Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0431%/8h= +47.2% APRpaid last 24h −0.852%

Price spread now: OKX against Kraken Futures−0.135%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 OKX

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. OKX is 0.135% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.135% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 25 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	0.0005118	−0.0331	get 0.0041% / 1h	5m 37s	$50K	$10K	10x
Short	OKX NOT-USDT-SWAP	0.0005111	0.0100	get 0.0050% / 4h	3h 05m	$633K	$615K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.135%Rate

Funding earned: $90.55
Price spread: −0.135% → 0.000%: −$13.51
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $57.04
Costs to cover: 0.200%
Break-even: 2.6 days

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, 65 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 OKX live order book, 65 min ago	2.95 bp	27.1 bp −$27	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 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	−0.0331%	1h	0.0005118	long leg	$50K	$10K	10x
Variational Omni NOT	−0.0159%	4h	0.0005109	−0.183%	$72K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.766%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0087%	4h	0.0005126	+0.158%	$112K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005123	+0.095%	$12K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005120	+0.041%	$374K	$52K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005115	−0.053%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005114	−0.084%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005108	−0.194%	$2.2M	$832K	25x	as long as short
OKX NOT-USDT-SWAPshort	+0.0100%	4h	0.0005111	−0.135%	$633K	$615K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOT_USDT	+0.0100%	4h	0.0005118	+0.002%	$143K	$80K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005114	−0.076%	$1.4M	$466K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005111	−0.135%	$467K	$135K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005119	+0.021%	$672K	$396K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005114	−0.076%	—	$8.9M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005112	−0.111%	$4K	$491	5x	as long as short