Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.005%

Price spread now: KuCoin against Kraken Futures−0.024%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.133%−$13 on $10k

Price spread, last 3 days (all we have)+0.033%+$3 · spread now −0.024%, 7d avg −0.008%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ETHUSD	2,770.8	0.0170	pay 0.0021% / 1h	29m 51s	$86.0M	$331.6M	100x
Short	KuCoin ETHUSDTM	2,770.1	0.0098	get 0.0098% / 8h	1h 29m	$424.0M	$738.3M	100x

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

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 KuCoinbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$15.1
Price spread: −0.024% → −0.008%: −$1.59
Slippage, 4 orders: −$2.05
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$40.74
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; KuCoin: live order book, 4 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, 4 min ago	0.36 bp	6.0 bp −$6	7.3 bp −$73	9.0 bp −$903	12.8 bp −$6,403
Sell KuCoin live order book, 4 min ago	0.02 bp	6.0 bp −$6	7.6 bp −$76	10.7 bp −$1,069	doesn't fit

ETH 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
Perpl ETH	−0.0447%	43m	2,768	−0.100%	$290K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0085%	1h	2,767.9	−0.103%	$5.8M	$12.1M	25x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,768.1	−0.097%	$5K	$2K	50x	as long as short
Injective ETH/USDC PERP	−0.0041%	1h	2,770.3	−0.017%	$119K	$22.5M	52x	as long as short
01 Exchange ETHUSD	−0.0040%	1h	2,768.8	−0.071%	$169K	$1.2M	50x	as long as short
Aftermath Perps ETHUSD	−0.0020%	1h	2,774.6	+0.139%	$29K	$22K	20x	as long as short
dYdX ETH-USD	0.0000%	1h	2,768.9	−0.066%	$12.7M	$45.5M	50x	as long as short
Phoenix ETH	0.0000%	1h	2,778.1	+0.264%	$886K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,770.2	−0.022%	$22.4M	—	200x	as long as short
BingX ETH-USDC	+0.0016%	8h	2,769.9	−0.033%	—	$17.4M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0020%	8h	2,771.1	+0.010%	$1.70B	$11.84B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,770	−0.028%	$12.9M	—	200x	as long as short
Phemex ETHUSDT	+0.0028%	8h	2,770.1	−0.026%	$269.4M	$68.8M	150x	as long as short
Aster ETHUSDT	+0.0032%	8h	2,770.8	+0.002%	$255.9M	$990.8M	200x	as long as short
Bullet ETH-USD	+0.0036%	1h	2,769	−0.064%	$180K	$1.7M	20x	as long as short
Binance ETHUSDT	+0.0059%	8h	2,770.6	−0.005%	$6.43B	$17.16B	150x	as long as short
MEXC ETH_USDT	+0.0060%	8h	2,770.3	−0.016%	$1.62B	$2.66B	500x	as long as short
Aevo ETH-PERP	+0.0064%	1h	2,767.9	−0.104%	$5.0M	$636K	20x	as long as short
Nado ETH-PERP	+0.0065%	1h	2,767.8	−0.108%	$14.3M	$118.0M	50x	as long as short
Gate ETH_USDT	+0.0072%	8h	2,771.2	+0.013%	$3.28B	$9.61B	200x	as long as short
Bitget ETHUSDT	+0.0072%	8h	2,771.1	+0.011%	$2.10B	$3.11B	150x	as long as short
SoDEX ETH-USD	+0.0072%	1h	2,769.4	−0.050%	$55.1M	$228.8M	40x	as long as short
Deribit ETH-PERPETUAL	+0.0075%	1h	2,771.1	+0.011%	$258.3M	$222.2M	50x	as long as short
Bybit ETHUSDT	+0.0092%	8h	2,770.8	+0.001%	$2.51B	$4.61B	150x	as long as short
HTX ETH-USDT	+0.0093%	8h	2,769.3	−0.053%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,770.3	−0.019%	$114.8M	$499.7M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,771.5	+0.025%	$25.4M	$121.2M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,767.8	−0.107%	—	$41.6M	500x	as long as short
ApeX Omni ETHUSDT	+0.0097%	1h	2,777.8	+0.252%	$8.7M	$32.5M	100x	as long as short
KuCoin ETHUSDTMshort	+0.0098%	8h	2,770.1	−0.024%	$424.0M	$738.3M	100x
Paradex ETH-USD-PERP	+0.0100%	8h	2,767.3	−0.124%	$15.9M	$10.5M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,768.6	−0.079%	$479K	$2.7M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,773.2	+0.087%	$3.18B	$2.37B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,767.9	−0.104%	$31.3M	$297.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,766.8	−0.144%	$2.8M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,769.8	−0.035%	$2.8M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,767.4	−0.121%	$166.0M	$246.7M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,770	−0.030%	$15.1M	$44.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,769.4	−0.048%	$135.0M	$322.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,777.1	+0.227%	$180.0M	$780.4M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,777	+0.225%	$161.5M	$91.0M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.2	+0.015%	$21.4M	$58.0M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,769.2	−0.057%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,770.1	−0.025%	$10.8M	$7.6M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,769.5	−0.046%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,771.7	+0.035%	$42.6M	$29.3M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,768.4	−0.086%	$971K	$14.0M	100x	as long as short
Extended ETH-USD	+0.0104%	1h	2,769.8	−0.036%	$31.4M	$74.5M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,771.2	+0.014%	$60.0M	$4.59B	50x	as long as short
Kalshi KXETHPERP	+0.0119%	8h	2,769	−0.064%	$8.6M	$676.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0136%	8h	2,772	+0.043%	$32.5M	$12.0M	100x	as long as short
Hibachi ETH/USDT-P	+0.0168%	1h	2,771.7	+0.035%	$278K	$1.5M	20x	as long as short
Kraken Futures PF_ETHUSDlong	+0.0170%	1h	2,770.8	long leg	$86.0M	$331.6M	100x
BloFin ETH-USDT	+0.0180%	8h	2,768.3	−0.091%	$283.9M	$193.9M	150x	as long as short
Reya ETHRUSDPERP	+0.0191%	1h	2,768.6	−0.077%	$7.3M	$1.2M	25x	as long as short