Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1048%/8h= −114.7% APRpaid last 24h −0.903%

Price spread now: MEXC against Kraken Futures−0.065%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 MEXC

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 −$31 a day on $10k at the current rate, and MEXC is 0.065% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 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	0.0005053	0.1148	pay 0.0143% / 1h	3m 00s	$49K	$5K	10x
Short	MEXC NOT_USDT	0.0005050	0.0100	get 0.0050% / 4h	3h 03m	$1.4M	$464K	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$219.99
Price spread: −0.065% → 0.000%: −$6.54
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$240.53
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; MEXC: 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 MEXC live order book, 3 min ago	3.96 bp	8.3 bp −$8	35.3 bp −$353	92.7 bp −$9,265	115.7 bp −$57.8K

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
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.548%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005060	+0.131%	$11K	$6K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005050	−0.065%	$340K	$66K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005051	−0.050%	$14K	$3K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005050	−0.065%	$2.1M	$2.9M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005045	−0.164%	$2.1M	$811K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005048	−0.105%	$643K	$658K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005051	−0.046%	$141K	$59K	50x	as long as short
MEXC NOT_USDTshort	+0.0100%	4h	0.0005050	−0.065%	$1.4M	$464K	200x
KuCoin NOTUSDTM	+0.0100%	4h	0.0005045	−0.164%	$494K	$134K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NOTUSDT	+0.0100%	4h	0.0005058	+0.093%	$680K	$480K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005048	−0.105%	—	$734K	—	as long as short
Variational Omni NOT	+0.0100%	4h	0.0005044	−0.181%	$72K	$38K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005050	−0.074%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0130%	4h	0.0005056	+0.053%	$108K	$18K	50x	as long as short
Kraken Futures PF_NOTUSDlong	+0.1148%	1h	0.0005053	long leg	$49K	$5K	10x