Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h −0.021%

Price spread now: Kraken Futures against Bitget+0.019%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

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

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.242%−$24 on $10k

Price spread, last 3 days (all we have)−0.023%−$2 · spread now +0.019%, 7d avg +0.009%

Together, before fees−0.265%−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	92.936	0	get 0.0000% / 4h	2h 18m	$42.0M	$44.1M	100x
Short	Kraken Futures PF_WTIOILUSD	92.954	−0.0038	pay 0.0005% / 1h	18m 12s	$274K	$884K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$8.03
Price spread: +0.019% → +0.009%: $1.06
Slippage, 4 orders: −$12.55
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$41.53
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Kraken Futures: live order book, 55 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 Bitget live order book, 1 min ago	0.48 bp	7.7 bp −$8	10.5 bp −$105	16.0 bp −$1,599	doesn't fit
Sell Kraken Futures live order book, 55 min ago	2.86 bp	9.5 bp −$10	20.2 bp −$202	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	−0.0503%	1h	92.870	−0.071%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0297%	4h	92.917	−0.021%	$24.0M	$72.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.727	−0.224%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0253%	4h	92.940	+0.004%	$244.7M	$977.2M	100x	as long as short
Variational Omni CL	−0.0250%	4h	92.718	−0.235%	$13.3M	$11.0M	—	as long as short
Gate CL_USDT	−0.0114%	8h	92.880	−0.060%	$20.9M	$53.8M	100x	as long as short
Nado WTI-PERP	−0.0066%	1h	92.942	+0.007%	$966K	$674K	10x	as long as short
tradeXYZ xyz:CL	−0.0049%	1h	92.936	0.000%	$184.7M	$220.5M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.200%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0039%	1h	92.840	−0.103%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSDshort	−0.0038%	1h	92.954	+0.019%	$274K	$884K	25x
QFEX CL-USD	−0.0033%	1h	92.870	−0.071%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0020%	4h	92.920	−0.017%	$42.8M	$105.1M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.911	−0.027%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.960	+0.026%	$26.9M	$82.2M	150x	as long as short
Bitget CLUSDTlong	0.0000%	4h	92.936	long leg	$42.0M	$44.1M	100x
Phoenix WTIOIL	0.0000%	1h	92.790	−0.157%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.909	−0.029%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.447	−0.526%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0017%	1h	92.811	−0.135%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0028%	8h	92.875	−0.066%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.907	−0.031%	$11.2M	$10.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.940	+0.004%	$2.1M	$24.4M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	93.015	+0.085%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.430	−0.544%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.910	−0.028%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.909	−0.029%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.905	−0.033%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTM	+0.0074%	4h	92.935	−0.001%	$7.2M	$2.3M	50x	as long as short
edgeX CLUSDC	+0.0089%	4h	92.738	−0.213%	$533K	$298K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.902	−0.037%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.740	−0.211%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.866	−0.076%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.905	−0.033%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.04	+9.792%	$19K	$11K	30x	as long as short