Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0005%/8h= +0.6% APRpaid last 24h −0.023%

Price spread now: Phoenix against KuCoin−0.179%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.179% cheaper against KuCoin than usual: you would sell low and buy high, −$18 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	93.217	−0.0014	get 0.0007% / 4h	3h 49m	$7.1M	$2.4M	50x
Short	Phoenix WTIOIL	93.050	−0.0009	pay 0.0001% / 1h	49m 02s	$37K	$41K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.179%Rate

Funding earned: $1.13
Price spread: −0.179% → 0.000%: −$17.92
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$35.78
Costs to cover: 0.190%
Break-even: 228.0 days

Slippage unknown: KuCoin: live order book, 4 min ago; Phoenix: 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	1.50 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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
Deribit WTIOIL_USDC-PERPETUAL	−0.0286%	1h	93.180	−0.040%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.221	+0.004%	$24.1M	$66.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	93.007	−0.225%	$54K	$658K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.210	−0.008%	$245.5M	$943.2M	100x	as long as short
Variational Omni CL	−0.0167%	4h	93.119	−0.105%	$13.5M	$10.7M	—	as long as short
Bitget CLUSDT	−0.0124%	4h	93.224	+0.008%	$42.0M	$43.3M	100x	as long as short
Nado WTI-PERP	−0.0123%	1h	93.226	+0.010%	$966K	$645K	10x	as long as short
Aftermath Perps WTIUSD	−0.0111%	1h	93.090	−0.136%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0107%	1h	93.130	−0.093%	$3.5M	$5.3M	20x	as long as short
edgeX CLUSDC	−0.0077%	4h	93.022	−0.209%	$526K	$303K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.205	−0.013%	$269K	$938K	25x	as long as short
Gate CL_USDT	−0.0047%	8h	93.150	−0.072%	$21.0M	$50.7M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.029%	$401K	$928K	15x	as long as short
OKX CL-USDT-SWAP	−0.0038%	4h	93.250	+0.035%	$42.6M	$102.8M	50x	as long as short
QFEX CL-USD	−0.0033%	1h	93.160	−0.061%	$2.3M	$1.8M	10x	as long as short
KuCoin CLUSDTMlong	−0.0014%	4h	93.217	long leg	$7.1M	$2.4M	50x
Phoenix WTIOILshort	−0.0009%	1h	93.050	−0.179%	$37K	$41K	20x
dYdX WTI-USD	0.0000%	1h	93.160	−0.061%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.260	+0.046%	$26.9M	$80.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.249	+0.035%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.189	−0.030%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.755	−0.496%	$5K	—	150x	as long as short
tradeXYZ xyz:CL	+0.0004%	1h	93.206	−0.012%	$184.8M	$218.7M	20x	as long as short
Paradex CL-USD-PERP	+0.0012%	8h	93.154	−0.067%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.191	−0.028%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.230	+0.014%	$2.0M	$19.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	−0.083%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.180	−0.040%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.180	−0.040%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.203	−0.015%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.195	−0.024%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.120	−0.104%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.154	−0.067%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0200%	4h	93.190	−0.029%	$4.0M	$998K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0219% / S −0.0146%	1h	93.195	−0.024%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.600%	$19K	$11K	30x	as long as short