Funding arb · Price arb /

GRIFFAIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−3.9659%/8h= −4342.6% APRpaid last 24h −3.638%

Price spread now: BloFin against Kraken Futures−0.665%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on BloFin

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

Both sides work against this trade now: funding costs −$1,190 a day on $10k at the current rate, and BloFin is 0.665% cheaper against Kraken Futures than usual: you would sell low and buy high (−$66 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_GRIFFAINUSD	0.01570	3.9784	pay 0.4973% / 1h	18m 44s	$18K	$11K	10x
Short	BloFin GRIFFAIN-USDT	0.01560	0.0125	get 0.0063% / 4h	2h 18m	$270K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.665%Rate

Funding earned: −$8,328.33
Price spread: −0.665% → 0.000%: −$66.47
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$8,416.8
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 28 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell BloFin live order book, 28 min ago	0.64 bp	36.8 bp −$37	doesn't fit	doesn't fit	doesn't fit

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.

GRIFFAIN on 12 exchanges

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
Reya GRIFFAINRUSDPERP	0.0000%	1h	0.01177	−25.036%	—	—	—	as long as short
Hyperliquid GRIFFAIN	+0.0100%	1h	0.01560	−0.633%	$1.2M	$95K	3x	as long as short
Binance GRIFFAINUSDT	+0.0100%	4h	0.01559	−0.684%	$4.2M	$1.8M	20x	as long as short
Bybit GRIFFAINUSDT	+0.0100%	4h	0.01559	−0.741%	$749K	$463K	25x	as long as short
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01557	−0.849%	$424K	$77K	10x	as long as short
MEXC GRIFFAIN_USDT	+0.0100%	4h	0.01558	−0.779%	$274K	$111K	100x	as long as short
KuCoin GRIFFAINUSDTM	+0.0100%	4h	0.01556	−0.907%	$484K	$46K	20x	as long as short
Bitget GRIFFAINUSDT	+0.0100%	4h	0.01557	−0.843%	$363K	$266K	10x	as long as short
BingX GRIFFAIN-USDT	+0.0100%	4h	0.01559	−0.716%	—	$6.6M	—	as long as short
BloFin GRIFFAIN-USDTshort	+0.0125%	4h	0.01560	−0.665%	$270K	$12K	20x

Show all 12 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GRIFFAINUSDT	+0.0270%	4h	0.01557	−0.826%	$15K	$18K	5x	as long as short
Kraken Futures PF_GRIFFAINUSDlong	+3.9784%	1h	0.01570	long leg	$18K	$11K	10x