Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.6108%/8h= −668.8% APRpaid last 24h −0.712%

Price spread now: Bitget against Kraken Futures+0.084%7-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

The price spread pays, funding is against you. Bitget is 0.084% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.084% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$183 a day in funding at the current rate, which eats that in about 1 hour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NOTUSD	0.0005035	0.6208	pay 0.0776% / 1h	11m 55s	$49K	$10K	10x
Short	Bitget NOTUSDT	0.0005039	0.0100	get 0.0050% / 4h	1h 11m	$662K	$387K	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

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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 +0.084%Rate

Funding earned: −$1,282.69
Price spread: +0.084% → 0.000%: $8.43
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$1,296.26
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 3 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, 3 min ago	7.93 bp	24.0 bp −$24	104.7 bp −$1,047	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.

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	−0.0151%	4h	0.0005030	−0.097%	$71K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.193%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0081%	4h	0.0005042	+0.144%	$111K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005049	+0.293%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005040	+0.104%	$369K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005039	+0.088%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005039	+0.084%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005032	−0.055%	$2.1M	$815K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005034	−0.015%	$612K	$584K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005038	+0.064%	$140K	$79K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005038	+0.064%	$1.4M	$471K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005031	−0.075%	$467K	$133K	50x	as long as short
Bitget NOTUSDTshort	+0.0100%	4h	0.0005039	+0.084%	$662K	$387K	50x
BingX NOT-USDT	+0.0100%	4h	0.0005037	+0.045%	—	$7.5M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005036	+0.029%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSDlong	+0.6208%	1h	0.0005035	long leg	$49K	$10K	10x