Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.2233%/8h= −244.5% APRpaid last 24h −0.646%

Price spread now: Kraken Futures against BloFin−0.227%7-day average — · you buy dearer than you sell

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

Long on BloFin 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 −$67 a day on $10k at the current rate, and Kraken Futures is 0.227% cheaper against BloFin than usual: you would sell low and buy high (−$23 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	BloFin S-USDT	0.04183	0.0340	pay 0.0170% / 4h	23m 06s	$285K	$119K	75x
Short	Kraken Futures PF_SUSD	0.04173	−0.1893	pay 0.0237% / 1h	23m 06s	$34K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now −0.227%Rate

Funding earned: −$469
Price spread: −0.227% → 0.000%: −$22.72
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$513.72
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 56 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 BloFin live order book, 56 min ago	3.71 bp	20.4 bp −$20	64.4 bp −$644	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
01 Exchange SUSD	−1.1520%	1h	0.03990	−4.614%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.1893%	1h	0.04173	−0.227%	$34K	$18K	10x
Coinbase International S-PERP-INTX	−0.1064%	1h	0.04073	−2.630%	$49K	$17K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04196	+0.320%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04187	+0.107%	$4	—	15x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.04189	+0.143%	$70K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04189	+0.142%	$646	—	150x	as long as short
Variational Omni S	+0.0006%	4h	0.04166	−0.413%	$647K	$5K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−1.984%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0095%	4h	0.04188	+0.120%	$104K	$596K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.04189	+0.143%	$181K	$142K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.04190	+0.172%	$1.1M	$609K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04189	+0.154%	$45K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04192	+0.208%	$5.9M	$14.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04184	+0.024%	$6.0M	$4.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04190	+0.167%	$1.1M	$4.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04184	+0.024%	$343K	$191K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04193	+0.239%	$4.3M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04190	+0.167%	$1.9M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04188	+0.120%	$1.3M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04193	+0.239%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04170	−0.311%	$24K	$500K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04181	−0.050%	$236K	$1.3M	10x	as long as short
BloFin S-USDTlong	+0.0340%	4h	0.04183	long leg	$285K	$119K	75x
Backpack S_USDC_PERP	+0.1287%	1h	0.04200	+0.406%	$108K	$458K	5x	as long as short