Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0704%/8h= +77.1% APRpaid last 24h +0.079%

Price spread now: Kraken Futures against Gate−0.067%7-day average — · you buy dearer than you sell

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

Long on Gate 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 0.067% cheaper against Gate than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 8 hours of funding at the current rate (+$21 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate 2Z_USDT	0.05200	0.0100	pay 0.0050% / 4h	33m 32s	$90K	$65K	50x
Short	Kraken Futures PF_2ZUSD	0.05197	0.0804	get 0.0100% / 1h	33m 32s	$5K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.067%Rate

Funding earned: $147.83
Price spread: −0.067% → 0.000%: −$6.69
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $116.13
Costs to cover: 0.250%
Break-even: 1.5 days

Slippage unknown: Gate: no order-book sample; 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 Gate no order-book sample	—	—	—	—	—
Sell Kraken Futures no order-book sample	—	—	—	—	—

Gate and 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	−0.0734%	1h	0.05188	−0.231%	$45K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.231%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05206	+0.115%	$16K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05202	+0.035%	$672K	$366K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05198	−0.039%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05199	−0.023%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05203	+0.058%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05207	+0.135%	$687K	$976K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05208	+0.154%	$447K	$718K	20x	as long as short
Gate 2Z_USDTlong	+0.0100%	4h	0.05200	long leg	$90K	$65K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05201	+0.019%	$291K	$126K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05197	−0.058%	$191K	$52K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05199	−0.019%	$153K	$622K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05199	−0.019%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05189	−0.210%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05191	−0.173%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSDshort	+0.0804%	1h	0.05197	−0.067%	$5K	$3K	10x