Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1552%/8h= −169.9% APRpaid last 24h −0.480%

Price spread now: Kraken Futures against Bitget−0.026%7-day average — · you buy dearer than you sell

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

Long on Bitget 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

Both sides work against this trade now: funding costs −$47 a day on $10k at the current rate, and Kraken Futures is 0.026% cheaper against Bitget than usual: you would sell low and buy high (−$3 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	Bitget SUSDT	0.03932	0.0100	pay 0.0050% / 4h	2h 47m	$1.2M	$3.1M	50x
Short	Kraken Futures PF_SUSD	0.03931	−0.1452	pay 0.0181% / 1h	47m 59s	$33K	$33K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$325.87
Price spread: −0.026% → 0.000%: −$2.59
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$350.46
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	6.37 bp	23.9 bp −$24	88.1 bp −$881	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.

S on 25 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_SUSDshort	−0.1452%	1h	0.03931	−0.026%	$33K	$33K	10x
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.696%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1204%	4h	0.03923	−0.228%	$610K	$38K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03938	+0.140%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03931	−0.023%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0056%	1h	0.03930	−0.051%	$24K	$3K	5x	as long as short
Aster SUSDT	−0.0034%	4h	0.03937	+0.126%	$43K	$212K	10x	as long as short
Orderly PERP_S_USDC	−0.0019%	4h	0.03933	+0.025%	$101K	$340K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03937	+0.124%	$607	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0004%	1h	0.03940	+0.203%	$66K	$10K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.273%	$2K	$37K	12x	as long as short
OKX S-USDT-SWAP	+0.0088%	4h	0.03933	+0.025%	$978K	$7.8M	20x	as long as short
Lighter S	+0.0096%	1h	0.03937	+0.127%	$165K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03934	+0.046%	$992K	$928K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03934	+0.051%	$5.4M	$24.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03929	−0.076%	$5.6M	$6.6M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.03928	−0.102%	$321K	$291K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03934	+0.051%	$3.5M	$2.5M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03930	−0.051%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDTlong	+0.0100%	4h	0.03932	long leg	$1.2M	$3.1M	50x
BingX S-USDT	+0.0100%	4h	0.03932	0.000%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.051%	$23K	$474K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03933	+0.016%	$221K	$883K	10x	as long as short
Backpack S_USDC_PERP	+0.0299%	1h	0.03940	+0.203%	$115K	$285K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03928	−0.102%	$274K	$179K	75x	as long as short