Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.4091%/8h= +447.9% APRpaid last 24h +0.795%

Price spread now: Kraken Futures against OKX−0.194%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Kraken Futures

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. Kraken Futures is 0.194% cheaper against OKX than usual: you would sell low and buy high (spread −0.194% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 4 hours of funding at the current rate (+$123 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NOT-USDT-SWAP	0.0005100	0.0100	pay 0.0050% / 4h	48m 43s	$623K	$600K	20x
Short	Kraken Futures PF_NOTUSD	0.0005090	0.4191	get 0.0524% / 1h	48m 43s	$50K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now −0.194%Rate

Funding earned: $859.07
Price spread: −0.194% → 0.000%: −$19.44
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $819.63
Costs to cover: 0.200%
Break-even: 0.3 days

Slippage unknown: OKX: live order book, 27 min ago; Kraken Futures: no order-book sample. 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 OKX live order book, 27 min ago	1.99 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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	−0.0092%	4h	0.0005091	−0.179%	$72K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.431%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005105	+0.106%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005100	0.000%	$373K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005097	−0.053%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005096	−0.078%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005091	−0.176%	$2.1M	$821K	25x	as long as short
OKX NOT-USDT-SWAPlong	+0.0100%	4h	0.0005100	long leg	$623K	$600K	20x
Gate NOT_USDT	+0.0100%	4h	0.0005088	−0.235%	$141K	$78K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005095	−0.098%	$1.4M	$458K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005089	−0.216%	$465K	$137K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005101	+0.020%	$670K	$382K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005094	−0.118%	—	$722K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005092	−0.155%	$4K	$1K	5x	as long as short
BloFin NOT-USDT	+0.0155%	4h	0.0005091	−0.176%	$111K	$17K	50x	as long as short
Kraken Futures PF_NOTUSDshort	+0.4191%	1h	0.0005090	−0.194%	$50K	$10K	10x