Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0790%/8h= −86.6% APRpaid last 24h −0.051%

Price spread now: Deribit against KuCoin−0.059%7-day average +0.003% · 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−$33as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.084%−$8 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.059%, 7d avg +0.003%

Together, before fees−0.068%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Deribit is 0.062% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.084% in total (about -8.1% a year). A funding rate is set anew for every payment. 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	KuCoin CLUSDTM	92.895	0.0072	pay 0.0036% / 4h	1h 48m	$7.3M	$2.3M	50x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.840	−0.0718	pay 0.0090% / 1h	48m 34s	$198K	$369K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$166
Price spread: −0.059% → +0.003%: −$6.17
Slippage, 4 orders: −$7.97
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$199.14
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Deribit: live order book, 15 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	1.67 bp	9.9 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 15 min ago	0.54 bp	4.0 bp −$4	7.1 bp −$71	doesn't fit	doesn't fit

CL on 35 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	−0.0718%	1h	92.840	−0.059%	$198K	$369K	15x
Aster CLUSD1	−0.0238%	4h	92.904	+0.009%	$24.0M	$70.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0208%	4h	92.953	+0.062%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0206%	4h	92.880	−0.016%	$244.6M	$957.3M	100x	as long as short
Variational Omni CL	−0.0200%	4h	92.927	+0.034%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0138%	1h	92.820	−0.081%	$3.5M	$5.7M	20x	as long as short
Nado WTI-PERP	−0.0125%	1h	92.945	+0.053%	$962K	$668K	10x	as long as short
Gate CL_USDT	−0.0099%	8h	92.830	−0.070%	$20.9M	$52.2M	100x	as long as short
tradeXYZ xyz:CL	−0.0050%	1h	92.890	−0.005%	$184.8M	$218.5M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.156%	$402K	$944K	15x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0032%	1h	92.860	−0.038%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0018%	1h	92.914	+0.020%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAP	−0.0012%	4h	92.870	−0.027%	$42.8M	$102.4M	50x	as long as short
edgeX CLUSDC	−0.0008%	4h	92.823	−0.078%	$529K	$302K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.917	+0.023%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.899	+0.004%	$26.9M	$81.0M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.876	−0.020%	$41.9M	$43.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.880	−0.016%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.888	−0.008%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.446	−0.483%	$5K	—	150x	as long as short
Lighter WTI	+0.0016%	1h	92.894	−0.001%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.930	+0.038%	$2.1M	$23.3M	10x	as long as short
Paradex CL-USD-PERP	+0.0034%	8h	92.865	−0.032%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.440	−0.490%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.910	+0.016%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.897	+0.002%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.875	−0.022%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.999	+0.111%	$3.3M	$2.7M	20x	as long as short
KuCoin CLUSDTMlong	+0.0072%	4h	92.895	long leg	$7.3M	$2.3M	50x
Pacifica CL	+0.0100%	1h	92.887	−0.009%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.940	+0.048%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.851	−0.047%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.879	−0.018%	$273K	$881K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.875	−0.022%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.15	+9.960%	$19K	$11K	30x	as long as short