Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.2014%/8h= +220.6% APRpaid last 24h −0.351%

Price spread now: Kraken Futures against OKX+0.285%7-day average +0.180% · you sell dearer than you buy

Net, funding: paid 7d − costs−$303as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1561.557% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.476%−$148 on $10k

Price spread, last 4 days (all we have)−1.868%−$187 · spread now +0.285%, 7d avg +0.180%

Together, before fees−3.344%−$334 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$60 a day on $10k at the current rate, and Kraken Futures is 0.105% dearer against OKX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.180%. Mind the row above: over the last 7 days funding on this pair cost −1.476%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AR-USDT-SWAP	4.5230	−0.0087	get 0.0087% / 8h	5h 34m	$2.3M	$18.8M	20x
Short	Kraken Futures PF_ARUSD	4.5359	0.1927	get 0.0241% / 1h	34m 23s	$56K	$149K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.285%Rate

Funding earned: $423.04
Price spread: +0.285% → +0.180%: $10.52
Slippage, 4 orders: −$135.68
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $277.89
Costs to cover: 1.557%
Break-even: 2.4 days

Slippage from OKX: live order book, 4 min ago; Kraken Futures: live order book, 28 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 OKX live order book, 4 min ago	3.32 bp	21.0 bp −$21	229.7 bp −$2,297	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 28 min ago	28.49 bp	46.1 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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5242	+0.026%	$581K	—	50x	as long as short
OKX AR-USDT-SWAPlong	−0.0087%	8h	4.5230	long leg	$2.3M	$18.8M	20x
Injective AR/USDC PERP	+0.0033%	1h	4.5290	+0.133%	$548	$3K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5314	+0.186%	$4.1M	$4.5M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5272	+0.092%	$19K	$500K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.5270	+0.088%	$9.0M	$51.5M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5240	+0.022%	$4.7M	$8.4M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.5240	+0.022%	$2.5M	$2.0M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.5250	+0.044%	$6.5M	$4.3M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5210	−0.044%	$1.2M	$1.2M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.5200	−0.066%	$3.9M	$5.3M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5230	0.000%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5276	+0.102%	$235K	$256K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5300	+0.155%	$20K	$725K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.5247	+0.038%	$37K	$239K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.5250	+0.044%	$433K	$496K	20x	as long as short
Kraken Futures PF_ARUSDshort	+0.1927%	1h	4.5359	+0.285%	$56K	$149K	20x