Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1610%/8h= −176.2% APRpaid last 24h −0.904%

Price spread now: BloFin against Kraken Futures−0.283%57s7-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 BloFin

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 −$48 a day on $10k at the current rate, and BloFin is 0.283% cheaper against Kraken Futures than usual: you would sell low and buy high (−$28 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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	Kraken Futures PF_NOTUSD	0.0005015	0.1688	pay 0.0211% / 1h	35m 45s	$49K	$9K	10x
Short	BloFin NOT-USDT	0.0005001	0.0079	get 0.0039% / 4h	2h 35m	$111K	$18K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.283%Rate

Funding earned: −$338
Price spread: −0.283% → 0.000%: −$28.32
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$388.32
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 43 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 BloFin live order book, 43 min ago	4.94 bp	17.1 bp −$17	52.4 bp −$524	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	−0.0158%	4h	0.0005000	−0.309%	$71K	$38K	—	as long as short
KuCoin NOTUSDTM	−0.0126%	4h	0.0004998	−0.343%	$476K	$137K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−2.816%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDTshort	+0.0079%	4h	0.0005001	−0.283%	$111K	$18K	50x
Lighter 1000NOT	+0.0096%	1h	0.0005018	+0.062%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005010	−0.104%	$337K	$69K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005004	−0.219%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005007	−0.160%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005004	−0.223%	$2.1M	$887K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005009	−0.124%	$637K	$695K	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	0.0005010	−0.104%	$138K	$73K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005005	−0.203%	$1.3M	$448K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005004	−0.223%	$666K	$482K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005008	−0.144%	—	$8.5M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005005	−0.194%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSDlong	+0.1688%	1h	0.0005015	long leg	$49K	$9K	10x