Funding arb · Price arb /

AR

all AR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1787%/8h= −195.7% APRpaid last 24h −0.396%

Price spread now: Kraken Futures against Bitget+0.427%7-day average +0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs−$297as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1411.411% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.559%−$156 on $10k

Price spread, last 3 days (all we have)−0.559%−$56 · spread now +0.427%, 7d avg +0.166%

Together, before fees−2.117%−$212 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.261% dearer against Bitget than usual: you sell high and buy low (spread +0.427% now, against its 7-day average of +0.166%): +$26 on $10k if it goes back. Holding the pair costs −$54 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−1.559% in total) that is about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ARUSDT	4.5210	0.0100	pay 0.0100% / 8h	6h 30m	$3.9M	$5.4M	75x
Short	Kraken Futures PF_ARUSD	4.5403	−0.1687	pay 0.0211% / 1h	30m 54s	$56K	$150K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.427%Rate

Funding earned: −$375.35
Price spread: +0.427% → +0.166%: $26.11
Slippage, 4 orders: −$119.07
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$490.31
Costs to cover: 1.411%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Kraken Futures: live order book, 36 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 Bitget live order book, 2 min ago	2.22 bp	21.6 bp −$22	78.3 bp −$783	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 36 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	−0.1687%	1h	4.5403	+0.427%	$56K	$150K	20x
Injective AR/USDC PERP	−0.0353%	1h	4.6110	+1.991%	$2K	$2K	5.5x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5230	+0.045%	$581K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0128%	8h	4.5280	+0.155%	$2.3M	$19.4M	20x	as long as short
Extended AR-USD	+0.0032%	1h	4.5268	+0.129%	$37K	$238K	10x	as long as short
MEXC AR_USDT	+0.0032%	8h	4.5270	+0.133%	$6.4M	$4.3M	100x	as long as short
Binance ARUSDT	+0.0035%	8h	4.5293	+0.184%	$9.0M	$53.0M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5310	+0.221%	$4.1M	$4.7M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5258	+0.105%	$26K	$493K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5280	+0.155%	$4.5M	$8.4M	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	4.5240	+0.066%	$2.5M	$2.1M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5250	+0.088%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDTlong	+0.0100%	8h	4.5210	long leg	$3.9M	$5.4M	75x
BingX AR-USDT	+0.0100%	8h	4.5300	+0.199%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5183	−0.060%	$141K	$165K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4900	−0.686%	$20K	$742K	50x	as long as short