Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2129%/8h= +233.1% APRpaid last 24h +0.490%

Price spread now: Binance against Kraken Futures−0.016%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 Binance

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$64 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SUSD	0.03981	−0.2029	get 0.0254% / 1h	39m 59s	$34K	$23K	10x
Short	Binance SUSDT	0.03981	0.0100	get 0.0050% / 4h	3h 39m	$5.5M	$16.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.016%Rate

Funding earned: $447.11
Price spread: −0.016% → 0.000%: −$1.57
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $425.55
Costs to cover: 0.200%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 16 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 Binance live order book, 16 min ago	2.53 bp	21.6 bp −$22	59.9 bp −$599	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.

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	−0.4800%	1h	0.03980	−0.029%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSDlong	−0.2029%	1h	0.03981	long leg	$34K	$23K	10x
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03826	−3.897%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0898%	4h	0.03979	−0.057%	$619K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03983	+0.052%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03980	−0.019%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03983	+0.046%	$614	—	150x	as long as short
Orderly PERP_S_USDC	+0.0023%	4h	0.03982	+0.022%	$101K	$335K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.986%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03985	+0.097%	$162K	$191K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03981	−0.016%	$996K	$647K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03985	+0.099%	$44K	$141K	10x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.03981	−0.016%	$5.5M	$16.2M	75x
Bybit SUSDT	+0.0100%	4h	0.03973	−0.205%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03974	−0.179%	$983K	$4.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03984	+0.072%	$326K	$216K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03980	−0.029%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03984	+0.072%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03982	+0.022%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03980	−0.029%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03990	+0.223%	$116K	$317K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03970	−0.280%	$26K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03974	−0.187%	$225K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03982	+0.022%	$268K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0503%	1h	0.03987	+0.147%	$67K	$10K	10x	as long as short