Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2894%/8h= +316.9% APRpaid last 24h −1.175%

Price spread now: BloFin against Kraken Futures−0.080%7-day average +0.005% · you buy dearer than you sell

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

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 3 days (all we have)+0.073%+$7 · spread now −0.080%, 7d avg +0.005%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.085% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of +0.005%). If the spread goes back, that is −$8 on $10k: about 2 hours of funding at the current rate (+$87 a day). Mind the row above: over the last 7 days funding on this pair cost −0.189%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.189% in total (about -9.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ATHUSD	0.005609	−0.2772	get 0.0346% / 1h	9m 03s	$19K	$106K	10x
Short	BloFin ATH-USDT	0.005605	0.0122	get 0.0061% / 4h	3h 09m	$172K	$69K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now −0.080%Rate

Funding earned: $607.66
Price spread: −0.080% → +0.005%: −$8.46
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $577.21
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: Kraken Futures: live order book, 63 min ago; BloFin: live order book, 55 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 Kraken Futures live order book, 63 min ago	12.61 bp	75.0 bp −$75	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 55 min ago	0.90 bp	21.2 bp −$21	71.6 bp −$716	doesn't fit	doesn't fit

ATH on 13 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_ATHUSDlong	−0.2772%	1h	0.005609	long leg	$19K	$106K	10x
Variational Omni ATH	−0.0041%	4h	0.005587	−0.399%	$187K	$93K	—	as long as short
dYdX ATH-USD	0.0000%	1h	0.005615	+0.099%	$11K	$57	5x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005620	+0.196%	$6K	$39K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005621	+0.201%	$3.4M	$3.9M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005607	−0.044%	$4.5M	$2.4M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005607	−0.044%	$719K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005608	−0.026%	$805K	$529K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005618	+0.152%	$9.1M	$585K	50x	as long as short
KuCoin ATHUSDTM	+0.0100%	4h	0.005610	+0.010%	$567K	$76K	30x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ATHUSDT	+0.0100%	4h	0.005617	+0.134%	$1.6M	$863K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005614	+0.081%	—	$21.7M	—	as long as short
BloFin ATH-USDTshort	+0.0122%	4h	0.005605	−0.080%	$172K	$69K	75x