Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0020%/8hpaid last 24h −0.002%

Price spread now: Variational Omni against Kraken Futures−0.182%7-day average −0.015% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.031%−$3 on $10k

Price spread, last 3 days (all we have)+0.194%+$19 · spread now −0.182%, 7d avg −0.015%

Together, before fees+0.163%+ Points / potential airdropVariational Omni: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.168% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WTIOILUSD	92.113	−0.0059	get 0.0007% / 1h	23m 05s	$267K	$1.3M	25x
Short	Variational Omni CL	91.945	−0.0079	pay 0.0039% / 4h	23m 05s	$13.4M	$16.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.182%Rate

Funding earned: −$4.26
Price spread: −0.182% → −0.015%: −$16.79
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$31.04
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 min ago; Variational Omni: RFQ quote, just now. Net counts fees only.

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, 5 min ago	2.88 bp	11.3 bp −$11	20.1 bp −$201	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	2.27 bp	doesn't fit	2.3 bp −$23	6.7 bp −$668	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
Ondo Perps WTI-USD.P	−0.0106%	1h	91.980	−0.144%	$3.5M	$6.3M	20x	as long as short
Binance CLUSDT	−0.0097%	4h	92.030	−0.090%	$245.4M	$1.05B	100x	as long as short
Aster CLUSD1	−0.0095%	4h	92.061	−0.056%	$24.8M	$70.7M	20x	as long as short
Variational Omni CLshort	−0.0079%	4h	91.945	−0.182%	$13.4M	$16.7M	—
Nado WTI-PERP	−0.0079%	1h	92.072	−0.044%	$843K	$752K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0076%	1h	92.090	−0.024%	$96K	$470K	15x	as long as short
Aftermath Perps WTIUSD	−0.0075%	1h	92.050	−0.068%	$2K	$33K	5x	as long as short
Kraken Futures PF_WTIOILUSDlong	−0.0059%	1h	92.113	long leg	$267K	$1.3M	25x
Lighter WTI	−0.0040%	1h	92.036	−0.083%	$11.1M	$12.5M	20x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0038% / S +0.0036%	1h	91.802	−0.337%	$178K	—	150x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CL_USDT_Perp	−0.0022%	4h	91.960	−0.166%	$58K	$812K	25x	as long as short
QFEX CL-USD	−0.0022%	1h	92.020	−0.100%	$2.4M	$2.8M	10x	as long as short
tradeXYZ xyz:CL	−0.0018%	1h	92.015	−0.106%	$183.4M	$287.0M	20x	as long as short
Bullet WTIOIL-USD	−0.0017%	1h	92.054	−0.064%	$19K	$246K	10x	as long as short
Gate CL_USDT	−0.0007%	8h	91.990	−0.133%	$21.1M	$61.6M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.035	−0.085%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.020	−0.100%	$24.7M	$95.5M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.000	−0.122%	$43.2M	$112.4M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.136	+0.025%	$3.1M	$2.6M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.026	−0.094%	$42.5M	$63.7M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.120	+0.008%	$395K	$1.1M	15x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	91.992	−0.131%	$15K	$367	5x	as long as short
Phoenix WTIOIL	+0.0026%	1h	92.020	−0.100%	$33K	$99K	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.120	+0.008%	$1.9M	$29.3M	10x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	92.595	+0.524%	$18K	$14K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.040	−0.079%	$726K	$2.6M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.130	+0.019%	—	$243K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.074	−0.042%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	91.995	−0.128%	$2.0M	$45K	20x	as long as short
edgeX CLUSDC	+0.0093%	4h	91.977	−0.147%	$529K	$351K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.030	−0.090%	$315K	$542K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.074	−0.042%	$7.5M	$1.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.000	−0.122%	$55K	$272K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.039	−0.080%	$4K	$49	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0127% / S +0.0033%	1h	92.055	−0.062%	$79K	—	111x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.030	−0.090%	$4.1M	$1.5M	50x	as long as short