Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1334%/8h= +146.1% APRpaid last 24h +0.292%

Price spread now: Binance against Kraken Futures+0.062%7-day average −0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs+$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$1061.056% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+1.411%+$141 on $10k

Price spread, last 4 days (all we have)+0.375%+$37 · spread now +0.062%, 7d avg −0.088%

Together, before fees+1.785%+$179 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and Binance is 0.150% dearer against Kraken Futures than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARUSD	4.3711	−0.1234	get 0.0154% / 1h	10m 30s	$59K	$143K	20x
Short	Binance ARUSDT	4.3738	0.0100	get 0.0100% / 8h	3h 10m	$8.6M	$50.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.062%Rate

Funding earned: $280.18
Price spread: +0.062% → −0.088%: $15.01
Slippage, 4 orders: −$85.57
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $189.61
Costs to cover: 1.056%
Break-even: 2.3 days

Slippage from Kraken Futures: live order book, 42 min ago; Binance: live order book, 2 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 Kraken Futures live order book, 42 min ago	30.48 bp	40.0 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.14 bp	14.9 bp −$15	47.4 bp −$474	305.4 bp −$30.5K	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_ARUSDlong	−0.1234%	1h	4.3711	long leg	$59K	$143K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.3749	+0.088%	$563K	—	50x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3760	+0.112%	$30K	$467K	10x	as long as short
Binance ARUSDTshort	+0.0100%	8h	4.3738	+0.062%	$8.6M	$50.3M	75x
Bybit ARUSDT	+0.0100%	8h	4.3723	+0.028%	$4.4M	$8.5M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3710	−0.002%	$2.2M	$17.3M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.3750	+0.090%	$2.4M	$1.9M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.3740	+0.067%	$6.0M	$4.2M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.3710	−0.002%	$1.1M	$1.3M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.3710	−0.002%	$3.8M	$5.2M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AR-USDT	+0.0100%	8h	4.3740	+0.067%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3717	+0.014%	$232K	$414K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3870	+0.364%	$19K	$712K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3740	+0.067%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3830	+0.273%	$416K	$471K	20x	as long as short
Hyperliquid AR	+0.0261%	1h	4.3813	+0.234%	$3.7M	$4.4M	5x	as long as short
Injective AR/USDC PERP	+0.0433%	1h	4.4240	+1.211%	$2K	$5K	5.5x	as long as short