CL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0052%/8h= −5.7% APRnext payment −$0.07 per $10,000 · paid last 24h −0.016%

Price spread now: Kraken Futures against Phoenix−0.040%71s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.440%−$44 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.040% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix WTIOIL	93.230	−0.0009	get 0.0001% / 1h	43m 34s	$37K	$41K	20x
Short	Kraken Futures PF_WTIOILUSD	93.192	−0.0061	pay 0.0008% / 1h	43m 34s	$270K	$951K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phoenix. 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 PhoenixbpFee Kraken FuturesbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$10.99
Price spread: −0.040% → 0.000%: −$4.05
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$32.04
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Kraken Futures: live order book, 15 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 Phoenix no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 15 min ago	2.42 bp	7.7 bp −$8	21.9 bp −$219	doesn't fit	doesn't fit

Phoenix: 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	−0.0608%	1h	93.160	−0.075%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.249	+0.020%	$24.1M	$67.0M	20x	as long as short
GRVT CL_USDT_Perp	−0.0226%	4h	93.196	−0.037%	$54K	$645K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.230	0.000%	$245.5M	$942.0M	100x	as long as short
Variational Omni CL	−0.0160%	4h	93.169	−0.066%	$13.4M	$10.8M	—	as long as short
Nado WTI-PERP	−0.0130%	1h	93.283	+0.057%	$965K	$640K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.225	−0.005%	$42.0M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0119%	1h	93.170	−0.064%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0111%	1h	93.187	−0.046%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSDshort	−0.0061%	1h	93.192	−0.040%	$270K	$951K	25x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0050%	8h	93.180	−0.054%	$21.0M	$50.9M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.043%	$401K	$928K	15x	as long as short
OKX CL-USDT-SWAP	−0.0033%	4h	93.250	+0.021%	$42.7M	$102.9M	50x	as long as short
QFEX CL-USD	−0.0033%	1h	93.220	−0.011%	$2.3M	$1.8M	10x	as long as short
KuCoin CLUSDTM	−0.0010%	4h	93.263	+0.035%	$7.1M	$2.4M	50x	as long as short
Phoenix WTIOILlong	−0.0009%	1h	93.230	long leg	$37K	$41K	20x
edgeX CLUSDC	−0.0005%	4h	93.232	+0.003%	$524K	$308K	30x	as long as short
tradeXYZ xyz:CL	−0.0003%	1h	93.232	+0.002%	$184.6M	$219.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.272	+0.045%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.260	+0.032%	$26.9M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.315	+0.091%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.206	−0.026%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.769	−0.494%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	93.218	−0.012%	$16K	$367	5x	as long as short
Lighter WTI	+0.0032%	1h	93.224	−0.006%	$11.2M	$10.3M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	93.270	+0.043%	$2.0M	$19.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.150	−0.086%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.220	−0.011%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.230	0.000%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.200	−0.032%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.235	+0.005%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.240	+0.011%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.167	−0.068%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0205%	4h	93.200	−0.032%	$4.0M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0219% / S −0.0147%	1h	93.195	−0.038%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.585%	$19K	$11K	30x	as long as short