Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0140%/8h= +15.4% APRpaid last 24h +0.028%

Price spread now: edgeX against Kraken Futures−0.102%76s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.483% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.163%+$16 on $10k

Price spread, last 3 days (all we have)+0.146%+$15 · spread now −0.102%, 7d avg −0.012%

Together, before fees+0.310%+ Points / potential airdropedgeX: Active · farm board+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.090% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of −0.012%). If the spread goes back, that is −$9 on $10k: about 2.1 days of funding at the current rate (+$4 a day). The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WTIOILUSD	92.291	−0.0120	get 0.0015% / 1h	46m 09s	$273K	$1.1M	25x
Short	edgeX CLUSDC	92.197	0.0020	get 0.0010% / 4h	3h 46m	$530K	$307K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Kraken Futures. 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 Kraken FuturesbpFee edgeXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $29.45
Price spread: −0.102% → −0.012%: −$9.02
Slippage, 4 orders: −$29.3
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$27.87
Costs to cover: 0.483%
Break-even: 13.6 days

Slippage from Kraken Futures: live order book, 2 min ago; edgeX: live order book, 27 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 Kraken Futures live order book, 2 min ago	2.87 bp	10.9 bp −$11	16.4 bp −$164	doesn't fit	doesn't fit
Sell edgeX live order book, 27 min ago	9.98 bp	14.5 bp −$14	14.9 bp −$149	21.4 bp −$2,139	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
GRVT CL_USDT_Perp	−0.0532%	4h	92.209	−0.089%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0325%	4h	92.280	−0.012%	$23.9M	$80.3M	20x	as long as short
Gate CL_USDT	−0.0266%	8h	92.180	−0.120%	$21.3M	$54.5M	100x	as long as short
Binance CLUSDT	−0.0256%	4h	92.260	−0.034%	$244.9M	$1.08B	100x	as long as short
Variational Omni CL	−0.0246%	4h	92.241	−0.054%	$13.2M	$12.2M	—	as long as short
Kraken Futures PF_WTIOILUSDlong	−0.0120%	1h	92.291	long leg	$273K	$1.1M	25x
Nado WTI-PERP	−0.0106%	1h	92.296	+0.006%	$925K	$733K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0090%	1h	92.200	−0.099%	$3.5M	$6.2M	20x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0075%	1h	92.260	−0.034%	$96K	$189K	15x	as long as short
Bybit CLUSDT	−0.0054%	8h	92.262	−0.031%	$26.1M	$93.6M	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0045%	1h	92.267	−0.026%	$186.3M	$261.7M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.283%	$399K	$960K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.240	−0.055%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0031%	8h	92.239	−0.056%	$15K	$367	5x	as long as short
Lighter WTI	−0.0024%	1h	92.256	−0.038%	$11.2M	$10.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.235	−0.060%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.250	−0.044%	$42.9M	$111.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.360	+0.074%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.251	−0.043%	$42.0M	$51.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.210	−0.088%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.258	−0.036%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.814	−0.517%	$5K	—	150x	as long as short
edgeX CLUSDCshort	+0.0020%	4h	92.197	−0.102%	$530K	$307K	30x
Extended WTI-USD	+0.0032%	1h	92.290	−0.001%	$2.1M	$27.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.160	−0.142%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.280	−0.012%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.264	−0.029%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.249	−0.045%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.262	−0.031%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.275	−0.017%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.180	−0.120%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.221	−0.075%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.255	−0.039%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+9.850%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.240	−0.055%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0397%	1h	92.223	−0.073%	$2K	$29K	5x	as long as short