Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.024%

Price spread now: Bybit against KuCoin+0.026%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

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

costs, in and out, $10k−$320.315% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.402%−$40 on $10k

Price spread, last 7 days−0.113%−$11 · spread now +0.026%, 7d avg −0.021%

Together, before fees−0.515%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.046% dearer against KuCoin than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.021%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	89.809	0.0100	pay 0.0050% / 4h	1h 28m	$6.9M	$3.0M	50x
Short	Bybit CLUSDT	89.832	0	get 0.0000% / 8h	5h 28m	$27.8M	$109.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$21
Price spread: +0.026% → −0.021%: $4.65
Slippage, 4 orders: −$8.51
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$47.86
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bybit: live order book, 4 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 KuCoin live order book, 3 min ago	1.45 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.56 bp	6.2 bp −$6	8.3 bp −$83	19.5 bp −$1,955	89.0 bp −$44.5K

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_WTIOILUSD	−0.0340%	1h	89.873	+0.071%	$313K	$1.8M	25x	as long as short
GRVT CL_USDT_Perp	−0.0098%	4h	89.910	+0.112%	$61K	$643K	25x	as long as short
Aster CLUSD1	−0.0097%	4h	89.870	+0.068%	$24.3M	$72.5M	20x	as long as short
Aftermath Perps WTIUSD	−0.0096%	1h	89.848	+0.044%	$1K	$26K	5x	as long as short
Bitget CLUSDT	−0.0092%	4h	89.858	+0.055%	$40.9M	$55.8M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0084%	1h	89.860	+0.057%	$39K	$651K	15x	as long as short
edgeX CLUSDC	−0.0074%	4h	89.943	+0.149%	$497K	$366K	30x	as long as short
Binance CLUSDT	−0.0055%	4h	89.830	+0.023%	$241.1M	$1.20B	100x	as long as short
tradeXYZ xyz:CL	−0.0054%	1h	89.790	−0.021%	$166.1M	$242.0M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0044%	1h	89.860	+0.057%	$3.4M	$6.3M	20x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.650	−0.177%	$409K	$1.4M	15x	as long as short
Gate CL_USDT	−0.0036%	8h	89.760	−0.055%	$23.1M	$55.1M	100x	as long as short
Variational Omni CL	−0.0034%	4h	89.864	+0.061%	$12.7M	$11.2M	—	as long as short
Nado WTI-PERP	−0.0027%	1h	89.865	+0.062%	$880K	$688K	10x	as long as short
QFEX CL-USD	−0.0025%	1h	89.880	+0.079%	$2.2M	$2.6M	10x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.496	−0.349%	$609	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.847	+0.043%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	89.832	+0.026%	$27.8M	$109.2M	150x
OKX CL-USDT-SWAP	0.0000%	4h	89.810	+0.001%	$40.3M	$134.0M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	89.922	+0.126%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.940	+0.146%	$33K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.878	+0.077%	$17K	$235K	10x	as long as short
Extended WTI-USD	+0.0016%	1h	89.890	+0.090%	$1.4M	$14.0M	10x	as long as short
Paradex CL-USD-PERP	+0.0024%	8h	89.812	+0.003%	$15K	$458	5x	as long as short
Lighter WTI	+0.0032%	1h	89.871	+0.069%	$10.6M	$10.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.780	−0.032%	$692K	$2.7M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.840	+0.035%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.824	+0.017%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.873	+0.071%	$2.0M	$83K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.824	+0.017%	$301K	$739K	10x	as long as short
KuCoin CLUSDTMlong	+0.0100%	4h	89.809	long leg	$6.9M	$3.0M	50x
ApeX Omni CLUSDT	+0.0100%	1h	89.930	+0.135%	$52K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.842	+0.037%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0164% / S +0.0005%	1h	89.795	−0.016%	$75K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.365%	$16K	$5K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	89.780	−0.032%	$3.8M	$1.0M	50x	as long as short