Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h −0.005%

Price spread now: Gate against Kraken Futures−0.063%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.063%, 7d avg −0.075%

Together, before fees+0.221%+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.075%, 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	Kraken Futures PF_WTIOILUSD	93.119	−0.0196	get 0.0024% / 1h	36m 56s	$274K	$872K	25x
Short	Gate CL_USDT	93.060	−0.0055	pay 0.0055% / 8h	4h 36m	$20.9M	$51.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.063%Rate

Funding earned: $29.51
Price spread: −0.063% → −0.075%: $1.13
Slippage, 4 orders: −$13.83
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$8.18
Costs to cover: 0.388%
Break-even: 8.9 days

Slippage from Kraken Futures: live order book, 26 min ago; Gate: live order book, 2 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, 26 min ago	3.33 bp	10.6 bp −$11	22.3 bp −$223	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.54 bp	9.5 bp −$10	15.1 bp −$151	29.9 bp −$2,988	35.6 bp −$17.8K

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	−0.0609%	1h	93.070	−0.053%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0250%	4h	93.100	−0.020%	$24.0M	$67.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0242%	4h	93.158	+0.041%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSDlong	−0.0196%	1h	93.119	long leg	$274K	$872K	25x
Binance CLUSDT	−0.0194%	4h	93.100	−0.020%	$244.7M	$951.7M	100x	as long as short
Variational Omni CL	−0.0183%	4h	93.158	+0.042%	$13.5M	$11.0M	—	as long as short
Ondo Perps WTI-USD.P	−0.0122%	1h	93.070	−0.053%	$3.5M	$5.6M	20x	as long as short
tradeXYZ xyz:CL	−0.0110%	1h	93.093	−0.028%	$184.9M	$215.6M	20x	as long as short
Aftermath Perps WTIUSD	−0.0094%	1h	93.127	+0.009%	$2K	$27K	5x	as long as short
Bitget CLUSDT	−0.0090%	4h	93.084	−0.038%	$41.9M	$43.9M	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	−0.0069%	4h	93.100	−0.020%	$42.6M	$102.8M	50x	as long as short
Gate CL_USDTshort	−0.0055%	8h	93.060	−0.063%	$20.9M	$51.6M	100x
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.396%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0043%	1h	93.070	−0.053%	$2.5M	$1.7M	10x	as long as short
edgeX CLUSDC	−0.0037%	4h	93.129	+0.011%	$530K	$300K	30x	as long as short
Nado WTI-PERP	−0.0033%	1h	93.132	+0.014%	$963K	$653K	10x	as long as short
Lighter WTI	−0.0016%	1h	93.099	−0.022%	$11.2M	$10.5M	20x	as long as short
KuCoin CLUSDTM	−0.0012%	4h	93.157	+0.041%	$7.1M	$2.4M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	93.113	−0.006%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	93.140	+0.022%	$2.0M	$21.1M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	93.105	−0.015%	$26.7M	$80.8M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.155	+0.038%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.130	+0.012%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.109	−0.010%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.672	−0.480%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0013%	8h	93.061	−0.063%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.140	+0.022%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.110	−0.010%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.103	−0.017%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.095	−0.026%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	93.067	−0.056%	$329K	$621K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.100	−0.020%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.067	−0.056%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0171%	4h	93.100	−0.020%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0213% / S −0.0140%	1h	93.095	−0.026%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.19	+9.737%	$19K	$11K	30x	as long as short