Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0185%/8h= +20.2% APRpaid last 24h +0.095%

Price spread now: KuCoin against Deribit+0.065%7-day average +0.001% · 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−$24as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.147%+$15 on $10k

Price spread, last 4 days (all we have)+0.055%+$5 · spread now +0.065%, 7d avg +0.001%

Together, before fees+0.202%+$20 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 KuCoin is 0.064% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WTIOIL_USDC-PERPETUAL	89.620	−0.0085	get 0.0011% / 1h	44m 53s	$39K	$655K	15x
Short	KuCoin CLUSDTM	89.678	0.0100	get 0.0050% / 4h	1h 44m	$6.9M	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.065%Rate

Funding earned: $38.77
Price spread: +0.065% → +0.001%: $6.42
Slippage, 4 orders: −$11.32
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $14.86
Costs to cover: 0.303%
Break-even: 4.3 days

Slippage from Deribit: live order book, 2 min ago; KuCoin: live order book, 1 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, 2 min ago	0.56 bp	4.1 bp −$4	6.2 bp −$62	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	0.34 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit

CL on 36 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0341%	1h	89.681	+0.068%	$320K	$1.8M	25x	as long as short
Aster CLUSD1	−0.0125%	4h	89.751	+0.146%	$24.4M	$72.1M	20x	as long as short
Bitget CLUSDT	−0.0106%	4h	89.692	+0.080%	$40.8M	$56.9M	100x	as long as short
GRVT CL_USDT_Perp	−0.0106%	4h	89.325	−0.329%	$66K	$632K	25x	as long as short
Deribit WTIOIL_USDC-PERPETUALlong	−0.0085%	1h	89.620	long leg	$39K	$655K	15x
Binance CLUSDT	−0.0080%	4h	89.703	+0.093%	$241.5M	$1.21B	100x	as long as short
tradeXYZ xyz:CL	−0.0076%	1h	89.617	−0.003%	$166.5M	$246.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0068%	1h	89.508	−0.125%	$1K	$26K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0066%	1h	89.660	+0.045%	$3.4M	$6.3M	20x	as long as short
Variational Omni CL	−0.0056%	4h	89.472	−0.165%	$12.5M	$11.4M	—	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0055%	8h	89.610	−0.011%	$23.1M	$54.0M	100x	as long as short
Extended WTI-USD	−0.0048%	1h	89.680	+0.067%	$1.3M	$14.5M	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	89.700	+0.089%	$410K	$1.5M	15x	as long as short
QFEX CL-USD	−0.0025%	1h	89.670	+0.056%	$2.2M	$2.8M	10x	as long as short
Nado WTI-PERP	−0.0025%	1h	89.726	+0.118%	$875K	$689K	10x	as long as short
OKX CL-USDT-SWAP	−0.0024%	4h	89.690	+0.078%	$39.9M	$133.0M	50x	as long as short
edgeX CLUSDC	−0.0023%	4h	89.388	−0.259%	$494K	$385K	30x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.246	−0.417%	$607	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	89.709	+0.099%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	89.711	+0.102%	$27.1M	$109.3M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	89.752	+0.147%	$2.8M	$3.1M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	89.470	−0.167%	$32K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	89.630	+0.011%	$17K	$237K	10x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	89.644	+0.027%	$15K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	89.594	−0.029%	$10.6M	$10.4M	20x	as long as short
StandX CL-USD	+0.0040%	1h	89.390	−0.257%	$689K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	89.630	+0.011%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	89.668	+0.054%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	89.600	−0.022%	$2.0M	$84K	20x	as long as short
Pacifica CL	+0.0100%	1h	89.657	+0.041%	$300K	$737K	10x	as long as short
KuCoin CLUSDTMshort	+0.0100%	4h	89.678	+0.065%	$6.9M	$3.0M	50x
ApeX Omni CLUSDT	+0.0100%	1h	89.370	−0.279%	$52K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	89.589	−0.034%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0165% / S −0.0004%	1h	89.605	−0.017%	$77K	—	111x	as long as short
BloFin CL-USDT	+0.0216%	4h	89.580	−0.045%	$3.9M	$1.1M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	90.137	+0.577%	$16K	$5K	30x	as long as short