Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1338%/8h= +146.5% APRpaid last 24h +0.267%

Price spread now: OKX against Kraken Futures+0.084%45s7-day average −0.171% · you sell dearer than you buy

Net, funding: paid 7d − costs+$21as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1201.204% of the position

Long on Kraken Futures Short on OKX

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)+0.236%+$24 · spread now +0.084%, 7d avg −0.171%

Together, before fees+1.647%+$165 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 OKX is 0.254% dearer against Kraken Futures than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.171%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARUSD	4.3584	−0.1238	get 0.0155% / 1h	59m 33s	$59K	$143K	20x
Short	OKX AR-USDT-SWAP	4.3620	0.0100	get 0.0100% / 8h	2h 59m	$2.2M	$17.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.084%Rate

Funding earned: $280.93
Price spread: +0.084% → −0.171%: $25.41
Slippage, 4 orders: −$100.41
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $185.93
Costs to cover: 1.204%
Break-even: 2.4 days

Slippage from Kraken Futures: live order book, 53 min ago; OKX: live order book, 4 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, 53 min ago	30.48 bp	40.0 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	2.29 bp	21.5 bp −$22	112.1 bp −$1,121	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_ARUSDlong	−0.1238%	1h	4.3584	long leg	$59K	$143K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.3610	+0.061%	$561K	—	50x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3618	+0.080%	$30K	$458K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3622	+0.088%	$8.5M	$50.4M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3620	+0.084%	$4.4M	$8.5M	75x	as long as short
OKX AR-USDT-SWAPshort	+0.0100%	8h	4.3620	+0.084%	$2.2M	$17.2M	20x
Gate AR_USDT	+0.0100%	8h	4.3610	+0.061%	$2.4M	$1.8M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.3610	+0.061%	$6.0M	$4.1M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.3590	+0.015%	$1.1M	$1.3M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.3580	−0.008%	$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	4.3590	+0.015%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3527	−0.129%	$241K	$424K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3550	−0.077%	$19K	$710K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3599	+0.036%	$36K	$248K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3590	+0.015%	$413K	$469K	20x	as long as short
Hyperliquid AR	+0.0349%	1h	4.3652	+0.157%	$3.7M	$4.4M	5x	as long as short
Injective AR/USDC PERP	+0.0433%	1h	4.4240	+1.506%	$2K	$5K	5.5x	as long as short