Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.024%

Price spread now: Kraken Futures against Paradex+0.051%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Kraken Futures is 0.051% dearer against Paradex than usual: you sell high and buy low (spread +0.051% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	92.749	0.0023	pay 0.0023% / 8h	6h 37m	$16K	$367	5x
Short	Kraken Futures PF_WTIOILUSD	92.797	−0.0038	pay 0.0005% / 1h	37m 15s	$275K	$870K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Paradex. 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 ParadexbpFee Kraken FuturesbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$12.83
Price spread: +0.051% → 0.000%: $5.12
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$21.71
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Kraken Futures: live order book, 36 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 36 min ago	2.86 bp	9.5 bp −$10	20.2 bp −$202	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0504%	1h	92.740	−0.010%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0331%	4h	92.780	+0.033%	$23.9M	$74.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0296%	4h	92.686	−0.068%	$50K	$633K	25x	as long as short
Binance CLUSDT	−0.0273%	4h	92.770	+0.022%	$244.3M	$992.5M	100x	as long as short
Variational Omni CL	−0.0266%	4h	92.741	−0.009%	$13.3M	$11.1M	—	as long as short
Gate CL_USDT	−0.0152%	8h	92.730	−0.021%	$20.9M	$53.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0069%	1h	92.765	+0.017%	$185.1M	$221.6M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0064%	1h	92.730	−0.021%	$3.5M	$5.7M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.776%	$399K	$939K	15x	as long as short
Kraken Futures PF_WTIOILUSDshort	−0.0038%	1h	92.797	+0.051%	$275K	$870K	25x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WTI-PERP	−0.0035%	1h	92.815	+0.071%	$936K	$678K	10x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	−0.021%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0011%	4h	92.760	+0.011%	$42.8M	$106.3M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.754	+0.005%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.790	+0.044%	$26.3M	$83.0M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.759	+0.010%	$41.9M	$45.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.044%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.766	+0.017%	$17K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.316	−0.467%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	92.800	+0.055%	$2.1M	$25.1M	10x	as long as short
edgeX CLUSDC	+0.0018%	4h	92.721	−0.030%	$533K	$297K	30x	as long as short
Paradex CL-USD-PERPlong	+0.0023%	8h	92.749	long leg	$16K	$367	5x
Lighter WTI	+0.0032%	1h	92.774	+0.026%	$11.2M	$10.2M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.877	+0.138%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.380	−0.398%	$726K	$3.0M	40x	as long as short
Aftermath Perps WTIUSD	+0.0041%	1h	92.757	+0.008%	$2K	$28K	5x	as long as short
Vest CL-PERP	+0.0046%	1h	92.780	+0.033%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.755	+0.006%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.765	+0.017%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0070%	4h	92.800	+0.055%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.778	+0.031%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.760	+0.011%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.733	−0.017%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.755	+0.006%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.794%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0228%	4h	92.730	−0.021%	$4.0M	$1.2M	50x	as long as short