Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0078%/8h= −8.5% APRpaid last 24h −0.017%

Price spread now: Kraken Futures against Paradex+0.040%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Kraken Futures is 0.040% dearer against Paradex than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	93.268	0.0017	pay 0.0017% / 8h	3h 40m	$16K	$367	5x
Short	Kraken Futures PF_WTIOILUSD	93.305	−0.0061	pay 0.0008% / 1h	40m 51s	$277K	$960K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Paradex. 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 ParadexbpFee Kraken FuturesbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$16.37
Price spread: +0.040% → 0.000%: $4.01
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$26.36
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Kraken Futures: live order book, 18 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 18 min ago	2.42 bp	7.7 bp −$8	21.9 bp −$219	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0607%	1h	93.260	−0.009%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0263%	4h	93.330	+0.066%	$24.1M	$66.6M	20x	as long as short
GRVT CL_USDT_Perp	−0.0226%	4h	93.196	−0.078%	$54K	$645K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.295	+0.029%	$245.5M	$940.8M	100x	as long as short
Variational Omni CL	−0.0159%	4h	93.269	+0.001%	$13.4M	$10.9M	—	as long as short
Nado WTI-PERP	−0.0130%	1h	93.321	+0.057%	$965K	$636K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.294	+0.028%	$42.0M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.230	−0.041%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0112%	1h	93.222	−0.049%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSDshort	−0.0061%	1h	93.305	+0.040%	$277K	$960K	25x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0052%	8h	93.240	−0.030%	$21.1M	$51.0M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.084%	$401K	$927K	15x	as long as short
QFEX CL-USD	−0.0033%	1h	93.260	−0.009%	$2.3M	$1.8M	10x	as long as short
OKX CL-USDT-SWAP	−0.0031%	4h	93.300	+0.034%	$42.7M	$103.0M	50x	as long as short
edgeX CLUSDC	−0.0017%	4h	93.238	−0.032%	$524K	$305K	30x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.300	+0.034%	$37K	$41K	20x	as long as short
KuCoin CLUSDTM	−0.0008%	4h	93.304	+0.038%	$7.1M	$2.4M	50x	as long as short
tradeXYZ xyz:CL	−0.0004%	1h	93.309	+0.044%	$184.8M	$219.1M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.272	+0.004%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.320	+0.056%	$27.0M	$80.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.356	+0.094%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.293	+0.027%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.848	−0.450%	$5K	—	150x	as long as short
Paradex CL-USD-PERPlong	+0.0017%	8h	93.268	long leg	$16K	$367	5x
Lighter WTI	+0.0032%	1h	93.302	+0.036%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.330	+0.066%	$2.0M	$19.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.180	−0.094%	$737K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.280	+0.013%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.286	+0.019%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.305	+0.040%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.276	+0.008%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.290	+0.023%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.248	−0.021%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0207%	4h	93.270	+0.002%	$4.0M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0220% / S −0.0148%	1h	93.285	+0.018%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.540%	$19K	$11K	30x	as long as short