Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0523%/8h= +57.3% APRpaid last 24h +0.055%

Price spread now: KuCoin against Deribit+0.054%7-day average −0.001% · 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−$23as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.101%+$10 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now +0.054%, 7d avg −0.001%

Together, before fees+0.167%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and KuCoin is 0.055% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.001%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.101% in total (about 9.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WTIOIL_USDC-PERPETUAL	93.330	−0.0499	get 0.0062% / 1h	3m 07s	$198K	$371K	15x
Short	KuCoin CLUSDTM	93.380	0.0024	get 0.0012% / 4h	3h 03m	$7.1M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.054%Rate

Funding earned: $109.93
Price spread: +0.054% → −0.001%: $5.45
Slippage, 4 orders: −$9.1
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $87.28
Costs to cover: 0.281%
Break-even: 1.4 days

Slippage from Deribit: live order book, 51 min ago; KuCoin: 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 Deribit live order book, 51 min ago	0.54 bp	4.0 bp −$4	7.1 bp −$71	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	1.82 bp	9.5 bp −$9	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-PERPETUALlong	−0.0499%	1h	93.330	long leg	$198K	$371K	15x
GRVT CL_USDT_Perp	−0.0332%	4h	93.330	+0.001%	$58K	$654K	25x	as long as short
Aster CLUSD1	−0.0286%	4h	93.372	+0.046%	$24.3M	$65.8M	20x	as long as short
Binance CLUSDT	−0.0190%	4h	93.360	+0.032%	$246.5M	$939.3M	100x	as long as short
Variational Omni CL	−0.0175%	4h	93.319	−0.012%	$13.3M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0147%	1h	93.359	+0.031%	$2K	$26K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0129%	1h	93.280	−0.054%	$3.5M	$5.4M	20x	as long as short
Bitget CLUSDT	−0.0128%	4h	93.342	+0.013%	$42.0M	$43.2M	100x	as long as short
Nado WTI-PERP	−0.0106%	1h	93.392	+0.067%	$966K	$625K	10x	as long as short
Gate CL_USDT	−0.0071%	8h	93.290	−0.043%	$21.4M	$51.6M	100x	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	−0.0065%	4h	93.370	+0.043%	$42.7M	$103.2M	50x	as long as short
tradeXYZ xyz:CL	−0.0062%	1h	93.337	+0.008%	$184.7M	$217.1M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.380	+0.054%	$282K	$961K	25x	as long as short
edgeX CLUSDC	−0.0053%	4h	93.336	+0.006%	$525K	$306K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.182%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.340	+0.011%	$2.3M	$2.0M	10x	as long as short
Paradex CL-USD-PERP	−0.0018%	8h	93.336	+0.006%	$16K	$367	5x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.370	+0.043%	$37K	$41K	20x	as long as short
Lighter WTI	0.0000%	1h	93.352	+0.024%	$11.2M	$10.4M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	−0.001%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.370	+0.043%	$26.9M	$79.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.408	+0.084%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.357	+0.029%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.912	−0.448%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	93.390	+0.064%	$2.0M	$18.2M	10x	as long as short
KuCoin CLUSDTMshort	+0.0024%	4h	93.380	+0.054%	$7.1M	$2.4M	50x
StandX CL-USD	+0.0040%	1h	93.270	−0.064%	$738K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.370	+0.043%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.356	+0.028%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.357	+0.029%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.349	+0.020%	$331K	$579K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.320	−0.011%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.321	−0.009%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.350	+0.021%	$4.0M	$990K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.37	+9.687%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0225% / S −0.0153%	1h	93.355	+0.027%	$81K	—	111x	as long as short