Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.2329%/8h= −255.1% APRpaid last 24h −0.549%

Price spread now: Kraken Futures against MEXC−0.182%7-day average — · you buy dearer than you sell

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

Long on MEXC 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 −$70 a day on $10k at the current rate, and Kraken Futures is 0.182% cheaper against MEXC than usual: you would sell low and buy high (−$18 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	MEXC S_USDT	0.04003	0.0100	pay 0.0050% / 4h	3h 53m	$3.7M	$1.7M	200x
Short	Kraken Futures PF_SUSD	0.03996	−0.2229	pay 0.0279% / 1h	53m 13s	$33K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.182%Rate

Funding earned: −$489.17
Price spread: −0.182% → 0.000%: −$18.23
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$521.4
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 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 MEXC live order book, 4 min ago	1.26 bp	5.2 bp −$5	63.6 bp −$636	606.3 bp −$60.6K	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
Kraken Futures PF_SUSDshort	−0.2229%	1h	0.03996	−0.182%	$33K	$13K	10x
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03928	−1.874%	$47K	$16K	25x	as long as short
01 Exchange SUSD	−0.1056%	1h	0.03960	−1.074%	$25K	$2K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04000	−0.065%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04000	−0.085%	$4	—	15x	as long as short
Variational Omni S	−0.0033%	4h	0.04003	−0.005%	$620K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04001	−0.057%	$617	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.423%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0076%	4h	0.04002	−0.025%	$99K	$270K	10x	as long as short
Lighter S	+0.0096%	1h	0.04005	+0.050%	$168K	$155K	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	0.04000	−0.082%	$1.0M	$592K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04004	+0.027%	$44K	$140K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04003	−0.005%	$5.6M	$14.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03997	−0.150%	$5.7M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04000	−0.075%	$1.0M	$3.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03995	−0.200%	$326K	$189K	50x	as long as short
MEXC S_USDTlong	+0.0100%	4h	0.04003	long leg	$3.7M	$1.7M	200x
KuCoin SUSDTM	+0.0100%	4h	0.03998	−0.125%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04001	−0.050%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03997	−0.150%	—	$6.8M	—	as long as short
Extended S-USD	+0.0104%	1h	0.04000	−0.072%	$225K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04008	+0.125%	$269K	$103K	75x	as long as short
ApeX Omni SUSDT	+0.0680%	1h	0.04000	−0.075%	$24K	$461K	50x	as long as short
Deribit S_USDC-PERPETUAL	+0.1000%	1h	0.04006	+0.075%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2317%	1h	0.04010	+0.175%	$117K	$424K	5x	as long as short