Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0066%/8h= −7.3% APRpaid last 24h +0.824%

Price spread now: Kraken Futures against Bitget+0.044%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 0.044% dearer against Bitget than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget INITUSDT	0.08287	0.0100	pay 0.0050% / 4h	2h 10m	$431K	$303K	25x
Short	Kraken Futures PF_INITUSD	0.08291	0.0034	get 0.0004% / 1h	10m 37s	$5K	$17K	10x

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 +0.044%Rate

Funding earned: −$13.92
Price spread: +0.044% → 0.000%: $4.37
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$31.55
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 50 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, 50 min ago	10.84 bp	46.2 bp −$46	191.9 bp −$1,919	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.

INIT 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_INITUSDshort	+0.0034%	1h	0.08291	+0.044%	$5K	$17K	10x
Hyperliquid INIT	+0.0100%	1h	0.08292	+0.066%	$301K	$230K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08291	+0.044%	$27K	$37K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08288	+0.012%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08277	−0.121%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08306	+0.229%	$138K	$657K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08287	0.000%	$84K	$55K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08290	+0.036%	$449K	$213K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08283	−0.048%	$330K	$54K	25x	as long as short
Bitget INITUSDTlong	+0.0100%	4h	0.08287	long leg	$431K	$303K	25x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08288	+0.012%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08274	−0.156%	$26K	$23K	—	as long as short