Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1703%/8h= +186.5% APRpaid last 24h +0.480%

Price spread now: Gate against Kraken Futures+0.119%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Gate

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 for this trade now. Funding pays +$51 a day on $10k at the current rate, and Gate is 0.119% dearer against Kraken Futures than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SUSD	0.03898	−0.1603	get 0.0200% / 1h	12m 16s	$33K	$26K	10x
Short	Gate S_USDT	0.03903	0.0100	get 0.0050% / 4h	1h 12m	$319K	$265K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.119%Rate

Funding earned: $357.66
Price spread: +0.119% → 0.000%: $11.86
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $344.52
Costs to cover: 0.250%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	5.13 bp	79.4 bp −$79	doesn't fit	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
Kraken Futures PF_SUSDlong	−0.1603%	1h	0.03898	long leg	$33K	$26K	10x
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−1.857%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0917%	4h	0.03893	−0.150%	$606K	$31K	—	as long as short
01 Exchange SUSD	−0.0896%	1h	0.03800	−2.523%	$23K	$2K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0197% / S +0.0191%	1h	0.03903	+0.116%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03899	+0.022%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03903	+0.125%	$602	—	150x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03901	+0.067%	$99K	$343K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.172%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03905	+0.170%	$164K	$223K	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	0.03901	+0.067%	$979K	$716K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03902	+0.090%	$43K	$212K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03900	+0.038%	$5.3M	$18.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03892	−0.164%	$5.5M	$5.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03898	−0.010%	$975K	$5.4M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.03903	+0.119%	$319K	$265K	50x
MEXC S_USDT	+0.0100%	4h	0.03899	+0.016%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03897	−0.035%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03903	+0.119%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03899	+0.016%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.298%	$25K	$460K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03898	−0.004%	$219K	$877K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0262%	1h	0.03906	+0.196%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03904	+0.144%	$266K	$125K	75x	as long as short
Backpack S_USDC_PERP	+0.0445%	1h	0.03910	+0.298%	$114K	$300K	5x	as long as short