Funding arb · Price arb /

GALA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0241%/8h= +26.4% APRpaid last 24h −0.140%

Price spread now: MEXC against Kraken Futures−0.010%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$770.769% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now −0.010%, 7d avg −0.075%

Together, before fees+0.001%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and MEXC is 0.065% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.075%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.066% in total (about 3.4% 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_GALAUSD	0.002069	−0.0141	get 0.0018% / 1h	55m 55s	$660K	$224K	25x
Short	MEXC GALA_USDT	0.002069	0.0100	get 0.0100% / 8h	1h 55m	$5.5M	$3.3M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.010%Rate

Funding earned: $50.6
Price spread: −0.010% → −0.075%: $6.48
Slippage, 4 orders: −$66.93
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$19.85
Costs to cover: 0.769%
Break-even: 9.7 days

Slippage from Kraken Futures: live order book, 52 min ago; MEXC: 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 Kraken Futures live order book, 52 min ago	9.64 bp	35.8 bp −$36	113.5 bp −$1,135	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	2.41 bp	5.1 bp −$5	12.5 bp −$125	128.5 bp −$12.9K	184.3 bp −$92.1K

GALA on 15 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_GALAUSDlong	−0.0141%	1h	0.002069	long leg	$660K	$224K	25x
Injective GALA/USDC PERP	+0.0033%	1h	0.002110	+1.971%	$2K	$7K	5.5x	as long as short
BloFin GALA-USDT	+0.0072%	8h	0.002076	+0.328%	$301K	$66K	20x	as long as short
Hyperliquid GALA	+0.0100%	1h	0.002070	+0.038%	$303K	$158K	3x	as long as short
Aster GALAUSDT	+0.0100%	8h	0.002070	+0.047%	$17K	$8K	5x	as long as short
Binance GALAUSDT	+0.0100%	8h	0.002069	+0.009%	$5.4M	$17.5M	75x	as long as short
Bybit GALAUSDT	+0.0100%	8h	0.002070	+0.038%	$6.0M	$6.1M	75x	as long as short
OKX GALA-USDT-SWAP	+0.0100%	8h	0.002069	−0.010%	$2.2M	$4.1M	50x	as long as short
Gate GALA_USDT	+0.0100%	8h	0.002073	+0.183%	$1.8M	$1.5M	75x	as long as short
MEXC GALA_USDTshort	+0.0100%	8h	0.002069	−0.010%	$5.5M	$3.3M	125x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin GALAUSDTM	+0.0100%	8h	0.002069	−0.010%	$1.7M	$4.9M	75x	as long as short
Bitget GALAUSDT	+0.0100%	8h	0.002070	+0.038%	$2.1M	$1.3M	75x	as long as short
BingX GALA-USDT	+0.0100%	8h	0.002073	+0.183%	—	$11.6M	—	as long as short
Variational Omni GALA	+0.0100%	8h	0.002071	+0.092%	$25K	$15K	—	as long as short
Extended GALA-USD	+0.0104%	1h	0.002068	−0.036%	$1K	$84K	5x	as long as short