CL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0185%/8h= +20.2% APRnext payment +$0.23 per $10,000 · paid last 24h +0.032%

Price spread now: Kraken Futures against Deribit+0.027%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.042%+$4 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.027%, 7d avg 0.000%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kraken Futures is 0.027% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of 0.000%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.042% in total (about 3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.23 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WTIOIL_USDC-PERPETUAL	93.060	−0.0394	get 0.0049% / 1h	10m 13s	$194K	$397K	15x
Short	Kraken Futures PF_WTIOILUSD	93.085	−0.0210	pay 0.0026% / 1h	10m 13s	$276K	$929K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now +0.027%Rate

Funding earned: $38.77
Price spread: +0.027% → 0.000%: $2.72
Slippage, 4 orders: −$10.55
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $13.94
Costs to cover: 0.276%
Break-even: 4.5 days

Slippage from Deribit: live order book, 28 min ago; Kraken Futures: live order book, 33 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 Deribit live order book, 28 min ago	0.54 bp	4.0 bp −$4	6.2 bp −$62	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 33 min ago	2.04 bp	9.4 bp −$9	17.6 bp −$176	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-PERPETUALlong	−0.0394%	1h	93.060	long leg	$194K	$397K	15x
Aster CLUSD1	−0.0267%	4h	93.110	+0.054%	$24.8M	$62.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0234%	4h	92.930	−0.140%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSDshort	−0.0210%	1h	93.085	+0.027%	$276K	$929K	25x
Binance CLUSDT	−0.0147%	4h	93.080	+0.021%	$247.1M	$921.0M	100x	as long as short
Variational Omni CL	−0.0136%	4h	93.053	−0.007%	$13.5M	$10.6M	—	as long as short
Gate CL_USDT	−0.0135%	8h	93.070	+0.011%	$23.1M	$50.5M	100x	as long as short
Bitget CLUSDT	−0.0112%	4h	93.106	+0.049%	$42.3M	$41.5M	100x	as long as short
Nado WTI-PERP	−0.0111%	1h	93.131	+0.077%	$954K	$614K	10x	as long as short
Aftermath Perps WTIUSD	−0.0097%	1h	93.025	−0.038%	$1K	$26K	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	−0.0078%	4h	93.070	+0.011%	$42.7M	$102.8M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.060	0.000%	$2.3M	$2.4M	10x	as long as short
edgeX CLUSDC	−0.0021%	4h	93.014	−0.049%	$523K	$306K	30x	as long as short
tradeXYZ xyz:CL	−0.0018%	1h	93.131	+0.076%	$184.4M	$198.1M	20x	as long as short
Lighter WTI	−0.0016%	1h	93.057	−0.003%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.516%	$405K	$810K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0008%	1h	93.040	−0.021%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.077	+0.018%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.110	+0.054%	$27.0M	$79.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.094	+0.037%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	−0.118%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.081	+0.022%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.624	−0.469%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	93.053	−0.007%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.090	+0.032%	$1.7M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.110	+0.054%	$738K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.070	+0.011%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.074	+0.015%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.069	+0.010%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.083	+0.024%	$347K	$591K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.097	+0.040%	$7.0M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.950	−0.118%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.059	−0.001%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0160%	4h	93.040	−0.021%	$4.1M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.751%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0259% / S −0.0206%	1h	93.075	+0.016%	$84K	—	111x	as long as short