Funding arb · Price arb /

UMA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1801%/8h= +197.2% APRpaid last 24h +0.394%

Price spread now: Kraken Futures against KuCoin+0.053%7-day average — · you sell dearer than you buy

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 for this trade now. Funding pays +$54 a day on $10k at the current rate, and Kraken Futures is 0.053% dearer against KuCoin than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UMAUSDTM	0.4095	0.0100	pay 0.0050% / 4h	2h 58m	$157K	$60K	30x
Short	Kraken Futures PF_UMAUSD	0.4097	0.1901	get 0.0238% / 1h	58m 20s	$15K	$5K	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 +0.053%Rate

Funding earned: $378.2
Price spread: +0.053% → 0.000%: $5.3
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $361.5
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: KuCoin: live order book, 22 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, 22 min ago	13.48 bp	419.4 bp −$419	doesn't fit	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.

UMA on 13 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
BloFin UMA-USDT	+0.0046%	4h	0.4091	−0.098%	$74K	$7K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4091	−0.093%	$220K	$66K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4088	−0.173%	$25K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4087	−0.190%	$1.5M	$1.1M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4094	−0.024%	$700K	$152K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4086	−0.220%	$322K	$225K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4091	−0.098%	$78K	$37K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4090	−0.122%	$206K	$165K	50x	as long as short
KuCoin UMAUSDTMlong	+0.0100%	4h	0.4095	long leg	$157K	$60K	30x
Bitget UMAUSDT	+0.0100%	4h	0.4099	+0.098%	$990K	$57K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4090	−0.122%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4099	+0.091%	$5K	$1	—	as long as short
Kraken Futures PF_UMAUSDshort	+0.1901%	1h	0.4097	+0.053%	$15K	$5K	10x