Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2483%/8h= +271.9% APRpaid last 24h −1.045%

Price spread now: KuCoin against Kraken Futures+0.074%52s7-day average −0.103% · you sell dearer than you buy

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

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.112%−$11 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.074%, 7d avg −0.103%

Together, before fees−0.120%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$74 a day on $10k at the current rate, and KuCoin is 0.176% dearer against Kraken Futures than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.103%. Mind the row above: over the last 7 days funding on this pair cost −0.112%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.112% in total (about -5.8% 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	0.005489	−0.2383	get 0.0298% / 1h	5m 21s	$17K	$109K	10x
Short	KuCoin ATHUSDTM	0.005493	0.0100	get 0.0050% / 4h	1h 05m	$553K	$80K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.074%Rate

Funding earned: $521.42
Price spread: +0.074% → −0.103%: $17.64
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $517.06
Costs to cover: 0.220%
Break-even: 0.1 days

Slippage unknown: Kraken Futures: live order book, 37 min ago; KuCoin: live order book, 39 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, 37 min ago	23.68 bp	70.8 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 39 min ago	15.50 bp	124.0 bp −$124	doesn't fit	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	−0.2383%	1h	0.005489	long leg	$17K	$109K	10x
Variational Omni ATH	−0.0100%	4h	0.005492	+0.047%	$184K	$93K	—	as long as short
dYdX ATH-USD	0.0000%	1h	0.005510	+0.386%	$11K	$59	5x	as long as short
BloFin ATH-USDT	+0.0078%	4h	0.005504	+0.274%	$163K	$71K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005499	+0.176%	$5K	$41K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005502	+0.238%	$3.3M	$4.3M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005489	+0.001%	$4.3M	$2.7M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005492	+0.056%	$706K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005489	+0.001%	$786K	$617K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005501	+0.219%	$8.9M	$677K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTMshort	+0.0100%	4h	0.005493	+0.074%	$553K	$80K	30x
Bitget ATHUSDT	+0.0100%	4h	0.005496	+0.128%	$1.5M	$909K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005495	+0.110%	—	$21.3M	—	as long as short