Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0541%/8h= +59.3% APRpaid last 24h −0.032%

Price spread now: Kraken Futures against KuCoin−0.388%7-day average +0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$920.924% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 3 days (all we have)+0.716%+$72 · spread now −0.388%, 7d avg +0.067%

Together, before fees+0.686%+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.455% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.388% now, against its 7-day average of +0.067%). If the spread goes back, that is −$45 on $10k: about 2.8 days of funding at the current rate (+$16 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.030% in total (about -1.6% 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	KuCoin WIFUSDTM	0.2368	−0.0158	get 0.0079% / 4h	1h 59m	$4.2M	$11.2M	75x
Short	Kraken Futures PF_WIFUSD	0.2359	0.0383	get 0.0048% / 1h	59m 06s	$624K	$2.1M	50x

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 −0.388%Rate

Funding earned: $113.71
Price spread: −0.388% → +0.067%: −$45.46
Slippage, 4 orders: −$70.44
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$24.19
Costs to cover: 0.924%
Break-even: 8.5 days

Slippage from KuCoin: live order book, 9 min ago; Kraken Futures: live order book, 4 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 KuCoin live order book, 9 min ago	4.22 bp	23.5 bp −$23	68.5 bp −$685	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	6.34 bp	19.5 bp −$19	43.2 bp −$432	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
Deribit WIF_USDC-PERPETUAL	−0.0172%	1h	0.2371	+0.127%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTMlong	−0.0158%	4h	0.2368	long leg	$4.2M	$11.2M	75x
Backpack WIF_USDC_PERP	−0.0105%	1h	0.2371	+0.139%	$74K	$235K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2366	−0.094%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2371	+0.114%	$14K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	+1.140%	$10K	$10K	12x	as long as short
Variational Omni WIF	+0.0054%	4h	0.2364	−0.151%	$67K	$65K	—	as long as short
Aster WIFUSDT	+0.0073%	4h	0.2372	+0.189%	$24K	$255K	10x	as long as short
Gate WIF_USDT	+0.0088%	4h	0.2371	+0.127%	$1.2M	$6.9M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2370	+0.084%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter WIF	+0.0096%	1h	0.2371	+0.122%	$131K	$541K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2370	+0.084%	$52K	$482K	20x	as long as short
Pacifica WIF	+0.0100%	1h	0.2365	−0.126%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2373	+0.194%	$17.6M	$99.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2372	+0.152%	$16.6M	$34.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2370	+0.084%	$6.1M	$30.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2372	+0.169%	$21.2M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2373	+0.211%	$7.2M	$11.6M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2367	−0.042%	—	$2.3M	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2366	−0.085%	$272K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2366	−0.084%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2361	−0.296%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2371	+0.106%	$543	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2362	−0.253%	$163K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2370	+0.092%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2371	+0.106%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0174% / S −0.0919%	1h	0.2371	+0.130%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2372	+0.169%	$311K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2371	+0.127%	$972K	$690K	75x	as long as short
Hyperliquid WIF	+0.0359%	1h	0.2376	+0.317%	$7.4M	$4.0M	5x	as long as short
Kraken Futures PF_WIFUSDshort	+0.0383%	1h	0.2359	−0.388%	$624K	$2.1M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2370	+0.101%	$0	—	15x	as long as short