Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.029%

Price spread now: Coinbase International against KuCoin−0.321%7-day average −0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.328%−$33 on $10k

Price spread, last 4 days (all we have)+0.177%+$18 · spread now −0.321%, 7d avg −0.122%

Together, before fees−0.151%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.200% cheaper against KuCoin than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.122%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	93.049	−0.0022	get 0.0011% / 4h	16m 57s	$7.1M	$2.4M	50x
Short	Coinbase International WTIOIL-PERP-INTX	92.750	−0.0048	pay 0.0006% / 1h	16m 57s	$402K	$944K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.321%Rate

Funding earned: −$5.46
Price spread: −0.321% → −0.122%: −$19.96
Slippage, 4 orders: −$10.82
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$58.24
Costs to cover: 0.328%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; Coinbase International: live order book, 16 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, 1 min ago	1.99 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 16 min ago	2.15 bp	7.3 bp −$7	9.0 bp −$90	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	−0.0502%	1h	92.990	−0.063%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.040	−0.010%	$24.0M	$66.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0240%	4h	93.027	−0.023%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	93.043	−0.007%	$274K	$872K	25x	as long as short
Binance CLUSDT	−0.0185%	4h	93.029	−0.022%	$244.6M	$947.3M	100x	as long as short
Variational Omni CL	−0.0178%	4h	93.048	−0.001%	$13.5M	$10.9M	—	as long as short
Bitget CLUSDT	−0.0116%	4h	93.030	−0.020%	$41.9M	$43.7M	100x	as long as short
tradeXYZ xyz:CL	−0.0108%	1h	93.010	−0.042%	$184.6M	$214.5M	20x	as long as short
Aftermath Perps WTIUSD	−0.0101%	1h	93.041	−0.008%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0086%	1h	92.970	−0.085%	$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
OKX CL-USDT-SWAP	−0.0054%	4h	93.020	−0.031%	$42.5M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	−0.0048%	1h	92.750	−0.321%	$402K	$944K	15x
Gate CL_USDT	−0.0047%	8h	92.960	−0.096%	$20.8M	$52.0M	100x	as long as short
QFEX CL-USD	−0.0043%	1h	93.020	−0.031%	$2.4M	$1.7M	10x	as long as short
Nado WTI-PERP	−0.0028%	1h	93.072	+0.024%	$962K	$649K	10x	as long as short
KuCoin CLUSDTMlong	−0.0022%	4h	93.049	long leg	$7.1M	$2.4M	50x
edgeX CLUSDC	−0.0012%	4h	93.026	−0.025%	$530K	$301K	30x	as long as short
Lighter WTI	0.0000%	1h	93.023	−0.028%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	+0.069%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.037	−0.013%	$26.7M	$80.3M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.088	+0.042%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.090	+0.044%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.017	−0.034%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.588	−0.495%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0014%	8h	93.007	−0.045%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.070	+0.023%	$2.0M	$20.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.030	−0.020%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.040	−0.010%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.021	−0.030%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.012	−0.040%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.023	−0.028%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.040	−0.010%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.996	−0.057%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0185%	4h	93.030	−0.020%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0215% / S −0.0143%	1h	93.015	−0.037%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+9.889%	$19K	$11K	30x	as long as short