Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0574%/8h= −62.9% APRpaid last 24h −0.043%

Price spread now: Deribit against KuCoin−0.041%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.084%−$8 on $10k

Price spread, last 3 days (all we have)−0.002%$0 · spread now −0.041%, 7d avg +0.003%

Together, before fees−0.086%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Deribit is 0.043% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.084% in total (about -8.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	92.758	0.0070	pay 0.0035% / 4h	2h 40m	$7.2M	$2.3M	50x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.720	−0.0504	pay 0.0063% / 1h	40m 33s	$198K	$366K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$120.62
Price spread: −0.041% → +0.003%: −$4.35
Slippage, 4 orders: −$11.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$155.31
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Deribit: live order book, 28 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, 2 min ago	1.67 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 28 min ago	0.54 bp	4.0 bp −$4	5.6 bp −$56	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-PERPETUALshort	−0.0504%	1h	92.720	−0.041%	$198K	$366K	15x
Aster CLUSD1	−0.0333%	4h	92.760	+0.002%	$23.9M	$74.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0310%	4h	92.743	−0.016%	$50K	$632K	25x	as long as short
Binance CLUSDT	−0.0274%	4h	92.750	−0.009%	$244.5M	$994.2M	100x	as long as short
Variational Omni CL	−0.0266%	4h	92.741	−0.019%	$13.3M	$11.1M	—	as long as short
Gate CL_USDT	−0.0162%	8h	92.710	−0.052%	$20.9M	$53.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0068%	1h	92.746	−0.013%	$185.2M	$225.1M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0067%	1h	92.760	+0.002%	$3.5M	$5.8M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.785%	$399K	$942K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.801	+0.046%	$275K	$870K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WTI-PERP	−0.0037%	1h	92.793	+0.037%	$935K	$678K	10x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	−0.030%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0010%	4h	92.770	+0.013%	$42.8M	$106.3M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.754	−0.005%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	92.790	+0.034%	$2.1M	$25.1M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	92.761	+0.003%	$26.4M	$83.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.738	−0.022%	$42.0M	$45.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.034%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.758	0.000%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.317	−0.475%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0023%	8h	92.736	−0.024%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.752	−0.006%	$11.2M	$10.1M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.870	+0.121%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.440%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.770	+0.013%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.767	+0.010%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.763	+0.005%	$2.1M	$61K	20x	as long as short
Aftermath Perps WTIUSD	+0.0058%	1h	92.764	+0.006%	$2K	$28K	5x	as long as short
edgeX CLUSDC	+0.0069%	4h	92.761	+0.004%	$533K	$297K	30x	as long as short
KuCoin CLUSDTMlong	+0.0070%	4h	92.758	long leg	$7.2M	$2.3M	50x
Pacifica CL	+0.0100%	1h	92.754	−0.004%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.800	+0.045%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.731	−0.029%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.755	−0.003%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.93	+9.891%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0228%	4h	92.730	−0.030%	$4.0M	$1.2M	50x	as long as short