Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.5363%/8h= −587.2% APRpaid last 24h −4.087%

Price spread now: Bitget against Kraken Futures+0.006%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Bitget

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$161 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IOUSD	0.1505	0.5463	pay 0.0683% / 1h	37m 04s	$39K	$21K	10x
Short	Bitget IOUSDT	0.1505	0.0100	get 0.0050% / 4h	2h 37m	$1.4M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$1,126.23
Price spread: +0.006% → 0.000%: $0.64
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$1,147.58
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago	6.65 bp	27.3 bp −$27	173.4 bp −$1,734	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.

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	−0.0157%	1h	0.1503	−0.126%	$2K	$101	5.5x	as long as short
BloFin IO-USDT	+0.0098%	4h	0.1504	−0.060%	$191K	$30K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1504	−0.073%	$1.0M	$392K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1504	−0.066%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1505	−0.005%	$3.0M	$6.3M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1502	−0.173%	$1.1M	$862K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1504	−0.067%	$230K	$542K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1504	−0.060%	$1.1M	$238K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1502	−0.193%	$400K	$654K	50x	as long as short
Bitget IOUSDTshort	+0.0100%	4h	0.1505	+0.006%	$1.4M	$1.1M	50x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IO-USDT	+0.0100%	4h	0.1503	−0.126%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1502	−0.226%	$30K	$5K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1505	−0.018%	$5K	$171K	5x	as long as short
Kraken Futures PF_IOUSDlong	+0.5463%	1h	0.1505	long leg	$39K	$21K	10x