Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+1.6615%/8h= +1819.3% APRpaid last 24h +3.378%

Price spread now: Kraken Futures against Binance+0.239%7-day average — · you sell dearer than you buy

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

Long on Binance 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

Both sides work for this trade now. Funding pays +$498 a day on $10k at the current rate, and Kraken Futures is 0.239% dearer against Binance than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IOUSDT	0.1499	0.0100	pay 0.0050% / 4h	3h 07m	$3.0M	$6.4M	50x
Short	Kraken Futures PF_IOUSD	0.1503	1.6715	get 0.2089% / 1h	7m 48s	$39K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.239%Rate

Funding earned: $3,489.12
Price spread: +0.239% → 0.000%: $23.89
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $3,493.01
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Binance: live order book, 16 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 Binance live order book, 16 min ago	3.33 bp	25.1 bp −$25	120.0 bp −$1,200	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.

IO on 14 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
Hyperliquid IO	+0.0100%	1h	0.1499	+0.027%	$1.0M	$363K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1498	−0.089%	$23K	$48K	5x	as long as short
Binance IOUSDTlong	+0.0100%	4h	0.1499	long leg	$3.0M	$6.4M	50x
Bybit IOUSDT	+0.0100%	4h	0.1497	−0.133%	$1.1M	$898K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1497	−0.113%	$228K	$556K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1496	−0.200%	$1.2M	$232K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1497	−0.133%	$357K	$625K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1501	+0.133%	$1.3M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1498	−0.067%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1498	−0.085%	$32K	$14K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1499	−0.031%	$4K	$174K	5x	as long as short
BloFin IO-USDT	+0.0127%	4h	0.1500	+0.067%	$192K	$39K	50x	as long as short
Injective IO/USDC PERP	+0.0193%	1h	0.1502	+0.200%	$2K	$201	5.5x	as long as short
Kraken Futures PF_IOUSDshort	+1.6715%	1h	0.1503	+0.239%	$39K	$10K	10x