Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0417%/8h= +45.7% APRpaid last 24h +0.100%

Price spread now: Kraken Futures against Bitget−0.628%7-day average — · you buy dearer than you sell

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

Long on Bitget 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—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.628% cheaper against Bitget than usual: you would sell low and buy high (spread −0.628% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$63 on $10k: about 5.0 days of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget 2ZUSDT	0.05186	0.0100	pay 0.0050% / 4h	2h 38m	$147K	$635K	50x
Short	Kraken Futures PF_2ZUSD	0.05153	0.0517	get 0.0065% / 1h	38m 53s	$5K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now −0.628%Rate

Funding earned: $87.65
Price spread: −0.628% → 0.000%: −$62.79
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $2.85
Costs to cover: 0.220%
Break-even: 6.8 days

Slippage unknown: Bitget: live order book, 6 min ago; Kraken Futures: no order-book sample. 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 Bitget live order book, 6 min ago	9.59 bp	25.4 bp −$25	135.9 bp −$1,359	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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.

2Z on 17 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
Backpack 2Z_USDC_PERP	−0.0863%	1h	0.05180	−0.116%	$45K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−3.972%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05197	+0.212%	$16K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05189	+0.050%	$654K	$350K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05190	+0.076%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05170	−0.309%	$74K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05188	+0.032%	$2.1M	$2.0M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05190	+0.077%	$706K	$943K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05188	+0.039%	$442K	$691K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05180	−0.116%	$90K	$60K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05190	+0.077%	$322K	$126K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05188	+0.039%	$178K	$51K	50x	as long as short
Bitget 2ZUSDTlong	+0.0100%	4h	0.05186	long leg	$147K	$635K	50x
BingX 2Z-USDT	+0.0100%	4h	0.05186	0.000%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05200	+0.264%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05189	+0.058%	$1K	$1.1M	20x	as long as short
Kraken Futures PF_2ZUSDshort	+0.0517%	1h	0.05153	−0.628%	$5K	$3K	10x