Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1660%/8h= +181.8% APRpaid last 24h +0.875%

Price spread now: Kraken Futures against BloFin+0.474%57s7-day average — · you sell dearer than you buy

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

Long on BloFin 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 +$50 a day on $10k at the current rate, and Kraken Futures is 0.474% dearer against BloFin than usual: you sell high and buy low: +$47 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	BloFin NOT-USDT	0.0005032	0.0048	pay 0.0024% / 4h	43m 38s	$111K	$16K	50x
Short	Kraken Futures PF_NOTUSD	0.0005056	0.1708	get 0.0214% / 1h	43m 38s	$49K	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.474%Rate

Funding earned: $348.69
Price spread: +0.474% → 0.000%: $47.41
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $374.11
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: BloFin: live order book, 52 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 BloFin live order book, 52 min ago	6.89 bp	19.0 bp −$19	73.5 bp −$735	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.

NOT on 16 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
Variational Omni NOT	−0.0408%	4h	0.0005026	−0.128%	$71K	$39K	—	as long as short
KuCoin NOTUSDTM	−0.0250%	4h	0.0005032	0.000%	$465K	$127K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.140%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDTlong	+0.0048%	4h	0.0005032	long leg	$111K	$16K	50x
Lighter 1000NOT	+0.0096%	1h	0.0005052	+0.407%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005040	+0.159%	$357K	$57K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005039	+0.135%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005043	+0.211%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005034	+0.040%	$2.1M	$847K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005044	+0.238%	$629K	$650K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOT_USDT	+0.0100%	4h	0.0005028	−0.079%	$140K	$69K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005042	+0.199%	$1.3M	$423K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005038	+0.119%	$668K	$412K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005040	+0.159%	—	$724K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005041	+0.185%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSDshort	+0.1708%	1h	0.0005056	+0.474%	$49K	$9K	10x