Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0062%/8h= −6.8% APRpaid last 24h −0.024%

Price spread now: Bybit against KuCoin+0.006%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.402%−$40 on $10k

Price spread, last 7 days−0.063%−$6 · spread now +0.006%, 7d avg −0.024%

Together, before fees−0.465%−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.030% dearer against KuCoin than usual: you sell high and buy low (spread +0.006% now, against its 7-day average of −0.024%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 hours. At the pace of the last 7 days (−0.402% in total) that is about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	93.547	0.0062	pay 0.0031% / 4h	2h 25m	$7.1M	$2.4M	50x
Short	Bybit CLUSDT	93.553	0	get 0.0000% / 8h	2h 25m	$27.1M	$79.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$13.02
Price spread: +0.006% → −0.024%: $3.01
Slippage, 4 orders: −$8.78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$41.78
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bybit: live order book, 4 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 KuCoin live order book, 3 min ago	1.50 bp	8.6 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.54 bp	6.0 bp −$6	7.2 bp −$72	15.1 bp −$1,514	96.3 bp −$48.2K

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	−0.0392%	1h	93.440	−0.114%	$197K	$374K	15x	as long as short
GRVT CL_USDT_Perp	−0.0320%	4h	93.424	−0.132%	$58K	$639K	25x	as long as short
Aster CLUSD1	−0.0302%	4h	93.570	+0.025%	$24.4M	$65.1M	20x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0204%	1h	93.464	−0.089%	$285K	$960K	25x	as long as short
Binance CLUSDT	−0.0189%	4h	93.537	−0.011%	$246.8M	$932.8M	100x	as long as short
Variational Omni CL	−0.0182%	4h	93.450	−0.104%	$13.4M	$10.9M	—	as long as short
Aftermath Perps WTIUSD	−0.0149%	1h	93.451	−0.102%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0133%	1h	93.567	+0.021%	$968K	$616K	10x	as long as short
Bitget CLUSDT	−0.0132%	4h	93.523	−0.026%	$42.1M	$42.9M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0112%	1h	93.480	−0.072%	$3.5M	$5.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0077%	8h	93.470	−0.082%	$21.9M	$49.7M	100x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.495	−0.055%	$526K	$305K	30x	as long as short
tradeXYZ xyz:CL	−0.0063%	1h	93.536	−0.012%	$185.1M	$214.9M	20x	as long as short
OKX CL-USDT-SWAP	−0.0058%	4h	93.540	−0.007%	$42.7M	$102.7M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.414%	$403K	$928K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.520	−0.029%	$2.3M	$2.4M	10x	as long as short
dYdX WTI-USD	0.0000%	1h	93.496	−0.055%	$8K	$3K	5x	as long as short
Bybit CLUSDTshort	0.0000%	8h	93.553	+0.006%	$27.1M	$79.5M	150x
RISEx CL/USDC	0.0000%	1h	93.573	+0.027%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.380	−0.179%	$38K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.538	−0.010%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.076	−0.503%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	93.512	−0.037%	$16K	$367	5x	as long as short
Lighter WTI	+0.0008%	1h	93.530	−0.018%	$11.2M	$9.9M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.550	+0.003%	$2.0M	$17.2M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.450	−0.104%	$740K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.520	−0.029%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.527	−0.022%	$332K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.522	−0.027%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.460	−0.093%	$2.1M	$60K	20x	as long as short
KuCoin CLUSDTMlong	+0.0062%	4h	93.547	long leg	$7.1M	$2.4M	50x
ApeX Omni CLUSDT	+0.0100%	1h	93.410	−0.146%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.431	−0.124%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0179%	4h	93.490	−0.061%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.60	+9.681%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0237% / S −0.0169%	1h	93.535	−0.013%	$84K	—	111x	as long as short