Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0129%/8h= −14.1% APRpaid last 24h +0.036%

Price spread now: Kraken Futures against Orderly+0.025%7-day average +0.054% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.025%, 7d avg +0.054%

Together, before fees+0.149%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Kraken Futures is 0.029% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.054%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.108%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ARB_USDC	0.2219	−0.0037	get 0.0037% / 8h	7h 14m	$16K	$413K	10x
Short	Kraken Futures PF_ARBUSD	0.2220	−0.0166	pay 0.0021% / 1h	14m 12s	$1.1M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Orderly. 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 OrderlybpFee Kraken FuturesbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$27.12
Price spread: +0.025% → +0.054%: −$2.93
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$46.05
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 5 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 5 min ago	7.44 bp	14.6 bp −$15	31.7 bp −$317	432.8 bp −$43.3K	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1605%	1h	0.2213	−0.270%	$40K	$372K	12x	as long as short
Phemex ARBUSDT	−0.0228%	8h	0.2219	0.000%	$4.9M	$12.7M	50x	as long as short
Kraken Futures PF_ARBUSDshort	−0.0166%	1h	0.2220	+0.025%	$1.1M	$4.3M	50x
SoDEX ARB-USD	−0.0164%	1h	0.2219	−0.014%	$9K	$2.3M	5x	as long as short
OKX ARB-USDT-SWAP	−0.0106%	8h	0.2217	−0.090%	$22.5M	$147.3M	50x	as long as short
MEXC ARB_USDT	−0.0104%	8h	0.2217	−0.081%	$44.6M	$63.9M	200x	as long as short
01 Exchange ARBUSD	−0.0064%	1h	0.2217	−0.086%	$7K	$458	10x	as long as short
Gate ARB_USDT	−0.0053%	8h	0.2218	−0.041%	$5.5M	$18.4M	60x	as long as short
Orderly PERP_ARB_USDClong	−0.0037%	8h	0.2219	long leg	$16K	$413K	10x
Bybit ARBUSDT	−0.0012%	8h	0.2218	−0.068%	$54.3M	$125.0M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2219	−0.006%	$65K	$4K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2220	+0.027%	$28K	$38K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2219	+0.022%	$74K	—	150x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2218	−0.054%	$366K	$3.0M	25x	as long as short
Binance ARBUSDT	+0.0010%	8h	0.2218	−0.036%	$64.0M	$298.8M	75x	as long as short
Variational Omni ARB	+0.0026%	8h	0.2217	−0.075%	$1.8M	$3.0M	—	as long as short
BloFin ARB-USDT	+0.0040%	8h	0.2220	+0.050%	$3.0M	$2.4M	75x	as long as short
Bitget ARBUSDT	+0.0054%	8h	0.2218	−0.045%	$21.3M	$34.6M	50x	as long as short
BingX ARB-USDT	+0.0058%	8h	0.2218	−0.054%	—	$32.7M	—	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2219	+0.009%	$141K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2220	+0.054%	$1.3M	$5.6M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2220	+0.068%	$36.1M	$51.9M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2221	+0.068%	$634K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2220	+0.023%	$44K	$147K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2220	+0.036%	$19.3M	$13.9M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2221	+0.103%	$40K	$468K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2215	−0.179%	$477K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2223	+0.180%	$120K	$290K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2218	−0.036%	$74K	$2.0M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2221	+0.090%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2219	0.000%	$298K	$827K	50x	as long as short
RISEx ARB/USDC	+0.0123%	1h	0.2220	+0.039%	$540K	$2.6M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0159%	1h	0.2218	−0.030%	$839K	—	150x	as long as short
Backpack ARB_USDC_PERP	+0.0276%	1h	0.2221	+0.104%	$992K	$2.8M	20x	as long as short
Reya ARBRUSDPERP	+0.0288%	1h	0.2217	−0.087%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0336%	1h	0.2229	+0.437%	$532K	$1.6M	50x	as long as short