Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.4637%/8h= −507.7% APRpaid last 24h −0.581%

Price spread now: Kraken Futures against OKX−0.401%7-day average — · you buy dearer than you sell

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

Long on OKX 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 −$139 a day on $10k at the current rate, and Kraken Futures is 0.401% cheaper against OKX than usual: you would sell low and buy high (−$40 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	OKX S-USDT-SWAP	0.04645	0.0100	pay 0.0050% / 4h	1h 30m	$1.4M	$6.7M	20x
Short	Kraken Futures PF_SUSD	0.04626	−0.4537	pay 0.0567% / 1h	30m 43s	$39K	$28K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now −0.401%Rate

Funding earned: −$973.67
Price spread: −0.401% → 0.000%: −$40.07
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,033.74
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	5.34 bp	30.2 bp −$30	166.3 bp −$1,663	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 exchanges

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	−1.0448%	1h	0.04470	−3.767%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.4537%	1h	0.04626	−0.401%	$39K	$28K	10x
Coinbase International S-PERP-INTX	−0.1904%	1h	0.04128	−11.130%	$50K	$18K	25x	as long as short
Variational Omni S	−0.0901%	4h	0.04639	−0.131%	$743K	$43K	—	as long as short
Deribit S_USDC-PERPETUAL	−0.0394%	1h	0.04656	+0.237%	$78K	$623	10x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0336% / S +0.0211%	1h	0.04656	+0.235%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04637	−0.164%	$5	—	15x	as long as short
Orderly PERP_S_USDC	−0.0049%	4h	0.04649	+0.086%	$115K	$641K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04624	−0.462%	$713	—	150x	as long as short
Lighter S	+0.0096%	1h	0.04649	+0.086%	$163K	$144K	5x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04650	+0.112%	$1.2M	$924K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04652	+0.154%	$49K	$155K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04649	+0.093%	$7.2M	$21.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04640	−0.108%	$6.6M	$5.8M	50x	as long as short
OKX S-USDT-SWAPlong	+0.0100%	4h	0.04645	long leg	$1.4M	$6.7M	20x
Gate S_USDT	+0.0100%	4h	0.04642	−0.065%	$398K	$249K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04648	+0.065%	$4.3M	$3.2M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04648	+0.065%	$2.2M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04648	+0.065%	$1.4M	$3.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04645	0.000%	—	$7.1M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04680	+0.753%	$25K	$528K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04637	−0.166%	$251K	$1.3M	10x	as long as short
Injective S/USDC PERP	+0.0140%	1h	0.04600	−0.969%	$2K	$2	12x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04633	−0.258%	$335K	$237K	75x	as long as short
Backpack S_USDC_PERP	+0.0703%	1h	0.04650	+0.108%	$106K	$460K	5x	as long as short