Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1394%/8h= −152.7% APRpaid last 24h +0.329%

Price spread now: Bitget against Kraken Futures−0.101%58s7-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 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

Both sides work against this trade now: funding costs −$42 a day on $10k at the current rate, and Bitget is 0.101% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 58 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	0.1103	0.1494	pay 0.0187% / 1h	26m 23s	$25K	$3K	10x
Short	Bitget MELANIAUSDT	0.1102	0.0100	get 0.0050% / 4h	2h 26m	$969K	$214K	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 −0.101%Rate

Funding earned: −$292.79
Price spread: −0.101% → 0.000%: −$10.07
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$324.86
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 40 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, 40 min ago	8.70 bp	18.7 bp −$19	102.0 bp −$1,020	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 12 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	0.1104	+0.126%	$1.7M	$209K	3x	as long as short
Binance MELANIAUSDT	+0.0100%	4h	0.1104	+0.091%	$3.0M	$3.1M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1104	+0.090%	$1.5M	$723K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1101	−0.155%	$425K	$66K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1103	+0.063%	$1.2M	$137K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1101	−0.155%	$407K	$1.2M	30x	as long as short
Bitget MELANIAUSDTshort	+0.0100%	4h	0.1102	−0.101%	$969K	$214K	50x
BingX MELANIA-USDT	+0.0100%	4h	0.1105	+0.180%	—	$1.5M	—	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1105	+0.236%	$114K	$590	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1095	−0.703%	$250K	—	3x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MELANIAUSDT	+0.0697%	4h	0.1102	−0.048%	$21K	$15K	5x	as long as short
Kraken Futures PF_MELANIAUSDlong	+0.1494%	1h	0.1103	long leg	$25K	$3K	10x