Funding arb · Price arb /

GRIFFAIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.6325%/8h= −692.6% APRpaid last 24h −3.092%

Price spread now: KuCoin against Kraken Futures−0.837%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 KuCoin

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 −$190 a day on $10k at the current rate, and KuCoin is 0.837% cheaper against Kraken Futures than usual: you would sell low and buy high (−$84 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	0.01559	0.6425	pay 0.0803% / 1h	30m 57s	$17K	$20K	10x
Short	KuCoin GRIFFAINUSDTM	0.01546	0.0100	get 0.0050% / 4h	2h 30m	$472K	$44K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.837%Rate

Funding earned: −$1,328.25
Price spread: −0.837% → 0.000%: −$83.71
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,433.96
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 27 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 KuCoin live order book, 27 min ago	12.90 bp	115.4 bp −$115	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 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
Reya GRIFFAINRUSDPERP	0.0000%	1h	0.01177	−24.497%	—	—	—	as long as short
BloFin GRIFFAIN-USDT	+0.0061%	4h	0.01556	−0.196%	$273K	$12K	20x	as long as short
Hyperliquid GRIFFAIN	+0.0100%	1h	0.01554	−0.318%	$1.2M	$103K	3x	as long as short
Binance GRIFFAINUSDT	+0.0100%	4h	0.01553	−0.396%	$4.2M	$1.9M	20x	as long as short
Bybit GRIFFAINUSDT	+0.0100%	4h	0.01553	−0.362%	$752K	$484K	25x	as long as short
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01555	−0.247%	$428K	$86K	10x	as long as short
MEXC GRIFFAIN_USDT	+0.0100%	4h	0.01552	−0.452%	$274K	$115K	100x	as long as short
KuCoin GRIFFAINUSDTMshort	+0.0100%	4h	0.01546	−0.837%	$472K	$44K	20x
Bitget GRIFFAINUSDT	+0.0100%	4h	0.01552	−0.452%	$369K	$284K	10x	as long as short
BingX GRIFFAIN-USDT	+0.0114%	4h	0.01553	−0.388%	—	$6.5M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GRIFFAINUSDT	+0.0247%	4h	0.01553	−0.410%	$15K	$19K	5x	as long as short
Kraken Futures PF_GRIFFAINUSDlong	+0.6425%	1h	0.01559	long leg	$17K	$20K	10x