Funding arb · Price arb /

INIT

all INIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0397%/8h= +43.5% APRpaid last 24h +0.666%

Price spread now: Kraken Futures against MEXC−0.118%7-day average — · you buy dearer than you sell

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

Long on MEXC 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

Funding pays, the price is against you. Kraken Futures is 0.118% cheaper against MEXC than usual: you would sell low and buy high (spread −0.118% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 24 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC INIT_USDT	0.08202	0.0100	pay 0.0050% / 4h	56m 36s	$446K	$218K	20x
Short	Kraken Futures PF_INITUSD	0.08192	0.0497	get 0.0062% / 1h	56m 36s	$5K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.118%Rate

Funding earned: $83.39
Price spread: −0.118% → 0.000%: −$11.82
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $57.57
Costs to cover: 0.140%
Break-even: 2.2 days

Slippage unknown: MEXC: live order book, 13 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 MEXC live order book, 13 min ago	1.84 bp	14.5 bp −$14	76.5 bp −$765	213.9 bp −$21.4K	598.8 bp −$299.4K
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 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
BloFin INIT-USDT	+0.0076%	4h	0.08189	−0.158%	$152K	$110K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08199	−0.035%	$298K	$233K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08186	−0.194%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08199	−0.037%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08193	−0.110%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08207	+0.061%	$133K	$634K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08171	−0.378%	$83K	$56K	25x	as long as short
MEXC INIT_USDTlong	+0.0100%	4h	0.08202	long leg	$446K	$218K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08184	−0.219%	$326K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08197	−0.061%	$428K	$310K	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	0.08199	−0.037%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08170	−0.385%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSDshort	+0.0497%	1h	0.08192	−0.118%	$5K	$17K	10x