Funding arb · Price arb /

UMA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1834%/8h= +200.9% APRpaid last 24h +0.420%

Price spread now: Kraken Futures against OKX+0.230%7-day average — · you sell dearer than you buy

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 for this trade now. Funding pays +$55 a day on $10k at the current rate, and Kraken Futures is 0.230% dearer against OKX than usual: you sell high and buy low: +$23 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	OKX UMA-USDT-SWAP	0.4051	0.0100	pay 0.0050% / 4h	23m 07s	$315K	$236K	10x
Short	Kraken Futures PF_UMAUSD	0.4060	0.1934	get 0.0242% / 1h	23m 07s	$14K	$5K	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 +0.230%Rate

Funding earned: $385.2
Price spread: +0.230% → 0.000%: $23.03
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $388.23
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: OKX: live order book, 12 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, 12 min ago	6.17 bp	28.1 bp −$28	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
Hyperliquid UMA	+0.0100%	1h	0.4053	+0.054%	$213K	$63K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4048	−0.074%	$25K	$769	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4049	−0.051%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4049	−0.049%	$679K	$142K	25x	as long as short
OKX UMA-USDT-SWAPlong	+0.0100%	4h	0.4051	long leg	$315K	$236K	10x
Gate UMA_USDT	+0.0100%	4h	0.4051	0.000%	$77K	$41K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4050	−0.025%	$213K	$172K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4047	−0.099%	$156K	$62K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4056	+0.123%	$979K	$65K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4048	−0.074%	—	$2.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMA	+0.0100%	4h	0.4046	−0.117%	$5K	$7	—	as long as short
BloFin UMA-USDT	+0.0121%	4h	0.4041	−0.247%	$74K	$7K	50x	as long as short
Kraken Futures PF_UMAUSDshort	+0.1934%	1h	0.4060	+0.230%	$14K	$5K	10x