Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1098%/8h= −120.2% APRpaid last 24h −0.288%

Price spread now: Kraken Futures against Binance+0.063%7-day average — · you sell dearer than you buy

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

Long on Binance 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 0.063% dearer against Binance than usual: you sell high and buy low (spread +0.063% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$33 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance GMTUSDT	0.008313	0.0100	pay 0.0050% / 4h	1h 35m	$2.6M	$3.0M	50x
Short	Kraken Futures PF_GMTUSD	0.008318	−0.0998	pay 0.0125% / 1h	35m 07s	$45K	$10K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$230.55
Price spread: +0.063% → 0.000%: $6.29
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$244.26
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 16 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 Binance live order book, 16 min ago	1.20 bp	21.4 bp −$21	131.5 bp −$1,315	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.

GMT 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_GMTUSDshort	−0.0998%	1h	0.008318	+0.063%	$45K	$10K	20x
KuCoin GMTUSDTM	−0.0052%	4h	0.008310	−0.036%	$257K	$99K	50x	as long as short
Hyperliquid GMT	+0.0100%	1h	0.008310	−0.036%	$122K	$123K	3x	as long as short
Aster GMTUSDT	+0.0100%	4h	0.008313	−0.002%	$8K	$14K	10x	as long as short
Binance GMTUSDTlong	+0.0100%	4h	0.008313	long leg	$2.6M	$3.0M	50x
Bybit GMTUSDT	+0.0100%	8h	0.008311	−0.024%	$1.1M	$1.1M	50x	as long as short
OKX GMT-USDT-SWAP	+0.0100%	4h	0.008304	−0.108%	$343K	$551K	20x	as long as short
Gate GMT_USDT	+0.0100%	8h	0.008320	+0.084%	$146K	$104K	50x	as long as short
MEXC GMT_USDT	+0.0100%	4h	0.008311	−0.024%	$421K	$184K	20x	as long as short
Bitget GMTUSDT	+0.0100%	4h	0.008314	+0.012%	$670K	$400K	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GMT-USDT	+0.0100%	4h	0.008309	−0.048%	—	$1.2M	—	as long as short
Variational Omni GMT	+0.0100%	8h	0.008314	+0.007%	$3K	$5K	—	as long as short