Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0102%/8h= −11.1% APRpaid last 24h −0.855%

Price spread now: Gate against Kraken Futures−0.559%7-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 Gate

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 −$3 a day on $10k at the current rate, and Gate is 0.559% cheaper against Kraken Futures than usual: you would sell low and buy high (−$56 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NOTUSD	0.0005099	0.0202	pay 0.0025% / 1h	5m 14s	$50K	$9K	10x
Short	Gate NOT_USDT	0.0005071	0.0100	get 0.0050% / 4h	2h 05m	$143K	$82K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.559%Rate

Funding earned: −$21.33
Price spread: −0.559% → 0.000%: −$55.86
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$102.19
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Gate: live order book, 55 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 Gate live order book, 55 min ago	9.88 bp	54.1 bp −$54	doesn't fit	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 15 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	−0.0278%	4h	0.0005066	−0.654%	$71K	$39K	—	as long as short
KuCoin NOTUSDTM	−0.0090%	4h	0.0005059	−0.794%	$463K	$134K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.422%	$1K	$13K	5.5x	as long as short
Bybit NOTUSDT	+0.0090%	4h	0.0005068	−0.617%	$2.1M	$865K	25x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005083	−0.323%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005070	−0.578%	$370K	$52K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005070	−0.580%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005072	−0.535%	$2.1M	$3.1M	50x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005072	−0.539%	$635K	$656K	20x	as long as short
Gate NOT_USDTshort	+0.0100%	4h	0.0005071	−0.559%	$143K	$82K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005072	−0.539%	$1.3M	$475K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005078	−0.421%	$673K	$408K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005070	−0.578%	—	$724K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005071	−0.557%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSDlong	+0.0202%	1h	0.0005099	long leg	$50K	$9K	10x