Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0412%/8h= +45.1% APRpaid last 24h +0.017%

Price spread now: Bitget against Kraken Futures−0.103%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$580.576% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now −0.103%, 7d avg −0.062%

Together, before fees+0.181%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.040% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.103% now, against its 7-day average of −0.062%). If the spread goes back, that is −$4 on $10k: about 8 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.193% in total) that is about 35 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.193% in total (about 10.1% 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_FILUSD	0.9925	−0.0392	get 0.0049% / 1h	53m 46s	$1.4M	$2.4M	50x
Short	Bitget FILUSDT	0.9915	0.0020	get 0.0020% / 8h	53m 46s	$11.0M	$21.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.103%Rate

Funding earned: $86.53
Price spread: −0.103% → −0.062%: −$4.05
Slippage, 4 orders: −$35.64
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $24.84
Costs to cover: 0.576%
Break-even: 5.0 days

Slippage from Kraken Futures: live order book, 5 min ago; Bitget: live order book, 5 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, 5 min ago	4.53 bp	18.6 bp −$19	34.8 bp −$348	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.50 bp	11.0 bp −$11	14.6 bp −$146	33.7 bp −$3,370	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	−0.0958%	1h	0.9924	−0.012%	$171K	$23K	25x	as long as short
ApeX Omni FILUSDT	−0.0508%	1h	0.9900	−0.254%	$30K	$197K	50x	as long as short
Kraken Futures PF_FILUSDlong	−0.0392%	1h	0.9925	long leg	$1.4M	$2.4M	50x
Coinbase International FIL-PERP-INTX	−0.0352%	1h	0.9890	−0.355%	$319K	$1.9M	50x	as long as short
Injective FIL/USDC PERP	−0.0245%	1h	0.9855	−0.707%	$2K	$240K	12x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9922	−0.030%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9891	−0.341%	$58K	$2K	10x	as long as short
KuCoin FILUSDTM	+0.0003%	8h	0.9917	−0.083%	$7.4M	$7.1M	50x	as long as short
Bitget FILUSDTshort	+0.0020%	8h	0.9915	−0.103%	$11.0M	$21.6M	75x
OKX FIL-USDT-SWAP	+0.0029%	8h	0.9916	−0.093%	$18.2M	$98.9M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit FILUSDT	+0.0043%	8h	0.9919	−0.062%	$15.4M	$18.2M	25x	as long as short
Extended FIL-USD	+0.0064%	1h	0.9911	−0.147%	$692K	$2.3M	10x	as long as short
MEXC FIL_USDC	+0.0065%	8h	0.9911	−0.143%	$252K	$103K	50x	as long as short
Binance FILUSDT	+0.0068%	8h	0.9913	−0.123%	$57.4M	$177.9M	75x	as long as short
BingX FIL-USDT	+0.0075%	8h	0.9916	−0.093%	—	$11.9M	—	as long as short
Lighter FIL	+0.0096%	1h	0.9912	−0.133%	$159K	$347K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9917	−0.084%	$8.6M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9922	−0.035%	$499K	$529K	20x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9914	−0.113%	$7.9M	$16.1M	50x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9896	−0.292%	$441K	$277K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9893	−0.320%	$45K	$292K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9887	−0.389%	$287K	$790K	10x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9927	+0.021%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9910	−0.153%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9916	−0.093%	$487	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9921	−0.042%	$629K	$5.7M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9930	+0.048%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0189%	8h	0.9884	−0.415%	$2.7M	$606K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0573% / S −0.0666%	1h	0.9921	−0.043%	$197K	—	100x	as long as short