Funding arb · Price arb /

RUNE

all RUNE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0590%/8h= −64.6% APRnext payment −$0.74 per $10,000 · paid last 24h —

Price spread now: Deribit against Kraken Futures−0.270%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 Deribit

What this pair did over the last

the charts below follow

Funding, last 3 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 −$18 a day on $10k at the current rate, and Deribit is 0.270% cheaper against Kraken Futures than usual: you would sell low and buy high (−$27 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_RUNEUSD	0.6666	0.0590	pay 0.0074% / 1h	56m 54s	$196K	$233K	20x
Short	Deribit RUNE_USDC-PERPETUAL	0.6648	0	get 0.0000% / 1h	56m 54s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.270%Rate

Funding earned: −$123.82
Price spread: −0.270% → 0.000%: −$27.01
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$167.83
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 16 min ago; Deribit: 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 Kraken Futures live order book, 16 min ago	11.58 bp	48.8 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

RUNE 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
dYdX RUNE-USD	0.0000%	1h	0.6599	−1.005%	$56K	$5K	5x	as long as short
Deribit RUNE_USDC-PERPETUALshort	0.0000%	1h	0.6648	−0.270%	—	—	10x
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−7.666%	$7	$14	12x	as long as short
Coinbase International RUNE-PERP-INTX	+0.0056%	1h	0.6322	−5.161%	$38K	$31K	25x	as long as short
BloFin RUNE-USDT	+0.0077%	8h	0.6649	−0.255%	$467K	$187K	75x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6665	−0.015%	$5.2M	$11.9M	75x	as long as short
Bybit RUNEUSDT	+0.0100%	8h	0.6666	0.000%	$3.0M	$2.0M	75x	as long as short
Gate RUNE_USDT	+0.0100%	8h	0.6665	−0.015%	$686K	$319K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6665	−0.015%	$3.8M	$2.3M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6662	−0.060%	$932K	$226K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget RUNEUSDT	+0.0100%	8h	0.6673	+0.105%	$1.6M	$620K	50x	as long as short
BingX RUNE-USDT	+0.0100%	8h	0.6669	+0.045%	—	$59.1M	—	as long as short
Variational Omni RUNE	+0.0100%	8h	0.6595	−1.071%	$130K	$8K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6659	−0.099%	$4K	$165K	10x	as long as short
Kraken Futures PF_RUNEUSDlong	+0.0590%	1h	0.6666	long leg	$196K	$233K	20x
Hyperliquid RUNE	+0.1025%	1h	0.6675	+0.141%	$1.8M	$955K	5x	as long as short