Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0518%/8h= −56.7% APRpaid last 24h −4.346%

Price spread now: KuCoin against Kraken Futures−0.253%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

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and KuCoin is 0.253% cheaper against Kraken Futures than usual: you would sell low and buy high (−$25 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IOUSD	0.1526	0.0618	pay 0.0077% / 1h	33m 56s	$40K	$18K	10x
Short	KuCoin IOUSDTM	0.1522	0.0100	get 0.0050% / 4h	3h 33m	$374K	$671K	50x

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 −0.253%Rate

Funding earned: −$108.81
Price spread: −0.253% → 0.000%: −$25.31
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$156.12
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 19 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, 19 min ago	6.60 bp	63.0 bp −$63	377.3 bp −$3,773	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
BloFin IO-USDT	+0.0059%	4h	0.1519	−0.450%	$194K	$31K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1523	−0.194%	$1.0M	$383K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1523	−0.205%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1522	−0.239%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1522	−0.253%	$1.1M	$891K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1522	−0.279%	$242K	$545K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1522	−0.253%	$1.2M	$230K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1522	−0.253%	$374K	$671K	50x
Bitget IOUSDT	+0.0100%	4h	0.1523	−0.188%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1522	−0.253%	—	$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	0.1517	−0.596%	$33K	$8K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1522	−0.260%	$910	$156K	5x	as long as short
Injective IO/USDC PERP	+0.0414%	1h	0.1517	−0.581%	$2K	$202	5.5x	as long as short
Kraken Futures PF_IOUSDlong	+0.0618%	1h	0.1526	long leg	$40K	$18K	10x