Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1720%/8h= −188.3% APRpaid last 24h −0.376%

Price spread now: Kraken Futures against Binance+0.241%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$286as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1391.386% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.471%−$147 on $10k

Price spread, last 3 days (all we have)−0.426%−$43 · spread now +0.241%, 7d avg +0.098%

Together, before fees−1.897%−$190 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.143% dearer against Binance than usual: you sell high and buy low (spread +0.241% now, against its 7-day average of +0.098%): +$14 on $10k if it goes back. Holding the pair costs −$52 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−1.471% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ARUSDT	4.5515	0.0041	pay 0.0041% / 8h	6h 27m	$9.0M	$53.1M	75x
Short	Kraken Futures PF_ARUSD	4.5625	−0.1679	pay 0.0210% / 1h	27m 59s	$56K	$150K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.241%Rate

Funding earned: −$361.19
Price spread: +0.241% → +0.098%: $14.32
Slippage, 4 orders: −$118.59
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$485.46
Costs to cover: 1.386%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Kraken Futures: live order book, 39 min ago.

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 Binance live order book, 14 min ago	1.11 bp	15.4 bp −$15	51.7 bp −$517	435.0 bp −$43.5K	doesn't fit
Sell Kraken Futures live order book, 39 min ago	42.15 bp	54.4 bp −$54	doesn't fit	doesn't fit	doesn't fit

AR on 16 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
Kraken Futures PF_ARUSDshort	−0.1679%	1h	4.5625	+0.241%	$56K	$150K	20x
Injective AR/USDC PERP	−0.0353%	1h	4.6110	+1.307%	$2K	$2K	5.5x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5577	+0.137%	$586K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0121%	8h	4.5490	−0.055%	$2.3M	$19.5M	20x	as long as short
MEXC AR_USDT	+0.0038%	8h	4.5480	−0.077%	$6.5M	$4.3M	100x	as long as short
Extended AR-USD	+0.0040%	1h	4.5504	−0.025%	$37K	$238K	10x	as long as short
Binance ARUSDTlong	+0.0041%	8h	4.5515	long leg	$9.0M	$53.1M	75x
Hyperliquid AR	+0.0100%	1h	4.5612	+0.213%	$4.1M	$4.7M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5564	+0.107%	$26K	$495K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5500	−0.033%	$4.6M	$8.5M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5560	+0.099%	$2.6M	$2.1M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5530	+0.033%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5470	−0.099%	$3.9M	$5.4M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5520	+0.011%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5183	−0.729%	$141K	$165K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5260	−0.560%	$20K	$741K	50x	as long as short