Funding arb · Price arb /

GRIFFAIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−1.5120%/8h= −1655.6% APRpaid last 24h −2.663%

Price spread now: MEXC against Kraken Futures−0.108%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 MEXC

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 −$454 a day on $10k at the current rate, and MEXC is 0.108% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 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	0.01578	1.5684	pay 0.1960% / 1h	24m 11s	$18K	$21K	10x
Short	MEXC GRIFFAIN_USDT	0.01576	0.0564	get 0.0282% / 4h	24m 11s	$293K	$115K	100x

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 −0.108%Rate

Funding earned: −$3,175.14
Price spread: −0.108% → 0.000%: −$10.83
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$3,199.97
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 16 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 MEXC live order book, 16 min ago	9.47 bp	21.9 bp −$22	87.0 bp −$870	480.7 bp −$48.1K	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	−25.391%	—	—	—	as long as short
Hyperliquid GRIFFAIN	+0.0100%	1h	0.01580	+0.120%	$1.2M	$101K	3x	as long as short
Bybit GRIFFAINUSDT	+0.0100%	4h	0.01580	+0.120%	$776K	$459K	25x	as long as short
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01576	−0.140%	$434K	$84K	10x	as long as short
KuCoin GRIFFAINUSDTM	+0.0100%	4h	0.01575	−0.172%	$481K	$52K	20x	as long as short
Bitget GRIFFAINUSDT	+0.0236%	4h	0.01576	−0.108%	$379K	$278K	10x	as long as short
Binance GRIFFAINUSDT	+0.0558%	4h	0.01578	+0.018%	$4.2M	$1.8M	20x	as long as short
MEXC GRIFFAIN_USDTshort	+0.0564%	4h	0.01576	−0.108%	$293K	$115K	100x
BingX GRIFFAIN-USDT	+0.0580%	4h	0.01577	−0.020%	—	$6.6M	—	as long as short
BloFin GRIFFAIN-USDT	+0.0590%	4h	0.01579	+0.050%	$281K	$12K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GRIFFAINUSDT	+0.0717%	4h	0.01575	−0.185%	$15K	$20K	5x	as long as short
Kraken Futures PF_GRIFFAINUSDlong	+1.5684%	1h	0.01578	long leg	$18K	$21K	10x