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: Deribit against Kraken Futures−0.027%7-day average 0.000% · 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−$30as in the Price arb table

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

Long on Kraken Futures Short on Deribit

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 against this trade now: funding costs −$6 a day on $10k at the current rate, and Deribit is 0.027% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

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	Kraken Futures PF_WTIOILUSD	93.085	−0.0210	get 0.0026% / 1h	9m 24s	$276K	$929K	25x
Short	Deribit WTIOIL_USDC-PERPETUAL	93.060	−0.0394	pay 0.0049% / 1h	9m 24s	$194K	$397K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Kraken Futures. 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 Kraken FuturesbpFee DeribitbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$38.77
Price spread: −0.027% → 0.000%: −$2.72
Slippage, 4 orders: −$10.55
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$69.04
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 34 min ago; Deribit: live order book, 29 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 Kraken Futures live order book, 34 min ago	2.04 bp	10.0 bp −$10	24.9 bp −$249	doesn't fit	doesn't fit
Sell Deribit live order book, 29 min ago	0.54 bp	4.0 bp −$4	7.8 bp −$78	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-PERPETUALshort	−0.0394%	1h	93.060	−0.027%	$194K	$397K	15x
Aster CLUSD1	−0.0263%	4h	93.200	+0.123%	$24.8M	$62.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0230%	4h	93.059	−0.029%	$77K	$622K	25x	as long as short
Kraken Futures PF_WTIOILUSDlong	−0.0210%	1h	93.085	long leg	$276K	$929K	25x
Binance CLUSDT	−0.0145%	4h	93.173	+0.094%	$247.4M	$921.2M	100x	as long as short
Variational Omni CL	−0.0136%	4h	93.053	−0.034%	$13.5M	$10.6M	—	as long as short
Gate CL_USDT	−0.0135%	8h	93.060	−0.027%	$23.1M	$50.5M	100x	as long as short
Nado WTI-PERP	−0.0111%	1h	93.155	+0.075%	$954K	$613K	10x	as long as short
Bitget CLUSDT	−0.0110%	4h	93.155	+0.075%	$42.3M	$41.5M	100x	as long as short
edgeX CLUSDC	−0.0089%	4h	93.053	−0.035%	$523K	$304K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0087%	1h	93.070	−0.017%	$1K	$26K	5x	as long as short
OKX CL-USDT-SWAP	−0.0078%	4h	93.170	+0.091%	$42.6M	$103.1M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.120	+0.037%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0017%	1h	93.196	+0.119%	$184.5M	$196.3M	20x	as long as short
Lighter WTI	−0.0016%	1h	93.106	+0.022%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.489%	$405K	$810K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0006%	1h	93.090	+0.005%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.077	−0.009%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.210	+0.134%	$27.0M	$79.5M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.154	+0.074%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.950	−0.145%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.189	+0.111%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.769	−0.340%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	93.104	+0.020%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	93.140	+0.059%	$1.7M	$15.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.120	+0.037%	$738K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.140	+0.059%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.168	+0.089%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.069	−0.017%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.126	+0.044%	$347K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.199	+0.122%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.120	+0.037%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.059	−0.028%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0160%	4h	93.040	−0.049%	$4.1M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.721%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0259% / S −0.0206%	1h	93.075	−0.011%	$84K	—	111x	as long as short