Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1564%/8h= −171.3% APRpaid last 24h −0.312%

Price spread now: Kraken Futures against Bitget+0.077%7-day average — · you sell dearer than you buy

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

Long on Bitget 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 0.077% dearer against Bitget than usual: you sell high and buy low (spread +0.077% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$47 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget GMTUSDT	0.008515	−0.0012	get 0.0006% / 4h	3h 12m	$676K	$610K	50x
Short	Kraken Futures PF_GMTUSD	0.008522	−0.1576	pay 0.0197% / 1h	12m 03s	$43K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$328.45
Price spread: +0.077% → 0.000%: $7.67
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$342.78
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 38 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 Bitget live order book, 38 min ago	7.00 bp	22.7 bp −$23	380.9 bp −$3,809	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	−0.1576%	1h	0.008522	+0.077%	$43K	$13K	20x
Bybit GMTUSDT	−0.0486%	8h	0.008510	−0.059%	$1.1M	$2.0M	50x	as long as short
OKX GMT-USDT-SWAP	−0.0451%	4h	0.008505	−0.117%	$397K	$1.2M	20x	as long as short
KuCoin GMTUSDTM	−0.0378%	4h	0.008510	−0.059%	$275K	$177K	50x	as long as short
Variational Omni GMT	−0.0301%	8h	0.008514	−0.017%	$4K	$5K	—	as long as short
Aster GMTUSDT	−0.0056%	4h	0.008519	+0.046%	$7K	$22K	10x	as long as short
Bitget GMTUSDTlong	−0.0012%	4h	0.008515	long leg	$676K	$610K	50x
BingX GMT-USDT	+0.0050%	4h	0.008515	0.000%	—	$1.3M	—	as long as short
Hyperliquid GMT	+0.0100%	1h	0.008513	−0.023%	$112K	$150K	3x	as long as short
Binance GMTUSDT	+0.0100%	4h	0.008508	−0.082%	$2.9M	$5.2M	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate GMT_USDT	+0.0100%	8h	0.008520	+0.059%	$145K	$178K	50x	as long as short
MEXC GMT_USDT	+0.0100%	4h	0.008508	−0.082%	$431K	$210K	20x	as long as short