Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0432%/8h= +47.3% APRpaid last 24h −0.795%

Price spread now: KuCoin against Kraken Futures−0.162%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 KuCoin

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

Funding pays, the price is against you. KuCoin is 0.162% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.162% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 30 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NOTUSD	0.0005102	−0.0332	get 0.0042% / 1h	55m 18s	$50K	$10K	10x
Short	KuCoin NOTUSDTM	0.0005094	0.0100	get 0.0050% / 4h	3h 55m	$466K	$138K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.162%Rate

Funding earned: $90.76
Price spread: −0.162% → 0.000%: −$16.19
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $52.56
Costs to cover: 0.220%
Break-even: 2.9 days

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 67 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 KuCoin live order book, 67 min ago	7.93 bp	77.3 bp −$77	400.8 bp −$4,008	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
Kraken Futures PF_NOTUSDlong	−0.0332%	1h	0.0005102	long leg	$50K	$10K	10x
Variational Omni NOT	−0.0014%	4h	0.0005109	+0.138%	$72K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.474%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005111	+0.169%	$12K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005090	−0.240%	$373K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005104	+0.030%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005093	−0.187%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005090	−0.240%	$2.1M	$830K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005090	−0.240%	$635K	$614K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005099	−0.064%	$142K	$78K	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	0.0005094	−0.162%	$1.4M	$460K	200x	as long as short
KuCoin NOTUSDTMshort	+0.0100%	4h	0.0005094	−0.162%	$466K	$138K	50x
Bitget NOTUSDT	+0.0100%	4h	0.0005098	−0.084%	$668K	$391K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005097	−0.103%	—	$7.4M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005090	−0.235%	$4K	$491	5x	as long as short
BloFin NOT-USDT	+0.0119%	4h	0.0005113	+0.210%	$112K	$17K	50x	as long as short