Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0138%/8h= −15.1% APRpaid last 24h −0.031%

Price spread now: QFEX against KuCoin−0.023%7-day average −0.032% · 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−$33as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.105%−$11 on $10k

Price spread, last 7 days−0.022%−$2 · spread now −0.023%, 7d avg −0.032%

Together, before fees−0.127%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	93.211	0.0100	pay 0.0050% / 4h	37m 21s	$7.1M	$2.4M	50x
Short	QFEX CL-USD	93.190	−0.0038	pay 0.0005% / 1h	37m 21s	$2.3M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$28.88
Price spread: −0.023% → −0.032%: $0.98
Slippage, 4 orders: −$11.89
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$61.79
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; QFEX: live order book, 5 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	1.72 bp	9.8 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.61 bp	7.4 bp −$7	7.7 bp −$77	9.2 bp −$915	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	−0.0394%	1h	93.170	−0.044%	$195K	$393K	15x	as long as short
Aster CLUSD1	−0.0287%	4h	93.230	+0.020%	$24.7M	$64.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.210	−0.001%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.196	−0.016%	$275K	$938K	25x	as long as short
Binance CLUSDT	−0.0163%	4h	93.220	+0.010%	$246.9M	$920.5M	100x	as long as short
Variational Omni CL	−0.0151%	4h	93.187	−0.026%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0128%	8h	93.120	−0.098%	$22.9M	$49.0M	100x	as long as short
Bitget CLUSDT	−0.0126%	4h	93.185	−0.028%	$42.2M	$41.6M	100x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.240	+0.031%	$2K	$26K	5x	as long as short
edgeX CLUSDC	−0.0095%	4h	93.207	−0.004%	$524K	$305K	30x	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	−0.0091%	1h	93.239	+0.030%	$955K	$624K	10x	as long as short
OKX CL-USDT-SWAP	−0.0067%	4h	93.170	−0.044%	$42.7M	$102.7M	50x	as long as short
QFEX CL-USDshort	−0.0038%	1h	93.190	−0.023%	$2.3M	$2.4M	10x
tradeXYZ xyz:CL	−0.0031%	1h	93.187	−0.026%	$184.0M	$199.4M	20x	as long as short
Lighter WTI	−0.0024%	1h	93.186	−0.027%	$11.2M	$9.1M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0020%	1h	93.140	−0.076%	$3.6M	$5.3M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.353%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0003%	8h	93.154	−0.061%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.162	−0.053%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.200	−0.012%	$26.7M	$79.1M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.219	+0.008%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.290	+0.085%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.186	−0.027%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.747	−0.498%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	93.210	−0.001%	$1.6M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.250	+0.042%	$739K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.190	−0.023%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.164	−0.050%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.193	−0.019%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.198	−0.014%	$348K	$593K	10x	as long as short
KuCoin CLUSDTMlong	+0.0100%	4h	93.211	long leg	$7.1M	$2.4M	50x
ApeX Omni CLUSDT	+0.0100%	1h	93.200	−0.012%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.168	−0.046%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0173%	4h	93.180	−0.033%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.45	+9.912%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0254% / S −0.0190%	1h	93.195	−0.017%	$83K	—	111x	as long as short