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 −0.369%

Price spread now: Kraken Futures against MEXC−0.185%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$264as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1181.180% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.457%−$146 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.185%, 7d avg +0.064%

Together, before fees−1.487%−$149 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 0.249% cheaper against MEXC than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.064%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AR_USDT	4.2970	0.0100	pay 0.0100% / 8h	7h 52m	$6.0M	$3.7M	100x
Short	Kraken Futures PF_ARUSD	4.2890	−0.1006	pay 0.0126% / 1h	52m 37s	$53K	$135K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.185%Rate

Funding earned: −$232.33
Price spread: −0.185% → +0.064%: −$24.9
Slippage, 4 orders: −$104.03
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$375.26
Costs to cover: 1.180%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Kraken Futures: live order book, 45 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 MEXC live order book, 5 min ago	1.16 bp	3.2 bp −$3	20.9 bp −$209	216.0 bp −$21.6K	doesn't fit
Sell Kraken Futures live order book, 45 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	4.2890	−0.185%	$53K	$135K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2944	−0.061%	$551K	—	50x	as long as short
Gate AR_USDT	−0.0015%	8h	4.2900	−0.163%	$2.0M	$3.0M	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+2.956%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.3024	+0.126%	$3.9M	$4.4M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2947	−0.054%	$32K	$255K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2980	+0.023%	$8.6M	$45.1M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2980	+0.023%	$4.4M	$8.3M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2960	−0.023%	$2.3M	$14.6M	20x	as long as short
MEXC AR_USDTlong	+0.0100%	8h	4.2970	long leg	$6.0M	$3.7M	100x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.2930	−0.093%	$1.1M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.2940	−0.070%	$3.7M	$4.9M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2990	+0.047%	—	$2.7M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2963	−0.016%	$247K	$513K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.2870	−0.233%	$20K	$708K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.2968	−0.004%	$36K	$244K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2940	−0.070%	$416K	$445K	20x	as long as short