Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h +0.008%

Price spread now: Kraken Futures against Variational Omni+0.025%7-day average +0.025% · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.048%+$5 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.025%, 7d avg +0.025%

Together, before fees−0.009%+ Points / potential airdropVariational Omni: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	93.329	−0.0185	get 0.0093% / 4h	2h 48m	$13.3M	$10.9M	—
Short	Kraken Futures PF_WTIOILUSD	93.352	−0.0204	pay 0.0025% / 1h	48m 07s	$283K	$962K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$3.95
Price spread: +0.025% → +0.025%: −$0.04
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$13.99
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Kraken Futures: live order book, 5 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 Variational Omni RFQ quote, 1 min ago	2.26 bp	doesn't fit	2.6 bp −$26	6.2 bp −$618	doesn't fit
Sell Kraken Futures live order book, 5 min ago	1.93 bp	7.2 bp −$7	20.6 bp −$206	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	−0.0714%	1h	93.300	−0.031%	$197K	$372K	15x	as long as short
GRVT CL_USDT_Perp	−0.0346%	4h	93.320	−0.009%	$58K	$649K	25x	as long as short
Aster CLUSD1	−0.0298%	4h	93.370	+0.044%	$24.4M	$66.5M	20x	as long as short
Kraken Futures PF_WTIOILUSDshort	−0.0204%	1h	93.352	+0.025%	$283K	$962K	25x
Binance CLUSDT	−0.0198%	4h	93.350	+0.023%	$246.5M	$935.9M	100x	as long as short
Variational Omni CLlong	−0.0185%	4h	93.329	long leg	$13.3M	$10.9M	—
Ondo Perps WTI-USD.P	−0.0160%	1h	93.280	−0.052%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0139%	1h	93.325	−0.004%	$2K	$26K	5x	as long as short
Bitget CLUSDT	−0.0134%	4h	93.323	−0.006%	$42.1M	$43.1M	100x	as long as short
Nado WTI-PERP	−0.0131%	1h	93.388	+0.063%	$967K	$621K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0077%	1h	93.344	+0.016%	$184.5M	$215.5M	20x	as long as short
Gate CL_USDT	−0.0074%	8h	93.280	−0.052%	$21.6M	$49.2M	100x	as long as short
OKX CL-USDT-SWAP	−0.0068%	4h	93.340	+0.012%	$42.6M	$102.6M	50x	as long as short
edgeX CLUSDC	−0.0065%	4h	93.310	−0.020%	$524K	$306K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.160	−0.181%	$403K	$929K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	93.310	−0.020%	$2.3M	$2.1M	10x	as long as short
Lighter WTI	−0.0016%	1h	93.337	+0.009%	$11.2M	$9.8M	20x	as long as short
Paradex CL-USD-PERP	−0.0012%	8h	93.315	−0.015%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.329	+0.001%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.360	+0.034%	$27.1M	$79.9M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.391	+0.067%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.390	+0.066%	$37K	$41K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.333	+0.005%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.888	−0.472%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	93.370	+0.044%	$2.0M	$18.0M	10x	as long as short
KuCoin CLUSDTM	+0.0032%	4h	93.367	+0.041%	$7.1M	$2.4M	50x	as long as short
StandX CL-USD	+0.0040%	1h	93.340	+0.012%	$739K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.340	+0.012%	—	$313K	10x	as long as short
Pacifica CL	+0.0047%	1h	93.337	+0.008%	$331K	$576K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.334	+0.006%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.335	+0.007%	$2.1M	$60K	20x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.420	+0.098%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.305	−0.025%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0173%	4h	93.310	−0.020%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.57	+9.904%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0232% / S −0.0164%	1h	93.335	+0.007%	$84K	—	111x	as long as short