Funding arb · Price arb /

CFG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.2334%/8h= −255.6% APRpaid last 24h −0.578%

Price spread now: Kraken Futures against Bitget+0.038%48s7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Kraken Futures is 0.038% dearer against Bitget than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$70 a day in funding at the current rate, which eats that in about 1 hour. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CFGUSDT	0.1399	0.0100	pay 0.0050% / 4h	1h 14m	$987K	$896K	20x
Short	Kraken Futures PF_CFGUSD	0.1400	−0.2234	pay 0.0279% / 1h	14m 27s	$11K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$490.24
Price spread: +0.038% → 0.000%: $3.81
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$508.43
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 37 min ago; Kraken Futures: no order-book sample. 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 Bitget live order book, 37 min ago	10.45 bp	29.4 bp −$29	170.6 bp −$1,706	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CFG on 12 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_CFGUSDshort	−0.2234%	1h	0.1400	+0.038%	$11K	$5K	10x
BloFin CFG-USDT	+0.0059%	4h	0.1399	0.000%	$204K	$34K	50x	as long as short
Aster CFGUSDT	+0.0100%	4h	0.1399	−0.018%	$11K	$64K	10x	as long as short
Binance CFGUSDT	+0.0100%	4h	0.1399	0.000%	$3.1M	$8.1M	50x	as long as short
Bybit CFGUSDT	+0.0100%	4h	0.1397	−0.143%	$2.0M	$2.0M	25x	as long as short
Gate CFG_USDT	+0.0100%	4h	0.1401	+0.172%	$556K	$351K	20x	as long as short
MEXC CFG_USDT	+0.0100%	4h	0.1398	−0.071%	$374K	$149K	20x	as long as short
KuCoin CFGUSDTM	+0.0100%	4h	0.1400	+0.071%	$432K	$139K	20x	as long as short
Bitget CFGUSDTlong	+0.0100%	4h	0.1399	long leg	$987K	$896K	20x
BingX CFG-USDT	+0.0100%	4h	0.1398	−0.071%	—	$1.7M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX CFG-USDT	+0.0100%	4h	0.1399	0.000%	$1K	$1.2M	20x	as long as short
Extended CFG-USD	+0.0104%	1h	0.1399	−0.027%	$30K	$294K	5x	as long as short