Funding arb · Price arb /

CL

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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: KuCoin against QFEX+0.050%7-day average +0.032% · you sell dearer than you buy

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−$350.346% of the position

Long on QFEX Short on KuCoin

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−0.006%−$1 · spread now +0.050%, 7d avg +0.032%

Together, before fees+0.099%+$10 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	QFEX CL-USD	93.410	−0.0038	get 0.0005% / 1h	51m 51s	$2.3M	$2.4M	10x
Short	KuCoin CLUSDTM	93.457	0.0100	get 0.0050% / 4h	51m 51s	$7.1M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against QFEX. 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 QFEXbpFee KuCoinbpOrdersPrice spread, now +0.050%Rate

Funding earned: $28.88
Price spread: +0.050% → +0.032%: $1.8
Slippage, 4 orders: −$12.6
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$3.92
Costs to cover: 0.346%
Break-even: 8.0 days

Slippage from QFEX: live order book, 6 min ago; KuCoin: live order book, 6 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 QFEX live order book, 6 min ago	2.67 bp	8.5 bp −$8	8.7 bp −$87	10.6 bp −$1,064	doesn't fit
Sell KuCoin live order book, 6 min ago	1.44 bp	10.2 bp −$10	doesn't fit	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-PERPETUAL	−0.0499%	1h	93.380	−0.032%	$195K	$390K	15x	as long as short
GRVT CL_USDT_Perp	−0.0292%	4h	93.580	+0.182%	$73K	$628K	25x	as long as short
Aster CLUSD1	−0.0288%	4h	93.451	+0.044%	$24.6M	$64.6M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.414	+0.004%	$276K	$966K	25x	as long as short
Binance CLUSDT	−0.0164%	4h	93.440	+0.032%	$247.4M	$920.9M	100x	as long as short
Variational Omni CL	−0.0152%	4h	93.658	+0.265%	$13.5M	$10.6M	—	as long as short
Gate CL_USDT	−0.0126%	8h	93.370	−0.043%	$22.9M	$48.5M	100x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.431	+0.022%	$42.3M	$42.1M	100x	as long as short
Aftermath Perps WTIUSD	−0.0118%	1h	93.544	+0.143%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0074%	1h	93.472	+0.067%	$959K	$629K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0058%	4h	93.420	+0.011%	$42.6M	$103.1M	50x	as long as short
QFEX CL-USDlong	−0.0038%	1h	93.410	long leg	$2.3M	$2.4M	10x
Lighter WTI	−0.0024%	1h	93.400	−0.011%	$11.3M	$9.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.139%	$405K	$860K	15x	as long as short
edgeX CLUSDC	−0.0016%	4h	93.690	+0.300%	$527K	$304K	30x	as long as short
Ondo Perps WTI-USD.P	−0.0005%	1h	93.370	−0.043%	$3.7M	$5.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.484	+0.080%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.432	+0.024%	$26.8M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.460	+0.053%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.600	+0.203%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.428	+0.019%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.946	−0.497%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0004%	8h	93.391	−0.020%	$16K	$367	5x	as long as short
tradeXYZ xyz:CL	+0.0013%	1h	93.432	+0.024%	$184.7M	$202.2M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.470	+0.064%	$1.9M	$15.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.550	+0.150%	$741K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.440	+0.032%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.415	+0.005%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.410	0.000%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.423	+0.014%	$349K	$594K	10x	as long as short
KuCoin CLUSDTMshort	+0.0100%	4h	93.457	+0.050%	$7.1M	$2.4M	50x
ApeX Omni CLUSDT	+0.0100%	1h	93.740	+0.353%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.378	−0.034%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0182%	4h	93.490	+0.086%	$4.1M	$985K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.83	+10.087%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0252% / S −0.0187%	1h	93.395	−0.016%	$84K	—	111x	as long as short