Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.3941%/8h= −431.5% APRpaid last 24h −1.077%

Price spread now: MEXC against Kraken Futures−1.009%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 MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−1.773%−$177 on $10k

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 −$118 a day on $10k at the current rate, and MEXC is 1.009% cheaper against Kraken Futures than usual: you would sell low and buy high (−$101 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.773% in total (about -92.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SUPERUSD	0.1521	0.4041	pay 0.0505% / 1h	55m 40s	$51K	$8K	10x
Short	MEXC SUPER_USDT	0.1506	0.0100	get 0.0050% / 4h	3h 55m	$1.5M	$612K	20x

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 −1.009%Rate

Funding earned: −$827.62
Price spread: −1.009% → 0.000%: −$100.9
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$946.52
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 1 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, 1 min ago	1.33 bp	10.3 bp −$10	51.5 bp −$515	67.1 bp −$6,713	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.

SUPER on 11 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
BingX SUPER-USDT	+0.0036%	4h	0.1507	−0.917%	—	$2.4M	—	as long as short
Hyperliquid SUPER	+0.0100%	1h	0.1510	−0.759%	$502K	$357K	3x	as long as short
Binance SUPERUSDT	+0.0100%	4h	0.1506	−1.021%	$2.3M	$5.7M	50x	as long as short
Bybit SUPERUSDT	+0.0100%	4h	0.1505	−1.081%	$1.1M	$1.6M	25x	as long as short
Gate SUPER_USDT	+0.0100%	8h	0.1507	−0.924%	$130K	$91K	50x	as long as short
MEXC SUPER_USDTshort	+0.0100%	4h	0.1506	−1.009%	$1.5M	$612K	20x
KuCoin SUPERUSDTM	+0.0100%	4h	0.1508	−0.871%	$610K	$181K	50x	as long as short
Bitget SUPERUSDT	+0.0100%	4h	0.1508	−0.858%	$532K	$298K	25x	as long as short
Variational Omni SUPER	+0.0100%	4h	0.1510	−0.746%	$81K	$3K	—	as long as short
BloFin SUPER-USDT	+0.0340%	4h	0.1511	−0.667%	$149K	$101K	75x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SUPERUSDlong	+0.4041%	1h	0.1521	long leg	$51K	$8K	10x