Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.2944%/8h= +322.4% APRpaid last 24h +0.012%

Price spread now: SunX against Kraken Futures+0.136%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 SunX

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 +$88 a day on $10k at the current rate, and SunX is 0.136% dearer against Kraken Futures than usual: you sell high and buy low: +$14 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	0.05137	−0.2844	get 0.0355% / 1h	50m 39s	$5K	$3K	10x
Short	SunX 2Z-USDT	0.05144	0.0100	get 0.0050% / 4h	50m 39s	$1K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.136%Rate

Funding earned: $618.24
Price spread: +0.136% → 0.000%: $13.6
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: $613.83
Costs to cover: 0.180%
Break-even: 0.0 days

Slippage unknown: Kraken Futures: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	495.74 bp	doesn't fit	doesn't fit	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	−0.2844%	1h	0.05137	long leg	$5K	$3K	10x
Backpack 2Z_USDC_PERP	−0.0953%	1h	0.05142	+0.097%	$45K	$2K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−3.057%	$867	$213	5.5x	as long as short
MEXC 2Z_USDT	+0.0034%	4h	0.05143	+0.117%	$305K	$137K	50x	as long as short
Bybit 2ZUSDT	+0.0036%	4h	0.05148	+0.214%	$704K	$1.0M	50x	as long as short
Lighter 2Z	+0.0096%	1h	0.05145	+0.155%	$16K	$3K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05140	+0.064%	$644K	$325K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05145	+0.148%	$12K	$20K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05140	+0.058%	$74K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05147	+0.194%	$2.0M	$2.1M	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05146	+0.175%	$426K	$725K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05137	0.000%	$92K	$81K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05143	+0.120%	$165K	$63K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05145	+0.155%	$166K	$711K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05140	+0.058%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05140	+0.061%	$32K	$23K	—	as long as short
SunX 2Z-USDTshort	+0.0100%	4h	0.05144	+0.136%	$1K	$1.1M	20x