Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0116%/8h= +12.8% APRpaid last 24h +0.009%

Price spread now: Kraken Futures against KuCoin+0.123%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 3 days (all we have)−0.107%−$11 · spread now +0.123%, 7d avg +0.021%

Together, before fees−0.043%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.103% dearer against KuCoin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XBTUSDTM	85,460.1	0.0022	pay 0.0022% / 8h	5h 57m	$900.6M	$747.9M	125x
Short	Kraken Futures PF_XBTUSD	85,565.4	0.0138	get 0.0017% / 1h	57m 30s	$187.0M	$951.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.123%Rate

Funding earned: $24.46
Price spread: +0.123% → +0.021%: $10.25
Slippage, 4 orders: −$0.64
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $12.08
Costs to cover: 0.226%
Break-even: 3.5 days

Slippage from KuCoin: live order book, 7 min ago; Kraken Futures: live order book, 2 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 KuCoin live order book, 7 min ago	0.01 bp	6.0 bp −$6	6.2 bp −$62	7.7 bp −$771	doesn't fit
Sell Kraken Futures live order book, 2 min ago	0.06 bp	5.1 bp −$5	6.2 bp −$62	7.8 bp −$781	9.7 bp −$4,835

BTC on 55 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
Phoenix BTC	−0.0144%	1h	85,498	+0.044%	$2.1M	$10.1M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,608	+0.173%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,462.3	+0.003%	$363K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,531.5	+0.084%	$16.7M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,553.5	+0.109%	$36.6M	—	200x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,467.4	+0.009%	$515.2M	$1.12B	200x	as long as short
Nado BTC-PERP	+0.0019%	1h	85,477.1	+0.020%	$22.5M	$224.4M	50x	as long as short
KuCoin XBTUSDTMlong	+0.0022%	8h	85,460.1	long leg	$900.6M	$747.9M	125x
SoDEX BTC-USD	+0.0046%	1h	85,539	+0.092%	$59.9M	$336.4M	40x	as long as short
BingX BTC-USDT	+0.0055%	8h	85,471	+0.013%	—	$1.54B	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX BTC-USDT	+0.0056%	8h	85,525.1	+0.076%	$2.27B	$932.8M	200x	as long as short
Reya BTCRUSDPERP	+0.0063%	1h	85,457.5	−0.003%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,460.8	+0.001%	$2.94B	$5.01B	150x	as long as short
Popdex BTCUSDT	+0.0072%	1h	85,463	+0.003%	$8.3M	$51.5M	100x	as long as short
SunX BTC-USDT	+0.0075%	8h	85,568.6	+0.127%	$2.9M	$6.5M	100x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,617	+0.184%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,560.2	+0.117%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0085%	8h	85,464.1	+0.005%	$9.32B	$23.90B	150x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,467.2	+0.008%	$5.07B	$5.57B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,481.2	+0.025%	$169.4M	$981.6M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,486.8	+0.031%	$23.9M	$146.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,513.3	+0.062%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,440	−0.023%	$204K	$7.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,543	+0.097%	$3.76B	$4.92B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,512	+0.061%	$40.1M	$571.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,474.5	+0.017%	$5.32B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,472	+0.014%	$2.55B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,473	+0.015%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,446	−0.016%	$7.1M	$96.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,476.4	+0.019%	$5.57B	$10.37B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,509.1	+0.057%	$34.9M	$168.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,545	+0.099%	$154.0M	$554.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,553.1	+0.109%	$278.3M	$939.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,581.5	+0.142%	$214.8M	$161.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,594.5	+0.157%	$139.9M	$316.3M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,539.1	+0.093%	$30.2M	$211.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,538.5	+0.092%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,464	+0.005%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,544.7	+0.099%	$187K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,539.3	+0.093%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,555.4	+0.112%	$197K	$722K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,540.6	+0.094%	$30.0M	$52.7M	15x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,532.2	+0.084%	$149.7M	$478.8M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,593.2	+0.156%	$605.0M	$283.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,442.6	−0.020%	$44.2M	$227.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,604.3	+0.169%	—	$101.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,582	+0.143%	$130.4M	$5.07B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,498	+0.044%	$8.4M	$42.1M	25x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0138%	1h	85,565.4	+0.123%	$187.0M	$951.6M	100x
Deribit BTC-PERPETUAL	+0.0163%	1h	85,587.3	+0.149%	$894.8M	$1.52B	50x	as long as short
Aftermath Perps BTCUSD	+0.0186%	1h	85,599.4	+0.163%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0192%	1h	85,616.2	+0.183%	$683K	$7.8M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0186%	1h	85,553.1	+0.109%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0212%	8h	85,595	+0.158%	$10.3M	$765.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,602.2	+0.166%	$510K	$19.7M	6.7x	as long as short