CL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0344%/8h= −37.6% APRnext payment −$0.43 per $10,000 · paid last 24h −0.017%

Price spread now: Kraken Futures against QFEX−0.287%7-day average +0.018% · 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−$64as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on QFEX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+0.132%+$13 · spread now −0.287%, 7d avg +0.018%

Together, before fees+0.163%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Kraken Futures is 0.305% cheaper against QFEX than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.031% in total (about 3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.43 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX CL-USD	90.310	−0.0023	get 0.0003% / 1h	7m 06s	$2.2M	$2.8M	10x
Short	Kraken Futures PF_WTIOILUSD	90.051	−0.0367	pay 0.0046% / 1h	7m 06s	$299K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against QFEX. 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 QFEXbpFee Kraken FuturesbpOrdersPrice spread, now −0.287%Rate

Funding earned: −$72.16
Price spread: −0.287% → +0.018%: −$30.49
Slippage, 4 orders: −$13.69
Fee QFEX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$136.34
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Kraken Futures: live order book, 4 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 QFEX live order book, 4 min ago	1.66 bp	6.7 bp −$7	6.7 bp −$67	7.6 bp −$757	doesn't fit
Sell Kraken Futures live order book, 4 min ago	3.65 bp	9.6 bp −$10	22.7 bp −$227	doesn't fit	doesn't fit

CL on 36 exchanges

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	−0.0750%	1h	89.900	−0.454%	$180K	$422K	15x	as long as short
Kraken Futures PF_WTIOILUSDshort	−0.0367%	1h	90.051	−0.287%	$299K	$1.3M	25x
Aster CLUSD1	−0.0157%	4h	89.997	−0.347%	$24.5M	$67.8M	20x	as long as short
Bitget CLUSDT	−0.0108%	4h	89.894	−0.461%	$41.0M	$50.7M	100x	as long as short
Binance CLUSDT	−0.0104%	4h	89.943	−0.406%	$245.1M	$1.13B	100x	as long as short
edgeX CLUSDC	−0.0092%	4h	90.334	+0.027%	$505K	$378K	30x	as long as short
Ondo Perps WTI-USD.P	−0.0087%	1h	90.280	−0.033%	$3.4M	$5.8M	20x	as long as short
Variational Omni CL	−0.0082%	4h	90.495	+0.204%	$12.9M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0077%	1h	90.301	−0.010%	$874K	$671K	10x	as long as short
Extended WTI-USD	−0.0072%	1h	89.950	−0.399%	$1.2M	$13.5M	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0068%	8h	89.960	−0.388%	$23.2M	$54.8M	100x	as long as short
tradeXYZ xyz:CL	−0.0058%	1h	89.980	−0.365%	$173.0M	$214.4M	20x	as long as short
GRVT CL_USDT_Perp	−0.0054%	4h	90.509	+0.220%	$70K	$616K	25x	as long as short
Aftermath Perps WTIUSD	−0.0030%	1h	90.530	+0.244%	$1K	$27K	5x	as long as short
OKX CL-USDT-SWAP	−0.0027%	4h	89.840	−0.520%	$40.4M	$120.4M	50x	as long as short
QFEX CL-USDlong	−0.0023%	1h	90.310	long leg	$2.2M	$2.8M	10x
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.964	−0.383%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.336	+0.029%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.954	−0.394%	$26.9M	$99.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.345	+0.039%	$2.9M	$3.0M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.077	−0.258%	$17K	$238K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.000	−0.343%	$423K	$1.3M	15x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	90.249	−0.068%	$15K	$367	5x	as long as short
Lighter WTI	+0.0024%	1h	89.900	−0.454%	$10.7M	$10.0M	20x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	100.27	+11.026%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.300	−0.011%	$702K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.250	−0.066%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.368	+0.064%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.913	−0.440%	$2.0M	$80K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	90.450	+0.155%	$36K	$37K	20x	as long as short
Pacifica CL	+0.0100%	1h	90.270	−0.044%	$305K	$717K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	89.980	−0.365%	$6.8M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.530	+0.244%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.051	−0.287%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0221%	4h	89.900	−0.454%	$3.9M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0250% / S −0.0172%	1h	90.335	+0.028%	$80K	—	111x	as long as short