Funding arb · Price arb /

ATH

all ATH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2034%/8h= +222.7% APRpaid last 24h −1.073%

Price spread now: MEXC against Kraken Futures+0.198%7-day average −0.049% · you sell dearer than you buy

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

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)−0.144%−$14 · spread now +0.198%, 7d avg −0.049%

Together, before fees−0.263%−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$61 a day on $10k at the current rate, and MEXC is 0.247% dearer against Kraken Futures than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.049%. Mind the row above: over the last 7 days funding on this pair cost −0.119%, 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 -0.119% in total (about -6.2% 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	0.005476	−0.1934	get 0.0242% / 1h	54m 41s	$19K	$106K	10x
Short	MEXC ATH_USDT	0.005487	0.0100	get 0.0050% / 4h	2h 54m	$8.9M	$644K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. 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 Kraken FuturesbpFee MEXCbpOrdersPrice spread, now +0.198%Rate

Funding earned: $427.18
Price spread: +0.198% → −0.049%: $24.68
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 4 bp × 2 orders: −$8
Net: $433.86
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 57 min ago; MEXC: live order book, 3 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, 57 min ago	19.01 bp	813.2 bp −$813	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	4.55 bp	31.1 bp −$31	94.1 bp −$941	167.4 bp −$16.7K	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	−0.1934%	1h	0.005476	long leg	$19K	$106K	10x
Variational Omni ATH	−0.0157%	4h	0.005485	+0.153%	$184K	$93K	—	as long as short
dYdX ATH-USD	0.0000%	1h	0.005481	+0.090%	$11K	$59	5x	as long as short
BloFin ATH-USDT	+0.0058%	4h	0.005472	−0.076%	$165K	$67K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005486	+0.177%	$5K	$40K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005484	+0.148%	$3.3M	$4.3M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005472	−0.076%	$4.3M	$2.6M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005476	−0.003%	$707K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005477	+0.015%	$784K	$596K	30x	as long as short
MEXC ATH_USDTshort	+0.0100%	4h	0.005487	+0.198%	$8.9M	$644K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005486	+0.180%	$551K	$79K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005477	+0.015%	$1.5M	$918K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005475	−0.021%	—	$21.4M	—	as long as short