Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.039%

Price spread now: Kraken Futures against KuCoin+0.016%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.463%−$46 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.016%, 7d avg −0.002%

Together, before fees−0.582%−$58 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	93.295	−0.0006	get 0.0003% / 4h	3h 38m	$7.1M	$2.4M	50x
Short	Kraken Futures PF_WTIOILUSD	93.310	−0.0061	pay 0.0008% / 1h	38m 40s	$277K	$960K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$11.52
Price spread: +0.016% → −0.002%: $1.78
Slippage, 4 orders: −$15.96
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$47.7
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Kraken Futures: live order book, 20 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	1.61 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 20 min ago	2.42 bp	7.7 bp −$8	21.9 bp −$219	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	−0.0393%	1h	93.290	−0.005%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0260%	4h	93.280	−0.016%	$24.1M	$66.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	93.265	−0.032%	$54K	$645K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.240	−0.059%	$245.4M	$941.8M	100x	as long as short
Variational Omni CL	−0.0159%	4h	93.269	−0.028%	$13.4M	$10.9M	—	as long as short
Nado WTI-PERP	−0.0130%	1h	93.363	+0.072%	$965K	$636K	10x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.216	−0.085%	$42.0M	$43.3M	100x	as long as short
Aftermath Perps WTIUSD	−0.0116%	1h	93.262	−0.036%	$2K	$27K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0114%	1h	93.190	−0.113%	$3.5M	$5.4M	20x	as long as short
Kraken Futures PF_WTIOILUSDshort	−0.0061%	1h	93.310	+0.016%	$277K	$960K	25x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0058%	4h	93.273	−0.024%	$524K	$305K	30x	as long as short
Gate CL_USDT	−0.0054%	8h	93.180	−0.123%	$21.1M	$51.1M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.113%	$401K	$927K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.210	−0.091%	$2.3M	$1.8M	10x	as long as short
OKX CL-USDT-SWAP	−0.0031%	4h	93.230	−0.070%	$42.6M	$103.0M	50x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.300	+0.005%	$37K	$41K	20x	as long as short
tradeXYZ xyz:CL	−0.0008%	1h	93.277	−0.019%	$184.7M	$217.8M	20x	as long as short
KuCoin CLUSDTMlong	−0.0006%	4h	93.295	long leg	$7.1M	$2.4M	50x
dYdX WTI-USD	0.0000%	1h	93.352	+0.061%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.249	−0.049%	$26.9M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.296	+0.001%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.315	+0.021%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.867	−0.459%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0018%	8h	93.221	−0.080%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.264	−0.033%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.300	+0.005%	$2.0M	$19.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.210	−0.091%	$737K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.320	+0.027%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.308	+0.014%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.279	−0.017%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.252	−0.046%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	−0.005%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.272	−0.025%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0209%	4h	93.280	−0.016%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.509%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0220% / S −0.0148%	1h	93.315	+0.021%	$81K	—	111x	as long as short