Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.3250%/8h= +355.9% APRpaid last 24h −0.030%

Price spread now: KuCoin against Kraken Futures+0.153%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on KuCoin

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

Both sides work for this trade now. Funding pays +$98 a day on $10k at the current rate, and KuCoin is 0.153% dearer against Kraken Futures than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_2ZUSD	0.05211	−0.3150	get 0.0394% / 1h	56m 20s	$5K	$2K	10x
Short	KuCoin 2ZUSDTM	0.05219	0.0100	get 0.0050% / 4h	1h 56m	$170K	$60K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now +0.153%Rate

Funding earned: $682.51
Price spread: +0.153% → 0.000%: $15.33
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $675.84
Costs to cover: 0.220%
Break-even: 0.1 days

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 45 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 45 min ago	9.20 bp	78.8 bp −$79	606.1 bp −$6,061	doesn't fit	doesn't fit

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 exchanges

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
Kraken Futures PF_2ZUSDlong	−0.3150%	1h	0.05211	long leg	$5K	$2K	10x
MEXC 2Z_USDT	−0.0014%	4h	0.05217	+0.123%	$312K	$137K	50x	as long as short
Bybit 2ZUSDT	−0.0011%	4h	0.05217	+0.123%	$716K	$996K	50x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.426%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05220	+0.180%	$17K	$3K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05214	+0.073%	$655K	$331K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05220	+0.183%	$12K	$55K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05220	+0.180%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05213	+0.046%	$2.1M	$2.0M	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05211	+0.007%	$431K	$728K	20x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate 2Z_USDT	+0.0100%	4h	0.05218	+0.142%	$90K	$80K	50x	as long as short
KuCoin 2ZUSDTMshort	+0.0100%	4h	0.05219	+0.153%	$170K	$60K	50x
Bitget 2ZUSDT	+0.0100%	4h	0.05220	+0.180%	$170K	$703K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05212	+0.027%	—	$6.5M	—	as long as short
Backpack 2Z_USDC_PERP	+0.0100%	1h	0.05221	+0.199%	$46K	$21K	5x	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05222	+0.214%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05220	+0.180%	$2K	$1.1M	20x	as long as short