Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+2.3179%/8h= +2538.1% APRpaid last 24h +3.619%

Price spread now: Kraken Futures against Bitget−0.216%7-day average — · you buy dearer than you sell

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

Funding pays, the price is against you. Kraken Futures is 0.216% cheaper against Bitget than usual: you would sell low and buy high (spread −0.216% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about under an hour of funding at the current rate (+$695 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IOUSDT	0.1529	0.0100	pay 0.0050% / 4h	1h 15m	$1.4M	$1.3M	50x
Short	Kraken Futures PF_IOUSD	0.1526	2.3279	get 0.2910% / 1h	15m 24s	$39K	$18K	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 −0.216%Rate

Funding earned: $4,867.6
Price spread: −0.216% → 0.000%: −$21.56
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $4,824.04
Costs to cover: 0.220%
Break-even: 0.1 days

Slippage unknown: Bitget: live order book, 1 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, 1 min ago	3.27 bp	31.9 bp −$32	203.5 bp −$2,035	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
Injective IO/USDC PERP	−0.0430%	1h	0.1530	+0.065%	$2K	$202	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1525	−0.229%	$1.0M	$378K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1526	−0.191%	$24K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1525	−0.244%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1524	−0.327%	$1.1M	$919K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1524	−0.353%	$234K	$562K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1524	−0.327%	$1.2M	$228K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1525	−0.262%	$357K	$658K	50x	as long as short
Bitget IOUSDTlong	+0.0100%	4h	0.1529	long leg	$1.4M	$1.3M	50x
BingX IO-USDT	+0.0100%	4h	0.1526	−0.196%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1526	−0.216%	$33K	$13K	—	as long as short
BloFin IO-USDT	+0.0101%	4h	0.1527	−0.131%	$194K	$39K	50x	as long as short
Extended IO-USD	+0.0104%	1h	0.1525	−0.270%	$2K	$130K	5x	as long as short
Kraken Futures PF_IOUSDshort	+2.3279%	1h	0.1526	−0.216%	$39K	$18K	10x