Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1106%/8h= −121.1% APRpaid last 24h −0.381%

Price spread now: Kraken Futures against Gate−0.250%7-day average +0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs−$367as in the Funding arb table

Net, price: spread back to 7d avg − costs−$259as in the Price arb table

costs, in and out, $10k−$2232.225% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.446%−$145 on $10k

Price spread, last 4 days (all we have)−1.249%−$125 · spread now −0.250%, 7d avg +0.112%

Together, before fees−2.695%−$270 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Kraken Futures is 0.363% cheaper against Gate than usual: you would sell low and buy high (−$36 if the spread goes back to its 7-day average of +0.112%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AR_USDT	4.3000	0.0100	pay 0.0100% / 8h	7h 39m	$2.0M	$3.1M	50x
Short	Kraken Futures PF_ARUSD	4.2892	−0.1006	pay 0.0126% / 1h	39m 38s	$53K	$135K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.250%Rate

Funding earned: −$232.32
Price spread: −0.250% → +0.112%: −$36.27
Slippage, 4 orders: −$197.52
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$491.11
Costs to cover: 2.225%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Kraken Futures: live order book, 58 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 Gate live order book, 3 min ago	3.49 bp	49.0 bp −$49	503.5 bp −$5,035	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 58 min ago	38.76 bp	68.0 bp −$68	doesn't fit	doesn't fit	doesn't fit

AR on 17 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	−0.1006%	1h	4.2892	−0.250%	$53K	$135K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.3027	+0.062%	$554K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+2.884%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.3114	+0.265%	$3.9M	$4.4M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3031	+0.072%	$32K	$255K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3050	+0.116%	$8.5M	$44.3M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3080	+0.186%	$4.5M	$8.3M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3050	+0.116%	$2.3M	$14.3M	20x	as long as short
Gate AR_USDTlong	+0.0100%	8h	4.3000	long leg	$2.0M	$3.1M	50x
MEXC AR_USDT	+0.0100%	8h	4.3050	+0.116%	$6.1M	$3.7M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.3040	+0.093%	$1.1M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.3020	+0.047%	$3.7M	$4.9M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.3070	+0.163%	—	$2.7M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3038	+0.088%	$247K	$513K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3080	+0.186%	$20K	$706K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3038	+0.089%	$36K	$244K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3060	+0.140%	$414K	$443K	20x	as long as short