Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+3.9297%/8h= +4303.0% APRpaid last 24h +4.020%

Price spread now: Kraken Futures against KuCoin+0.214%52s7-day average — · you sell dearer than you buy

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

Long on KuCoin 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 +$1,179 a day on $10k at the current rate, and Kraken Futures is 0.214% dearer against KuCoin than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IOUSDTM	0.1512	0.0100	pay 0.0050% / 4h	3h 00m	$347K	$191K	50x
Short	Kraken Futures PF_IOUSD	0.1515	3.9397	get 0.4925% / 1h	0m 24s	$39K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.214%Rate

Funding earned: $8,252.37
Price spread: +0.214% → 0.000%: $21.44
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $8,251.81
Costs to cover: 0.220%
Break-even: 0.0 days

Slippage unknown: KuCoin: live order book, 34 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 KuCoin live order book, 34 min ago	6.72 bp	82.6 bp −$83	doesn't fit	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	0.1513	+0.053%	$1.0M	$274K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1513	+0.043%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1513	+0.062%	$3.0M	$4.8M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1510	−0.106%	$1.1M	$573K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1512	+0.007%	$225K	$456K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1511	−0.066%	$1.2M	$218K	125x	as long as short
KuCoin IOUSDTMlong	+0.0100%	4h	0.1512	long leg	$347K	$191K	50x
Bitget IOUSDT	+0.0100%	4h	0.1513	+0.066%	$1.4M	$922K	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1511	−0.066%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1510	−0.151%	$30K	$18K	—	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	0.1512	+0.004%	$2K	$210K	5x	as long as short
BloFin IO-USDT	+0.0135%	4h	0.1511	−0.066%	$192K	$29K	50x	as long as short
Injective IO/USDC PERP	+0.0277%	1h	0.1492	−1.323%	$2K	$196	5.5x	as long as short
Kraken Futures PF_IOUSDshort	+3.9397%	1h	0.1515	+0.214%	$39K	$7K	10x