Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.025%

Price spread now: KuCoin against Bullet−0.006%7-day average +0.002% · 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−$36as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Bullet Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now −0.006%, 7d avg +0.002%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet WTIOIL-USD	92.475	0	get 0.0000% / 1h	20m 46s	$19K	$239K	10x
Short	KuCoin CLUSDTM	92.470	0.0100	get 0.0050% / 4h	3h 20m	$7.0M	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bullet. 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 BulletbpFee KuCoinbpOrdersPrice spread, now −0.006%Rate

Funding earned: $21
Price spread: −0.006% → +0.002%: −$0.8
Slippage, 4 orders: −$15.21
Fee Bullet: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$15
Costs to cover: 0.352%
Break-even: 12.0 days

Slippage from Bullet: live order book, 13 min ago; KuCoin: live order book, 7 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 Bullet live order book, 13 min ago	1.56 bp	8.4 bp −$8	16.9 bp −$169	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	1.29 bp	10.6 bp −$11	doesn't fit	doesn't fit	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	−0.0614%	1h	92.460	−0.016%	$187K	$412K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0315%	1h	92.487	+0.013%	$268K	$948K	25x	as long as short
Aster CLUSD1	−0.0218%	4h	92.530	+0.059%	$24.9M	$60.0M	20x	as long as short
Binance CLUSDT	−0.0123%	4h	92.500	+0.027%	$245.6M	$931.6M	100x	as long as short
Gate CL_USDT	−0.0119%	8h	92.440	−0.038%	$23.7M	$50.4M	100x	as long as short
Variational Omni CL	−0.0105%	4h	92.432	−0.047%	$13.5M	$10.7M	—	as long as short
Nado WTI-PERP	−0.0100%	1h	92.541	+0.071%	$946K	$596K	10x	as long as short
GRVT CL_USDT_Perp	−0.0080%	4h	92.622	+0.159%	$74K	$611K	25x	as long as short
Bitget CLUSDT	−0.0076%	4h	92.490	+0.016%	$42.1M	$41.9M	100x	as long as short
Aftermath Perps WTIUSD	−0.0066%	1h	92.698	+0.240%	$1K	$27K	5x	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	−0.0045%	4h	92.490	+0.016%	$42.5M	$102.7M	50x	as long as short
edgeX CLUSDC	−0.0031%	4h	92.632	+0.170%	$540K	$342K	30x	as long as short
QFEX CL-USD	−0.0026%	1h	92.480	+0.005%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CL	−0.0011%	1h	92.469	−0.007%	$183.7M	$190.9M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.579	+0.112%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.518	+0.046%	$27.5M	$82.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.555	+0.086%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USDlong	0.0000%	1h	92.475	long leg	$19K	$239K	10x
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.158	−0.343%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.660	+0.200%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.590	+0.124%	$427K	$869K	15x	as long as short
Paradex CL-USD-PERP	+0.0017%	8h	92.471	−0.005%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.464	−0.012%	$11.3M	$8.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.500	+0.027%	$1.7M	$14.0M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0033%	1h	92.460	−0.016%	$3.6M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.590	+0.124%	$728K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.500	+0.027%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.555	+0.086%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.467	−0.009%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.500	+0.027%	$344K	$584K	10x	as long as short
KuCoin CLUSDTMshort	+0.0100%	4h	92.470	−0.006%	$7.0M	$2.5M	50x
ApeX Omni CLUSDT	+0.0100%	1h	92.710	+0.254%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.452	−0.025%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0007%	1h	92.465	−0.011%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0195%	4h	92.520	+0.048%	$4.1M	$999K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+10.445%	$19K	$5K	30x	as long as short