Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.037%

Price spread now: QFEX against KuCoin−0.009%7-day average −0.035% · 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−$30as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.105%−$10 on $10k

Price spread, last 7 days−0.075%−$8 · spread now −0.009%, 7d avg −0.035%

Together, before fees−0.180%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.026% dearer against KuCoin than usual: you sell high and buy low (spread −0.009% now, against its 7-day average of −0.035%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6.9 days. At the pace of the last 4 days (−0.105% in total) that is about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	92.908	−0.0030	get 0.0015% / 4h	9m 19s	$7.1M	$2.4M	50x
Short	QFEX CL-USD	92.900	−0.0043	pay 0.0005% / 1h	9m 19s	$2.3M	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$2.67
Price spread: −0.009% → −0.035%: $2.62
Slippage, 4 orders: −$10.93
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$32.98
Costs to cover: 0.329%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; QFEX: live order book, 3 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, 9 min ago	1.99 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	1.62 bp	8.2 bp −$8	8.7 bp −$87	10.5 bp −$1,047	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	−0.0503%	1h	92.870	−0.041%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0272%	4h	92.909	+0.001%	$24.0M	$66.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	92.887	−0.022%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	92.905	−0.003%	$273K	$874K	25x	as long as short
Binance CLUSDT	−0.0188%	4h	92.893	−0.016%	$244.5M	$944.6M	100x	as long as short
Variational Omni CL	−0.0179%	4h	92.888	−0.022%	$13.5M	$10.8M	—	as long as short
Bitget CLUSDT	−0.0126%	4h	92.888	−0.022%	$42.0M	$43.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0113%	1h	92.887	−0.023%	$187.8M	$216.1M	20x	as long as short
Aftermath Perps WTIUSD	−0.0104%	1h	92.949	+0.044%	$2K	$26K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0090%	1h	92.850	−0.062%	$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
OKX CL-USDT-SWAP	−0.0057%	4h	92.890	−0.019%	$42.5M	$102.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.170%	$402K	$944K	15x	as long as short
Gate CL_USDT	−0.0047%	8h	92.840	−0.073%	$20.8M	$52.2M	100x	as long as short
QFEX CL-USDshort	−0.0043%	1h	92.900	−0.009%	$2.3M	$1.8M	10x
Nado WTI-PERP	−0.0031%	1h	92.969	+0.066%	$963K	$648K	10x	as long as short
KuCoin CLUSDTMlong	−0.0030%	4h	92.908	long leg	$7.1M	$2.4M	50x
edgeX CLUSDC	−0.0003%	4h	92.895	−0.014%	$526K	$303K	30x	as long as short
Lighter WTI	0.0000%	1h	92.912	+0.004%	$11.2M	$10.6M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.937	+0.031%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.887	−0.023%	$26.7M	$80.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.969	+0.066%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.940	+0.034%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.902	−0.006%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.464	−0.478%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	92.888	−0.021%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.940	+0.034%	$2.0M	$20.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.900	−0.009%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	+0.013%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.900	−0.009%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.897	−0.012%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	92.902	−0.006%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.950	+0.045%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.866	−0.045%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0186%	4h	92.930	+0.024%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0216% / S −0.0144%	1h	92.895	−0.014%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+10.056%	$19K	$11K	30x	as long as short