Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h 0.000%

Price spread now: KuCoin against ApeX Omni+0.031%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now +0.031%, 7d avg +0.005%

Together, before fees−0.107%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.026% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of +0.005%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.3 days. At the pace of the last 7 days (−0.094% in total) that is about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni CLUSDT	92.940	0.0100	pay 0.0013% / 1h	50m 47s	$56K	$266K	50x
Short	KuCoin CLUSDTM	92.969	0.0080	get 0.0040% / 4h	1h 50m	$7.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against ApeX Omni. 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 ApeX OmnibpFee KuCoinbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$4.2
Price spread: +0.031% → +0.005%: $2.6
Slippage, 4 orders: −$38.03
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$61.63
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 11 min ago; KuCoin: live order book, 2 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 ApeX Omni live order book, 11 min ago	8.62 bp	21.0 bp −$21	195.1 bp −$1,951	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	1.67 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit

CL on 35 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	−0.0610%	1h	92.920	−0.022%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0240%	4h	92.954	+0.015%	$24.0M	$70.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0208%	4h	92.849	−0.098%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0205%	4h	92.940	0.000%	$244.7M	$959.3M	100x	as long as short
Variational Omni CL	−0.0200%	4h	92.927	−0.014%	$13.5M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0119%	1h	93.022	+0.088%	$963K	$668K	10x	as long as short
Gate CL_USDT	−0.0091%	8h	92.890	−0.054%	$20.9M	$52.2M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0088%	1h	92.910	−0.032%	$3.5M	$5.7M	20x	as long as short
tradeXYZ xyz:CL	−0.0041%	1h	92.945	+0.005%	$184.9M	$218.5M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.204%	$402K	$944K	15x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0032%	1h	92.940	0.000%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0017%	1h	92.910	−0.033%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAP	−0.0008%	4h	92.940	0.000%	$42.9M	$102.6M	50x	as long as short
edgeX CLUSDC	−0.0008%	4h	92.823	−0.126%	$529K	$302K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.998	+0.063%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.970	+0.032%	$27.0M	$81.1M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.936	−0.004%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.880	−0.065%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.966	+0.028%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.515	−0.457%	$5K	—	150x	as long as short
Lighter WTI	+0.0024%	1h	92.956	+0.017%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.990	+0.054%	$2.1M	$23.4M	10x	as long as short
Paradex CL-USD-PERP	+0.0036%	8h	92.946	+0.006%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.340	−0.646%	$726K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.970	+0.032%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.968	+0.030%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.945	+0.005%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.082	+0.153%	$3.3M	$2.7M	20x	as long as short
KuCoin CLUSDTMshort	+0.0080%	4h	92.969	+0.031%	$7.3M	$2.3M	50x
Pacifica CL	+0.0100%	1h	92.973	+0.036%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDTlong	+0.0100%	1h	92.940	long leg	$56K	$266K	50x
Aevo WTIOIL-PERP	+0.0104%	1h	92.929	−0.012%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.972	+0.034%	$274K	$882K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.945	+0.005%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.15	+9.906%	$19K	$11K	30x	as long as short