Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0344%/8h= +37.6% APRpaid last 24h −0.709%

Price spread now: KuCoin against Kraken Futures−0.142%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

Funding pays, the price is against you. KuCoin is 0.142% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.142% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 33 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_INITUSD	0.08406	−0.0244	get 0.0030% / 1h	42m 17s	$5K	$17K	10x
Short	KuCoin INITUSDTM	0.08394	0.0100	get 0.0050% / 4h	42m 17s	$326K	$49K	25x

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 −0.142%Rate

Funding earned: $72.19
Price spread: −0.142% → 0.000%: −$14.18
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $36.01
Costs to cover: 0.220%
Break-even: 3.5 days

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 60 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, 60 min ago	19.67 bp	275.4 bp −$275	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.

INIT on 13 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_INITUSDlong	−0.0244%	1h	0.08406	long leg	$5K	$17K	10x
Hyperliquid INIT	+0.0100%	1h	0.08412	+0.068%	$313K	$146K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08400	−0.075%	$28K	$8K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08412	+0.068%	$3.5M	$2.9M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08399	−0.082%	$1.5M	$1.3M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08403	−0.035%	$141K	$552K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08401	−0.059%	$82K	$21K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08409	+0.037%	$448K	$169K	20x	as long as short
KuCoin INITUSDTMshort	+0.0100%	4h	0.08394	−0.142%	$326K	$49K	25x
Bitget INITUSDT	+0.0100%	4h	0.08399	−0.082%	$434K	$258K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08407	+0.013%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08402	−0.042%	$27K	$11K	—	as long as short
BloFin INIT-USDT	+0.0107%	4h	0.08419	+0.156%	$153K	$63K	25x	as long as short