Funding arb · Price arb /

NEO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0442%/8h= +48.4% APRpaid last 24h +0.274%

Price spread now: Bitget against Kraken Futures+0.060%48s7-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 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 for this trade now. Funding pays +$13 a day on $10k at the current rate, and Bitget is 0.060% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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_NEOUSD	2.5295	−0.0342	get 0.0043% / 1h	14m 33s	$23K	$3K	20x
Short	Bitget NEOUSDT	2.5310	0.0100	get 0.0100% / 8h	5h 14m	$1.7M	$275K	75x

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 +0.060%Rate

Funding earned: $92.8
Price spread: +0.060% → 0.000%: $6.01
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $76.8
Costs to cover: 0.220%
Break-even: 1.2 days

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 2 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, 2 min ago	5.91 bp	26.0 bp −$26	55.1 bp −$551	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.

NEO 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
Kraken Futures PF_NEOUSDlong	−0.0342%	1h	2.5295	long leg	$23K	$3K	20x
Hyperliquid NEO	+0.0100%	1h	2.5320	+0.100%	$269K	$224K	5x	as long as short
Binance NEOUSDT	+0.0100%	8h	2.5310	+0.060%	$3.4M	$5.2M	75x	as long as short
Bybit NEOUSDT	+0.0100%	8h	2.5310	+0.060%	$1.6M	$889K	75x	as long as short
OKX NEO-USDT-SWAP	+0.0100%	8h	2.5310	+0.060%	$353K	$711K	20x	as long as short
Gate NEO_USDT	+0.0100%	8h	2.5320	+0.100%	$234K	$114K	50x	as long as short
MEXC NEO_USDT	+0.0100%	8h	2.5300	+0.021%	$2.8M	$778K	50x	as long as short
KuCoin NEOUSDTM	+0.0100%	8h	2.5310	+0.060%	$731K	$147K	30x	as long as short
Bitget NEOUSDTshort	+0.0100%	8h	2.5310	+0.060%	$1.7M	$275K	75x
BingX NEO-USDT	+0.0100%	8h	2.5330	+0.139%	—	$2.4M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NEO	+0.0100%	8h	2.5365	+0.278%	$21K	$11	—	as long as short
BloFin NEO-USDT	+0.0116%	8h	2.5330	+0.139%	$117K	$80K	75x	as long as short