Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.3249%/8h= −355.8% APRpaid last 24h +0.030%

Price spread now: Kraken Futures against KuCoin−0.120%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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

Both sides work against this trade now: funding costs −$97 a day on $10k at the current rate, and Kraken Futures is 0.120% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 2ZUSDTM	0.05219	0.0100	pay 0.0050% / 4h	1h 56m	$170K	$60K	50x
Short	Kraken Futures PF_2ZUSD	0.05213	−0.3149	pay 0.0394% / 1h	56m 31s	$5K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$682.26
Price spread: −0.120% → 0.000%: −$11.97
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$716.24
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 45 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 KuCoin live order book, 45 min ago	9.20 bp	67.5 bp −$68	692.2 bp −$6,922	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 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_2ZUSDshort	−0.3149%	1h	0.05213	−0.120%	$5K	$3K	10x
MEXC 2Z_USDT	−0.0014%	4h	0.05217	−0.034%	$312K	$137K	50x	as long as short
Bybit 2ZUSDT	−0.0011%	4h	0.05217	−0.034%	$716K	$996K	50x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.576%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05223	+0.080%	$17K	$3K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05214	−0.084%	$655K	$331K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05223	+0.085%	$12K	$55K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05220	+0.023%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05216	−0.046%	$2.1M	$2.0M	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05211	−0.149%	$432K	$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	0.05221	+0.042%	$90K	$80K	50x	as long as short
KuCoin 2ZUSDTMlong	+0.0100%	4h	0.05219	long leg	$170K	$60K	50x
Bitget 2ZUSDT	+0.0100%	4h	0.05220	+0.023%	$170K	$703K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05220	+0.023%	—	$6.5M	—	as long as short
Backpack 2Z_USDC_PERP	+0.0100%	1h	0.05221	+0.042%	$46K	$21K	5x	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05222	+0.057%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05226	+0.138%	$2K	$1.1M	20x	as long as short