Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.029%

Price spread now: Kraken Futures against OKX−0.187%55s7-day average +0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as 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−$550.551% 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+0.034%+$3 on $10k

Price spread, last 4 days (all we have)+1.005%+$101 · spread now −0.187%, 7d avg +0.113%

Together, before fees+1.039%+$104 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.299% cheaper against OKX than usual: you would sell low and buy high (spread −0.187% now, against its 7-day average of +0.113%). If the spread goes back, that is −$30 on $10k: about 23 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.034% in total) that is about 2 months. The two prices were read 55 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	OKX ARB-USDT-SWAP	0.2182	−0.0095	get 0.0095% / 8h	3h 01m	$21.8M	$142.2M	50x
Short	Kraken Futures PF_ARBUSD	0.2178	−0.0051	pay 0.0006% / 1h	1m 22s	$1.0M	$4.4M	50x

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 −0.187%Rate

Funding earned: $9.26
Price spread: −0.187% → +0.113%: −$29.93
Slippage, 4 orders: −$35.14
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$75.81
Costs to cover: 0.551%
Break-even: 64.3 days

Slippage from OKX: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	0.23 bp	9.6 bp −$10	27.8 bp −$278	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	6.43 bp	18.8 bp −$19	31.0 bp −$310	567.3 bp −$56.7K	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1589%	1h	0.2172	−0.463%	$39K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0186%	1h	0.2181	−0.050%	$71K	$2.1M	10x	as long as short
MEXC ARB_USDT	−0.0097%	8h	0.2183	+0.023%	$41.1M	$61.1M	200x	as long as short
OKX ARB-USDT-SWAPlong	−0.0095%	8h	0.2182	long leg	$21.8M	$142.2M	50x
Variational Omni ARB	−0.0090%	8h	0.2173	−0.396%	$1.7M	$3.0M	—	as long as short
Orderly PERP_ARB_USDC	−0.0061%	8h	0.2183	+0.041%	$12K	$407K	10x	as long as short
Bybit ARBUSDT	−0.0057%	8h	0.2181	−0.041%	$54.5M	$123.6M	50x	as long as short
Kraken Futures PF_ARBUSDshort	−0.0051%	1h	0.2178	−0.187%	$1.0M	$4.4M	50x
01 Exchange ARBUSD	−0.0040%	1h	0.2180	−0.115%	$7K	$1K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2179	−0.151%	$64K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2177	−0.215%	$24K	$31K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2183	+0.034%	$44K	—	150x	as long as short
Gate ARB_USDT	+0.0008%	8h	0.2182	+0.014%	$5.3M	$18.3M	60x	as long as short
Bitget ARBUSDT	+0.0050%	8h	0.2182	−0.005%	$20.8M	$34.1M	50x	as long as short
Extended ARB-USD	+0.0064%	1h	0.2179	−0.152%	$348K	$2.8M	25x	as long as short
BingX ARB-USDT	+0.0064%	8h	0.2182	−0.018%	—	$53.7M	—	as long as short
Binance ARBUSDT	+0.0067%	8h	0.2182	+0.011%	$62.8M	$300.4M	75x	as long as short
Lighter ARB	+0.0096%	1h	0.2177	−0.234%	$1.2M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2184	+0.087%	$139K	$7K	3x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2183	+0.027%	$36.9M	$48.8M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2182	−0.018%	$628K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2178	−0.174%	$42K	$160K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2182	−0.014%	$19.5M	$14.5M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2178	−0.204%	$38K	$464K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2176	−0.280%	$472K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2178	−0.188%	$117K	$283K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2179	−0.142%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2177	−0.257%	$10K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2177	−0.234%	$294K	$880K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2177	−0.234%	$4.9M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0118%	1h	0.2181	−0.071%	$440K	$2.6M	10x	as long as short
BloFin ARB-USDT	+0.0187%	8h	0.2176	−0.261%	$3.1M	$2.5M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0256%	1h	0.2180	−0.096%	$499K	$1.6M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0277% / S −0.0160%	1h	0.2183	+0.019%	$829K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2181	−0.056%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0578%	1h	0.2179	−0.124%	$978K	$2.8M	20x	as long as short