Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.028%

Price spread now: KuCoin against Coinbase International+0.647%7-day average +0.109% · you sell dearer than you buy

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs+$24as in the Price arb table

costs, in and out, $10k−$300.301% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.340%+$34 on $10k

Price spread, last 3 days (all we have)−0.583%−$58 · spread now +0.647%, 7d avg +0.109%

Together, before fees−0.242%−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and KuCoin is 0.537% dearer against Coinbase International than usual: you sell high and buy low: +$54 more if the spread goes back to its 7-day average of +0.109%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WTIOIL-PERP-INTX	92.030	−0.0040	get 0.0005% / 1h	22m 39s	$399K	$959K	15x
Short	KuCoin CLUSDTM	92.625	0.0100	get 0.0050% / 4h	3h 22m	$7.2M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +0.647%Rate

Funding earned: $29.4
Price spread: +0.647% → +0.109%: $53.73
Slippage, 4 orders: −$8.09
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $53.04
Costs to cover: 0.301%
Break-even: from the start

Slippage from Coinbase International: live order book, 26 min ago; KuCoin: live order book, 5 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 Coinbase International live order book, 26 min ago	1.63 bp	6.9 bp −$7	8.9 bp −$89	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	0.27 bp	8.6 bp −$9	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	−0.0398%	1h	92.600	+0.619%	$123K	$275K	15x	as long as short
GRVT CL_USDT_Perp	−0.0346%	4h	92.524	+0.537%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0333%	4h	92.629	+0.651%	$24.0M	$78.4M	20x	as long as short
Binance CLUSDT	−0.0273%	4h	92.690	+0.717%	$245.5M	$1.06B	100x	as long as short
Variational Omni CL	−0.0265%	4h	92.480	+0.489%	$13.1M	$12.2M	—	as long as short
Gate CL_USDT	−0.0214%	8h	92.580	+0.598%	$21.3M	$55.2M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.629	+0.651%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0064%	1h	92.638	+0.660%	$933K	$732K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0047%	1h	92.590	+0.608%	$3.5M	$6.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTXlong	−0.0040%	1h	92.030	long leg	$399K	$959K	15x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.640	+0.663%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0025%	1h	92.616	+0.637%	$186.7M	$235.9M	20x	as long as short
Paradex CL-USD-PERP	−0.0003%	8h	92.608	+0.628%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.657	+0.681%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.703	+0.731%	$26.5M	$92.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.670	+0.695%	$43.0M	$111.3M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.771	+0.805%	$3.3M	$2.8M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.638	+0.661%	$42.2M	$50.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.600	+0.619%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.600	+0.619%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.173	+0.155%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	92.619	+0.640%	$11.2M	$10.1M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.660	+0.685%	$2.3M	$26.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.400	+0.402%	$723K	$3.1M	40x	as long as short
edgeX CLUSDC	+0.0041%	4h	92.545	+0.559%	$532K	$299K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.610	+0.630%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.593	+0.612%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.618	+0.639%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.621	+0.642%	$356K	$603K	10x	as long as short
KuCoin CLUSDTMshort	+0.0100%	4h	92.625	+0.647%	$7.2M	$2.4M	50x
ApeX Omni CLUSDT	+0.0100%	1h	92.560	+0.576%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.580	+0.597%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.615	+0.636%	$78K	—	111x	as long as short
Aftermath Perps WTIUSD	+0.0217%	1h	92.542	+0.556%	$2K	$28K	5x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+10.351%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.510	+0.522%	$4.0M	$1.4M	50x	as long as short