Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.024%

Price spread now: Coinbase International against KuCoin+0.476%7-day average −0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs+$26as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.313%−$31 on $10k

Price spread, last 4 days (all we have)−0.528%−$53 · spread now +0.476%, 7d avg −0.120%

Together, before fees−0.841%−$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.596% dearer against KuCoin than usual: you sell high and buy low (spread +0.476% now, against its 7-day average of −0.120%): +$60 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	93.097	0.0100	pay 0.0050% / 4h	34m 00s	$7.1M	$2.4M	50x
Short	Coinbase International WTIOIL-PERP-INTX	93.540	−0.0016	pay 0.0002% / 1h	34m 00s	$405K	$810K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.476%Rate

Funding earned: −$24.36
Price spread: +0.476% → −0.120%: $59.63
Slippage, 4 orders: −$11.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $1.92
Costs to cover: 0.333%
Break-even: from the start

Slippage from KuCoin: live order book, 4 min ago; Coinbase International: live order book, 44 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, 4 min ago	1.72 bp	9.8 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 44 min ago	1.07 bp	6.1 bp −$6	8.1 bp −$81	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	−0.0609%	1h	93.020	−0.083%	$194K	$394K	15x	as long as short
Aster CLUSD1	−0.0288%	4h	93.130	+0.035%	$24.7M	$64.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.210	+0.121%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0210%	1h	93.058	−0.042%	$274K	$939K	25x	as long as short
Binance CLUSDT	−0.0161%	4h	93.120	+0.025%	$247.3M	$922.8M	100x	as long as short
Variational Omni CL	−0.0143%	4h	93.137	+0.043%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0128%	8h	93.050	−0.050%	$22.9M	$49.2M	100x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.100	+0.003%	$42.3M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0110%	1h	93.202	+0.113%	$2K	$27K	5x	as long as short
Nado WTI-PERP	−0.0095%	1h	93.150	+0.056%	$954K	$623K	10x	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	−0.0074%	4h	93.080	−0.018%	$42.6M	$102.9M	50x	as long as short
edgeX CLUSDC	−0.0057%	4h	93.176	+0.085%	$524K	$305K	30x	as long as short
QFEX CL-USD	−0.0038%	1h	93.080	−0.018%	$2.3M	$2.5M	10x	as long as short
tradeXYZ xyz:CL	−0.0037%	1h	93.103	+0.006%	$184.0M	$199.7M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0020%	1h	93.010	−0.093%	$3.6M	$5.3M	20x	as long as short
Lighter WTI	−0.0016%	1h	93.073	−0.026%	$11.2M	$9.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	−0.0016%	1h	93.540	+0.476%	$405K	$810K	15x
Paradex CL-USD-PERP	−0.0004%	8h	93.069	−0.030%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.085	−0.013%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.120	+0.025%	$26.7M	$79.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.123	+0.028%	$3.0M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.290	+0.207%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.058	−0.041%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.615	−0.518%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	93.090	−0.008%	$1.6M	$14.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.150	+0.057%	$738K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.080	−0.018%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.042	−0.059%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.073	−0.026%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.096	−0.001%	$347K	$593K	10x	as long as short
KuCoin CLUSDTMlong	+0.0100%	4h	93.097	long leg	$7.1M	$2.4M	50x
ApeX Omni CLUSDT	+0.0100%	1h	93.170	+0.078%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.025	−0.077%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0171%	4h	93.100	+0.003%	$4.0M	$982K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.45	+10.047%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0244% / S −0.0169%	1h	93.095	−0.002%	$78K	—	111x	as long as short