Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1404%/8h= −153.7% APRpaid last 24h −0.307%

Price spread now: Binance against Kraken Futures−0.072%7-day average +0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1751.749% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 4 days (all we have)+0.466%+$47 · spread now −0.072%, 7d avg +0.074%

Together, before fees+0.300%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$42 a day on $10k at the current rate, and Binance is 0.146% cheaper against Kraken Futures than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.074%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.166% in total (about -8.7% 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_BRETTUSD	0.005820	0.1504	pay 0.0188% / 1h	57m 24s	$39K	$105K	10x
Short	Binance BRETTUSDT	0.005815	0.0100	get 0.0050% / 4h	3h 57m	$1.2M	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.072%Rate

Funding earned: −$294.83
Price spread: −0.072% → +0.074%: −$14.63
Slippage, 4 orders: −$154.9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$484.36
Costs to cover: 1.749%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 11 min ago; Binance: live order book, 8 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 Kraken Futures live order book, 11 min ago	42.98 bp	48.0 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	4.30 bp	35.5 bp −$35	128.7 bp −$1,287	doesn't fit	doesn't fit

BRETT on 14 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
GMX BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005797	−0.387%	—	—	100x	as long as short
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	+0.334%	$61	$854	5.5x	as long as short
BloFin BRETT-USDT	+0.0070%	4h	0.005805	−0.250%	$57K	$205K	50x	as long as short
Hyperliquid BRETT	+0.0100%	1h	0.005823	+0.059%	$315K	$290K	3x	as long as short
Binance BRETTUSDTshort	+0.0100%	4h	0.005815	−0.072%	$1.2M	$3.0M	50x
Bybit BRETTUSDT	+0.0100%	4h	0.005803	−0.284%	$2.1M	$2.3M	25x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005808	−0.198%	$421K	$106K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005817	−0.044%	$12.3M	$233K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005813	−0.112%	$280K	$118K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005804	−0.267%	$1.4M	$607K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BRETT	+0.0100%	4h	0.005796	−0.401%	$43K	$105K	—	as long as short
OKX BRETT-USDT-SWAP	+0.0519%	4h	0.005821	+0.025%	$148K	$411K	10x	as long as short
BingX BRETT-USDT	+0.0528%	4h	0.005810	−0.164%	—	$1.4M	—	as long as short
Kraken Futures PF_BRETTUSDlong	+0.1504%	1h	0.005820	long leg	$39K	$105K	10x