Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0108%/8h= −11.9% APRpaid last 24h −0.043%

Price spread now: tradeXYZ against KuCoin−0.004%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$370.375% of the position

Long on KuCoin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$15 on $10k

Price spread, last 7 days−0.053%−$5 · spread now −0.004%, 7d avg −0.031%

Together, before fees−0.207%+ Points / potential airdroptradeXYZ: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.026% dearer against KuCoin than usual: you sell high and buy low (spread −0.004% now, against its 7-day average of −0.031%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CLUSDTM	93.084	0.0006	pay 0.0003% / 4h	59m 39s	$7.1M	$2.4M	50x
Short	tradeXYZ xyz:CL	93.080	−0.0102	pay 0.0013% / 1h	59m 39s	$185.3M	$217.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$22.76
Price spread: −0.004% → −0.031%: $2.64
Slippage, 4 orders: −$7.46
Fee KuCoin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$57.58
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; tradeXYZ: live order book, 10 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	1.72 bp	9.3 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.22 bp	9.2 bp −$9	9.8 bp −$98	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	93.030	−0.058%	$199K	$369K	15x	as long as short
Aster CLUSD1	−0.0261%	4h	93.090	+0.006%	$24.0M	$68.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0248%	4h	93.052	−0.035%	$54K	$635K	25x	as long as short
Binance CLUSDT	−0.0205%	4h	93.095	+0.012%	$244.8M	$953.7M	100x	as long as short
Variational Omni CL	−0.0197%	4h	92.966	−0.127%	$13.5M	$11.2M	—	as long as short
Nado WTI-PERP	−0.0140%	1h	93.101	+0.018%	$963K	$653K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0130%	1h	93.030	−0.058%	$3.5M	$5.6M	20x	as long as short
tradeXYZ xyz:CLshort	−0.0102%	1h	93.080	−0.004%	$185.3M	$217.4M	20x
OKX CL-USDT-SWAP	−0.0082%	4h	93.080	−0.004%	$42.6M	$102.9M	50x	as long as short
Extended WTI-USD	−0.0080%	1h	93.120	+0.039%	$2.1M	$21.9M	10x	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	−0.0066%	1h	93.030	−0.058%	$2K	$27K	5x	as long as short
Gate CL_USDT	−0.0061%	8h	93.030	−0.058%	$20.9M	$50.9M	100x	as long as short
edgeX CLUSDC	−0.0047%	4h	92.984	−0.107%	$529K	$302K	30x	as long as short
Bitget CLUSDT	−0.0042%	4h	93.069	−0.016%	$42.0M	$43.6M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.359%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.020	−0.069%	$2.5M	$1.7M	10x	as long as short
Lighter WTI	0.0000%	1h	93.077	−0.008%	$11.2M	$10.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.101	+0.018%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.110	+0.028%	$26.8M	$81.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.174	+0.096%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.050	−0.037%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.078	−0.006%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.634	−0.483%	$5K	—	150x	as long as short
KuCoin CLUSDTMlong	+0.0006%	4h	93.084	long leg	$7.1M	$2.4M	50x
Paradex CL-USD-PERP	+0.0011%	8h	93.067	−0.019%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	93.010	−0.079%	$734K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.080	−0.004%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.078	−0.006%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.071	−0.014%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.091	+0.008%	$329K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.000	−0.090%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.034	−0.054%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	93.099	+0.016%	$274K	$871K	25x	as long as short
BloFin CL-USDT	+0.0158%	4h	93.000	−0.090%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0209% / S −0.0134%	1h	93.075	−0.010%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.684%	$19K	$11K	30x	as long as short