Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0892%/8h= −97.7% APRpaid last 24h −0.032%

Price spread now: Kraken Futures against BloFin+0.166%57s7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.533% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.322%−$32 on $10k

Price spread, last 3 days (all we have)−0.091%−$9 · spread now +0.166%, 7d avg +0.026%

Together, before fees−0.413%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.140% dearer against BloFin than usual: you sell high and buy low (spread +0.166% now, against its 7-day average of +0.026%): +$14 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.322% in total) that is about 3.0 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.322% in total (about -16.8% 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	BloFin FIL-USDT	0.9896	0.0200	pay 0.0200% / 8h	1h 20m	$2.7M	$657K	75x
Short	Kraken Futures PF_FILUSD	0.9912	−0.0693	pay 0.0087% / 1h	20m 14s	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.166%Rate

Funding earned: −$187.38
Price spread: +0.166% → +0.026%: $14.01
Slippage, 4 orders: −$31.29
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$226.66
Costs to cover: 0.533%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Kraken Futures: live order book, 3 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 BloFin live order book, 3 min ago	1.01 bp	11.2 bp −$11	14.5 bp −$145	33.7 bp −$3,372	doesn't fit
Sell Kraken Futures live order book, 3 min ago	3.03 bp	12.0 bp −$12	33.5 bp −$335	doesn't fit	doesn't fit

FIL on 29 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
Deribit FIL_USDC-PERPETUAL	−0.0858%	1h	0.9915	+0.192%	$171K	$23K	25x	as long as short
Kraken Futures PF_FILUSDshort	−0.0693%	1h	0.9912	+0.166%	$1.3M	$2.3M	50x
Coinbase International FIL-PERP-INTX	−0.0376%	1h	0.9904	+0.081%	$318K	$1.9M	50x	as long as short
Injective FIL/USDC PERP	−0.0252%	1h	0.9855	−0.414%	$2K	$240K	12x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9920	+0.244%	$25K	—	150x	as long as short
Bitget FILUSDT	−0.0002%	8h	0.9908	+0.121%	$10.8M	$21.6M	75x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9918	+0.220%	$58K	$2K	10x	as long as short
KuCoin FILUSDTM	+0.0011%	8h	0.9916	+0.202%	$7.4M	$7.0M	50x	as long as short
Bybit FILUSDT	+0.0026%	8h	0.9911	+0.152%	$15.4M	$18.1M	25x	as long as short
OKX FIL-USDT-SWAP	+0.0033%	8h	0.9910	+0.141%	$18.2M	$98.0M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC FIL_USDC	+0.0078%	8h	0.9909	+0.131%	$252K	$105K	50x	as long as short
BingX FIL-USDT	+0.0078%	8h	0.9915	+0.192%	—	$11.9M	—	as long as short
Extended FIL-USD	+0.0080%	1h	0.9905	+0.091%	$692K	$2.3M	10x	as long as short
Binance FILUSDT	+0.0081%	8h	0.9908	+0.121%	$57.1M	$176.0M	75x	as long as short
Lighter FIL	+0.0096%	1h	0.9905	+0.091%	$159K	$349K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9916	+0.200%	$8.7M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9918	+0.226%	$498K	$525K	20x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9917	+0.212%	$7.9M	$16.3M	50x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9897	+0.013%	$441K	$277K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9865	−0.317%	$45K	$293K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9876	−0.199%	$287K	$790K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9870	−0.263%	$30K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9920	+0.242%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9900	+0.040%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9907	+0.111%	$493	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9915	+0.192%	$629K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9900	+0.040%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDTlong	+0.0200%	8h	0.9896	long leg	$2.7M	$657K	75x
GMX FIL/USD [WBTC.b-USDC]	L +0.0600% / S −0.0709%	1h	0.9919	+0.231%	$207K	—	100x	as long as short