Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0125%/8h= −13.7% APRpaid last 24h −0.043%

Price spread now: tradeXYZ against KuCoin−0.068%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on KuCoin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$15 on $10k

Price spread, last 7 days+0.005%+$1 · spread now −0.068%, 7d avg −0.031%

Together, before fees−0.150%+ Points / potential airdroptradeXYZ: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and tradeXYZ is 0.037% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	92.945	0.0078	pay 0.0039% / 4h	1h 49m	$7.3M	$2.3M	50x
Short	tradeXYZ xyz:CL	92.882	−0.0047	pay 0.0006% / 1h	49m 43s	$184.7M	$218.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$26.27
Price spread: −0.068% → −0.031%: −$3.7
Slippage, 4 orders: −$7.94
Fee KuCoin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$67.92
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; tradeXYZ: live order book, 10 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, 3 min ago	1.67 bp	9.9 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.05 bp	10.0 bp −$10	10.6 bp −$106	doesn't fit	doesn't fit

CL on 35 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	−0.0611%	1h	92.870	−0.081%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0237%	4h	92.925	−0.022%	$24.0M	$70.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0208%	4h	92.849	−0.103%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0205%	4h	92.880	−0.070%	$244.6M	$959.1M	100x	as long as short
Variational Omni CL	−0.0200%	4h	92.927	−0.019%	$13.5M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0120%	1h	92.995	+0.054%	$963K	$668K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0098%	1h	92.910	−0.038%	$3.5M	$5.7M	20x	as long as short
Gate CL_USDT	−0.0092%	8h	92.860	−0.091%	$20.9M	$52.2M	100x	as long as short
tradeXYZ xyz:CLshort	−0.0047%	1h	92.882	−0.068%	$184.7M	$218.5M	20x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.210%	$402K	$944K	15x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0032%	1h	92.920	−0.027%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0017%	1h	92.922	−0.025%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAP	−0.0008%	4h	92.910	−0.038%	$42.8M	$102.5M	50x	as long as short
edgeX CLUSDC	−0.0008%	4h	92.823	−0.132%	$529K	$302K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.998	+0.057%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.936	−0.010%	$26.9M	$81.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.907	−0.041%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.880	−0.070%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.925	−0.021%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.471	−0.510%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	92.892	−0.057%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.950	+0.005%	$2.1M	$23.4M	10x	as long as short
Paradex CL-USD-PERP	+0.0036%	8h	92.929	−0.018%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.470	−0.511%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.940	−0.005%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.944	−0.001%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.913	−0.034%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.071	+0.136%	$3.3M	$2.7M	20x	as long as short
KuCoin CLUSDTMlong	+0.0078%	4h	92.945	long leg	$7.3M	$2.3M	50x
Pacifica CL	+0.0100%	1h	92.947	+0.003%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.940	−0.005%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.890	−0.059%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.917	−0.030%	$273K	$882K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.905	−0.043%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.15	+9.900%	$19K	$11K	30x	as long as short