Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.2129%/8h= −233.1% APRpaid last 24h −0.482%

Price spread now: Kraken Futures against KuCoin−0.101%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 −$64 a day on $10k at the current rate, and Kraken Futures is 0.101% cheaper against KuCoin than usual: you would sell low and buy high (−$10 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	KuCoin SUSDTM	0.03985	0.0100	pay 0.0050% / 4h	3h 36m	$1.8M	$2.9M	50x
Short	Kraken Futures PF_SUSD	0.03981	−0.2029	pay 0.0254% / 1h	36m 12s	$34K	$23K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$447.13
Price spread: −0.101% → 0.000%: −$10.09
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$479.22
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 11 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 KuCoin live order book, 11 min ago	3.77 bp	87.4 bp −$87	268.7 bp −$2,687	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	−0.3960%	1h	0.03980	−0.125%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.2029%	1h	0.03981	−0.101%	$34K	$23K	10x
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03826	−3.990%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0873%	4h	0.03979	−0.153%	$618K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03985	+0.008%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03982	−0.078%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03985	+0.006%	$614	—	150x	as long as short
Orderly PERP_S_USDC	+0.0022%	4h	0.03982	−0.075%	$101K	$335K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.886%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03986	+0.025%	$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	0.03985	−0.010%	$997K	$629K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03983	−0.047%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03981	−0.100%	$5.5M	$16.1M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03977	−0.201%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03980	−0.125%	$981K	$4.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03977	−0.201%	$325K	$216K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03983	−0.050%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.03985	long leg	$1.8M	$2.9M	50x
Bitget SUSDT	+0.0100%	4h	0.03985	0.000%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03980	−0.125%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03990	+0.125%	$116K	$320K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03970	−0.376%	$26K	$446K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03981	−0.109%	$224K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0252%	1h	0.03987	+0.050%	$67K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03977	−0.201%	$269K	$126K	75x	as long as short