Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h +0.003%

Price spread now: KuCoin against Kraken Futures−0.396%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$950.952% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 3 days (all we have)+0.206%+$21 · spread now −0.396%, 7d avg −0.064%

Together, before fees+0.235%+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and KuCoin is 0.332% cheaper against Kraken Futures than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.064%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2491	0.0039	pay 0.0005% / 1h	28m 42s	$654K	$2.2M	50x
Short	KuCoin WIFUSDTM	0.2481	−0.0030	pay 0.0015% / 4h	3h 28m	$4.4M	$12.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.396%Rate

Funding earned: −$14.46
Price spread: −0.396% → −0.064%: −$33.21
Slippage, 4 orders: −$73.2
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$142.87
Costs to cover: 0.952%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; KuCoin: live order book, 5 min ago.

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 live order book, 5 min ago	10.05 bp	25.3 bp −$25	107.5 bp −$1,075	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	4.03 bp	19.1 bp −$19	60.0 bp −$600	doesn't fit	doesn't fit

WIF on 32 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
Backpack WIF_USDC_PERP	−0.0312%	1h	0.2486	−0.199%	$76K	$254K	10x	as long as short
Gate WIF_USDT	−0.0200%	4h	0.2481	−0.396%	$1.2M	$7.1M	50x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0151%	1h	0.2491	+0.006%	$49K	$289K	25x	as long as short
KuCoin WIFUSDTMshort	−0.0030%	4h	0.2481	−0.396%	$4.4M	$12.1M	75x
dYdX WIF-USD	0.0000%	1h	0.2483	−0.331%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2492	+0.026%	$12K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.837%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0039%	1h	0.2491	long leg	$654K	$2.2M	50x
Orderly PERP_WIF_USDC	+0.0096%	4h	0.2490	−0.034%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2484	−0.263%	$142K	$588K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDT	+0.0096%	1h	0.2495	+0.166%	$56K	$484K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2486	−0.206%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2483	−0.307%	$77K	$52K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2485	−0.241%	$19.1M	$107.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2482	−0.352%	$17.2M	$36.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2482	−0.356%	$6.0M	$33.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2484	−0.275%	$22.5M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2483	−0.315%	$7.6M	$12.1M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2481	−0.396%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2487	−0.150%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2492	+0.046%	$281K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2490	−0.034%	$43K	$632K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2490	−0.034%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2489	−0.058%	$568	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2489	−0.075%	$171K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2482	−0.357%	$11K	$151K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2490	−0.030%	$83K	$85	3x	as long as short
Hyperliquid WIF	+0.0177%	1h	0.2487	−0.135%	$7.9M	$4.3M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2491	+0.020%	$7K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2494	+0.126%	$335K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2494	+0.126%	$1.0M	$746K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2494	+0.111%	$0	—	15x	as long as short