Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.2006%/8h= −219.6% APRpaid last 24h −0.374%

Price spread now: Kraken Futures against KuCoin−0.084%52s7-day average +0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs−$439as 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−$2862.855% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.535%−$153 on $10k

Price spread, last 3 days (all we have)−0.264%−$26 · spread now −0.084%, 7d avg +0.123%

Together, before fees−1.799%−$180 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$60 a day on $10k at the current rate, and Kraken Futures is 0.207% cheaper against KuCoin than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.123%). Swap the legs. The two prices were read 52 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	KuCoin ARUSDTM	4.5440	0.0100	pay 0.0100% / 8h	1h 20m	$1.4M	$1.1M	50x
Short	Kraken Futures PF_ARUSD	4.5402	−0.1906	pay 0.0238% / 1h	20m 22s	$47K	$156K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$421.2
Price spread: −0.084% → +0.123%: −$20.72
Slippage, 4 orders: −$263.52
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$727.43
Costs to cover: 2.855%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Kraken Futures: live order book, 62 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 KuCoin live order book, 5 min ago	5.53 bp	85.8 bp −$86	653.4 bp −$6,534	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 62 min ago	32.26 bp	46.3 bp −$46	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	−0.1906%	1h	4.5402	−0.084%	$47K	$156K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5465	+0.056%	$583K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+0.616%	$3K	$339	5.5x	as long as short
OKX AR-USDT-SWAP	+0.0048%	8h	4.5400	−0.088%	$2.3M	$20.7M	20x	as long as short
Extended AR-USD	+0.0080%	1h	4.5371	−0.151%	$37K	$237K	10x	as long as short
MEXC AR_USDT	+0.0082%	8h	4.5440	0.000%	$6.8M	$4.6M	100x	as long as short
Binance ARUSDT	+0.0082%	8h	4.5440	0.000%	$8.9M	$55.7M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5526	+0.189%	$3.9M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5400	−0.088%	$20K	$615K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5420	−0.044%	$4.7M	$8.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5450	+0.022%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTMlong	+0.0100%	8h	4.5440	long leg	$1.4M	$1.1M	50x
Bitget ARUSDT	+0.0100%	8h	4.5400	−0.088%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5410	−0.066%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5084	−0.783%	$137K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5120	−0.704%	$57K	$748K	50x	as long as short
BloFin AR-USDT	+0.0202%	8h	4.5320	−0.264%	$420K	$672K	20x	as long as short