Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2135%/8h= +233.8% APRpaid last 24h +0.490%

Price spread now: MEXC against Kraken Futures+0.159%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 MEXC

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 +$64 a day on $10k at the current rate, and MEXC is 0.159% dearer against Kraken Futures than usual: you sell high and buy low: +$16 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	0.03970	−0.2035	get 0.0254% / 1h	38m 13s	$34K	$23K	10x
Short	MEXC S_USDT	0.03976	0.0100	get 0.0050% / 4h	3h 38m	$3.7M	$1.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.159%Rate

Funding earned: $448.34
Price spread: +0.159% → 0.000%: $15.9
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: $450.25
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 4 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 MEXC live order book, 4 min ago	1.25 bp	4.7 bp −$5	39.9 bp −$399	256.3 bp −$25.6K	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	−0.4336%	1h	0.03970	+0.008%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSDlong	−0.2035%	1h	0.03970	long leg	$34K	$23K	10x
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03826	−3.620%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0898%	4h	0.03979	+0.232%	$619K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03974	+0.109%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03971	+0.043%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03973	+0.090%	$612	—	150x	as long as short
Orderly PERP_S_USDC	+0.0022%	4h	0.03972	+0.058%	$101K	$335K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.283%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03976	+0.159%	$161K	$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	0.03972	+0.068%	$994K	$629K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03971	+0.044%	$43K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03975	+0.134%	$5.4M	$16.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03974	+0.109%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03979	+0.235%	$981K	$4.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03964	−0.143%	$324K	$216K	50x	as long as short
MEXC S_USDTshort	+0.0100%	4h	0.03976	+0.159%	$3.7M	$1.9M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03978	+0.209%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03981	+0.285%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03979	+0.235%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03980	+0.260%	$116K	$320K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03980	+0.260%	$26K	$446K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03968	−0.051%	$224K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03982	+0.310%	$269K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0505%	1h	0.03978	+0.209%	$67K	$10K	10x	as long as short