Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0247%/8h= +27.0% APRpaid last 24h +0.190%

Price spread now: MEXC against Kraken Futures+0.066%51s7-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 MEXC

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 +$7 a day on $10k at the current rate, and MEXC is 0.066% dearer against Kraken Futures than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 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	Kraken Futures PF_LAYERUSD	0.07683	−0.0147	get 0.0018% / 1h	44m 24s	$8K	$54	10x
Short	MEXC LAYER_USDT	0.07688	0.0100	get 0.0050% / 4h	44m 24s	$370K	$128K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.066%Rate

Funding earned: $51.8
Price spread: +0.066% → 0.000%: $6.63
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $48.44
Costs to cover: 0.100%
Break-even: 0.5 days

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 41 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 MEXC live order book, 41 min ago	2.61 bp	15.4 bp −$15	47.5 bp −$475	135.1 bp −$13.5K	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.

LAYER on 13 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
Kraken Futures PF_LAYERUSDlong	−0.0147%	1h	0.07683	long leg	$8K	$54	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.322%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07704	+0.275%	$593K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07698	+0.198%	$10K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07692	+0.118%	$2.1M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07683	+0.001%	$716K	$618K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07694	+0.144%	$142K	$38K	20x	as long as short
MEXC LAYER_USDTshort	+0.0100%	4h	0.07688	+0.066%	$370K	$128K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07695	+0.157%	$1.1M	$106K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07695	+0.157%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07670	−0.168%	$16K	$192K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07690	+0.087%	$254	$216K	5x	as long as short
BloFin LAYER-USDT	+0.0137%	4h	0.07691	+0.105%	$113K	$15K	50x	as long as short