M	$198.1M	20x	as long as short
Lighter WTI	−0.0016%	1h	93.041	−0.038%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.498%	$405K	$810K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0009%	1h	93.030	−0.050%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.077	0.000%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.140	+0.068%	$27.0M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.103	+0.028%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	−0.136%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.059	−0.019%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.604	−0.508%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0006%	8h	93.040	−0.039%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.090	+0.014%	$1.7M	$15.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.050	−0.029%	$737K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.040	−0.039%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.051	−0.028%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.060	−0.018%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.068	−0.009%	$347K	$591K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.077	0.000%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.950	−0.136%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.037	−0.042%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0160%	4h	93.040	−0.039%	$4.1M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.731%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0259% / S −0.0206%	1h	93.065	−0.013%	$83K	—	111x	as long as short