Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0873%/8h= −95.6% APRpaid last 24h +0.414%

Price spread now: Binance against Kraken Futures−0.052%54s7-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 Binance

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 −$26 a day on $10k at the current rate, and Binance is 0.052% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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_MELANIAUSD	0.1092	0.0973	pay 0.0122% / 1h	56m 31s	$25K	$3K	10x
Short	Binance MELANIAUSDT	0.1092	0.0100	get 0.0050% / 4h	3h 56m	$3.0M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.052%Rate

Funding earned: −$183.39
Price spread: −0.052% → 0.000%: −$5.22
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$208.62
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 9 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 Binance live order book, 9 min ago	3.21 bp	32.4 bp −$32	110.7 bp −$1,107	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.

MELANIA 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
Hyperliquid MELANIA	+0.0100%	1h	0.1090	−0.208%	$1.7M	$204K	3x	as long as short
Binance MELANIAUSDTshort	+0.0100%	4h	0.1092	−0.052%	$3.0M	$3.1M	75x
Bybit MELANIAUSDT	+0.0100%	4h	0.1093	+0.048%	$1.5M	$677K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1091	−0.135%	$423K	$54K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1091	−0.098%	$1.2M	$135K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1093	+0.067%	$406K	$1.1M	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1090	−0.226%	$966K	$215K	50x	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1093	+0.049%	$113K	$590	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1054	−3.460%	$241K	—	3x	as long as short
BloFin MELANIA-USDT	+0.0154%	4h	0.1093	+0.030%	$195K	$6K	75x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX MELANIA-USDT	+0.0368%	4h	0.1092	−0.061%	—	$1.5M	—	as long as short
Aster MELANIAUSDT	+0.0684%	4h	0.1091	−0.119%	$21K	$16K	5x	as long as short
Kraken Futures PF_MELANIAUSDlong	+0.0973%	1h	0.1092	long leg	$25K	$3K	10x