Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.047%

Price spread now: KuCoin against Nado−0.016%7-day average +0.025% · 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−$31as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.127%+$13 on $10k

Price spread, last 7 days+0.118%+$12 · spread now −0.016%, 7d avg +0.025%

Together, before fees+0.245%+ Points / potential airdropNado: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.041% cheaper against Nado than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.025%). If the spread goes back, that is −$4 on $10k: about 32 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado WTI-PERP	92.815	−0.0035	get 0.0004% / 1h	36m 52s	$936K	$678K	10x
Short	KuCoin CLUSDTM	92.800	0.0070	get 0.0035% / 4h	2h 36m	$7.2M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Nado. 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 NadobpFee KuCoinbpOrdersPrice spread, now −0.016%Rate

Funding earned: $22.03
Price spread: −0.016% → +0.025%: −$4.13
Slippage, 4 orders: −$8.33
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$9.44
Costs to cover: 0.273%
Break-even: 10.0 days

Slippage from Nado: live order book, 32 min ago; KuCoin: live order book, 6 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 Nado live order book, 32 min ago	0.05 bp	4.1 bp −$4	6.8 bp −$68	27.2 bp −$2,717	doesn't fit
Sell KuCoin live order book, 6 min ago	1.67 bp	8.6 bp −$9	doesn't fit	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	−0.0504%	1h	92.740	−0.081%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0331%	4h	92.785	−0.032%	$23.9M	$74.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0296%	4h	92.686	−0.139%	$50K	$633K	25x	as long as short
Binance CLUSDT	−0.0273%	4h	92.760	−0.059%	$244.3M	$992.5M	100x	as long as short
Variational Omni CL	−0.0266%	4h	92.741	−0.080%	$13.3M	$11.1M	—	as long as short
Gate CL_USDT	−0.0152%	8h	92.720	−0.102%	$20.9M	$53.0M	100x	as long as short
tradeXYZ xyz:CL	−0.0068%	1h	92.754	−0.066%	$185.0M	$221.7M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0064%	1h	92.730	−0.092%	$3.5M	$5.7M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.846%	$399K	$939K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.797	−0.020%	$275K	$870K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado WTI-PERPlong	−0.0035%	1h	92.815	long leg	$936K	$678K	10x
QFEX CL-USD	−0.0033%	1h	92.730	−0.092%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0011%	4h	92.770	−0.049%	$42.8M	$106.3M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.754	−0.066%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.790	−0.027%	$26.3M	$83.0M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.752	−0.068%	$41.9M	$45.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	−0.027%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.766	−0.053%	$17K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.316	−0.538%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0016%	1h	92.810	−0.006%	$2.1M	$25.0M	10x	as long as short
edgeX CLUSDC	+0.0018%	4h	92.721	−0.101%	$533K	$297K	30x	as long as short
Paradex CL-USD-PERP	+0.0023%	8h	92.749	−0.071%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	92.774	−0.044%	$11.2M	$10.2M	20x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.877	+0.067%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.380	−0.469%	$726K	$3.0M	40x	as long as short
Aftermath Perps WTIUSD	+0.0041%	1h	92.757	−0.062%	$2K	$28K	5x	as long as short
Vest CL-PERP	+0.0046%	1h	92.780	−0.038%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.755	−0.065%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.765	−0.054%	$2.1M	$61K	20x	as long as short
KuCoin CLUSDTMshort	+0.0070%	4h	92.800	−0.016%	$7.2M	$2.3M	50x
Pacifica CL	+0.0100%	1h	92.778	−0.040%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.760	−0.059%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.733	−0.088%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.755	−0.065%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.716%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0228%	4h	92.730	−0.092%	$4.0M	$1.2M	50x	as long as short