Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.025%

Price spread now: Bullet against KuCoin−0.004%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on KuCoin Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.052%−$5 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.004%, 7d avg −0.004%

Together, before fees−0.032%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	93.483	0.0092	pay 0.0046% / 4h	2h 10m	$7.1M	$2.4M	50x
Short	Bullet WTIOIL-USD	93.479	0	get 0.0000% / 1h	10m 01s	$19K	$240K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against KuCoin. 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 KuCoinbpFee BulletbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$19.32
Price spread: −0.004% → −0.004%: −$0.07
Slippage, 4 orders: −$14.62
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$54.01
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bullet: live order book, 39 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 KuCoin live order book, 3 min ago	1.28 bp	9.8 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Bullet live order book, 39 min ago	1.55 bp	7.4 bp −$7	18.4 bp −$184	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	−0.0392%	1h	93.420	−0.067%	$196K	$377K	15x	as long as short
GRVT CL_USDT_Perp	−0.0288%	4h	93.460	−0.025%	$58K	$629K	25x	as long as short
Aster CLUSD1	−0.0281%	4h	93.417	−0.071%	$24.4M	$64.7M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.484	+0.001%	$286K	$959K	25x	as long as short
Binance CLUSDT	−0.0175%	4h	93.390	−0.099%	$245.8M	$932.7M	100x	as long as short
Variational Omni CL	−0.0165%	4h	93.509	+0.027%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0155%	1h	93.510	+0.029%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.399	−0.090%	$42.1M	$42.7M	100x	as long as short
Nado WTI-PERP	−0.0118%	1h	93.567	+0.090%	$975K	$630K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0078%	1h	93.460	−0.025%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0076%	8h	93.360	−0.132%	$22.0M	$50.2M	100x	as long as short
tradeXYZ xyz:CL	−0.0074%	1h	93.386	−0.104%	$184.8M	$213.7M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.500	+0.018%	$404K	$931K	15x	as long as short
OKX CL-USDT-SWAP	−0.0038%	4h	93.390	−0.099%	$42.7M	$102.5M	50x	as long as short
QFEX CL-USD	−0.0032%	1h	93.490	+0.007%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0018%	4h	93.488	+0.005%	$525K	$305K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	93.495	+0.013%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.412	−0.076%	$27.0M	$79.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.572	+0.095%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.520	+0.040%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USDshort	0.0000%	1h	93.479	−0.004%	$19K	$240K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.004	−0.512%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	93.521	+0.040%	$16K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	93.433	−0.053%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.480	−0.003%	$2.0M	$16.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.480	−0.003%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.510	+0.029%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.538	+0.059%	$332K	$577K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.500	+0.018%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.440	−0.046%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTMlong	+0.0092%	4h	93.483	long leg	$7.1M	$2.4M	50x
ApeX Omni CLUSDT	+0.0100%	1h	93.520	+0.040%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.429	−0.058%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0198%	4h	93.490	+0.007%	$4.0M	$990K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.64	+9.801%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0240% / S −0.0173%	1h	93.475	−0.009%	$84K	—	111x	as long as short