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= +170.0% APRpaid last 24h +0.423%

Price spread now: OKX against Kraken Futures−0.132%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 OKX

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

Funding pays, the price is against you. OKX is 0.132% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.132% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 7 hours of funding at the current rate (+$47 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SUSD	0.03930	−0.1452	get 0.0182% / 1h	20m 51s	$33K	$30K	10x
Short	OKX S-USDT-SWAP	0.03925	0.0100	get 0.0050% / 4h	2h 20m	$977K	$7.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.132%Rate

Funding earned: $325.94
Price spread: −0.132% → 0.000%: −$13.23
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $292.71
Costs to cover: 0.200%
Break-even: 0.7 days

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	1.28 bp	33.7 bp −$34	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	−0.1452%	1h	0.03930	long leg	$33K	$30K	10x
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.651%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0986%	4h	0.03913	−0.441%	$607K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0190% / S +0.0184%	1h	0.03932	+0.051%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03925	−0.137%	$4	—	15x	as long as short
Orderly PERP_S_USDC	−0.0015%	4h	0.03931	+0.020%	$101K	$337K	10x	as long as short
Deribit S_USDC-PERPETUAL	−0.0004%	1h	0.03932	+0.046%	$66K	$10K	10x	as long as short
Aster SUSDT	−0.0002%	4h	0.03932	+0.036%	$43K	$212K	10x	as long as short
01 Exchange SUSD	0.0000%	1h	0.03920	−0.260%	$24K	$3K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03931	+0.028%	$606	—	150x	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	+4.320%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03932	+0.046%	$165K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03928	−0.064%	$991K	$898K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03927	−0.081%	$5.4M	$23.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03922	−0.209%	$5.6M	$6.3M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.03925	−0.132%	$977K	$7.3M	20x
Gate S_USDT	+0.0100%	4h	0.03921	−0.234%	$321K	$292K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03927	−0.081%	$3.5M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03924	−0.158%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03927	−0.081%	$1.2M	$3.0M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03923	−0.183%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.005%	$25K	$471K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03926	−0.119%	$221K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03916	−0.361%	$267K	$158K	75x	as long as short
Backpack S_USDC_PERP	+0.0359%	1h	0.03930	−0.005%	$114K	$291K	5x	as long as short