Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0131%/8h= −14.3% APRpaid last 24h −0.033%

Price spread now: Ondo Perps against KuCoin−0.046%7-day average −0.078% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 7 days+0.009%+$1 · spread now −0.046%, 7d avg −0.078%

Together, before fees−0.025%+ Points / potential airdropOndo Perps: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.032% dearer against KuCoin than usual: you sell high and buy low (spread −0.046% now, against its 7-day average of −0.078%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.034% in total) that is about 6.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	92.693	0.0078	pay 0.0039% / 4h	3h 04m	$7.2M	$2.3M	50x
Short	Ondo Perps WTI-USD.P	92.650	−0.0053	pay 0.0007% / 1h	4m 16s	$3.5M	$5.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$27.47
Price spread: −0.046% → −0.078%: $3.2
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$41.27
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 4 min ago	1.51 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
GRVT CL_USDT_Perp	−0.0352%	4h	92.655	−0.041%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0337%	4h	92.690	−0.003%	$24.0M	$75.1M	20x	as long as short
Binance CLUSDT	−0.0283%	4h	92.690	−0.003%	$244.6M	$1.02B	100x	as long as short
Variational Omni CL	−0.0273%	4h	92.658	−0.038%	$13.3M	$11.5M	—	as long as short
Gate CL_USDT	−0.0190%	8h	92.620	−0.079%	$21.3M	$55.6M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0181%	1h	92.690	−0.003%	$123K	$274K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.700	+0.008%	$275K	$912K	25x	as long as short
Ondo Perps WTI-USD.Pshort	−0.0053%	1h	92.650	−0.046%	$3.5M	$5.9M	20x
Nado WTI-PERP	−0.0050%	1h	92.729	+0.039%	$935K	$701K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.715%	$399K	$956K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.660	−0.036%	$2.4M	$1.7M	10x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	92.689	−0.004%	$185.9M	$233.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.742	+0.053%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.688	−0.005%	$26.5M	$88.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.680	−0.014%	$42.9M	$108.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.802	+0.118%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.682	−0.012%	$42.2M	$47.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.680	−0.014%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.692	−0.001%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.240	−0.489%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.720	+0.029%	$2.3M	$25.7M	10x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	92.666	−0.029%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	92.693	0.000%	$11.2M	$10.3M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.348%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.710	+0.018%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.688	−0.005%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.684	−0.010%	$2.0M	$38K	20x	as long as short
edgeX CLUSDC	+0.0067%	4h	92.621	−0.078%	$533K	$299K	30x	as long as short
KuCoin CLUSDTMlong	+0.0078%	4h	92.693	long leg	$7.2M	$2.3M	50x
Pacifica CL	+0.0100%	1h	92.677	−0.017%	$354K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.670	−0.025%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.649	−0.047%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0129%	1h	92.685	−0.009%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.685	−0.009%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.706%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.640	−0.057%	$4.0M	$1.2M	50x	as long as short