Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0283%/8h= −31.0% APRpaid last 24h −0.043%

Price spread now: Bitget against Kraken Futures−0.106%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 Bitget

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 against this trade now: funding costs −$9 a day on $10k at the current rate, and Bitget is 0.106% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ALTUSD	0.007481	0.0383	pay 0.0048% / 1h	26m 10s	$44K	$8K	10x
Short	Bitget ALTUSDT	0.007473	0.0100	get 0.0050% / 4h	3h 26m	$597K	$148K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.106%Rate

Funding earned: −$59.52
Price spread: −0.106% → 0.000%: −$10.64
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$92.16
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago	5.36 bp	27.0 bp −$27	123.9 bp −$1,239	doesn't fit	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.

ALT on 14 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 ALT_USDC-PERPETUAL	0.0000%	1h	0.007482	+0.014%	—	$0	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007691	+2.808%	$837	$22	5.5x	as long as short
BloFin ALT-USDT	+0.0094%	4h	0.007474	−0.093%	$168K	$8K	50x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007478	−0.040%	$1.1M	$132K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007481	0.000%	$2.6M	$3.5M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007475	−0.080%	$1.2M	$1.7M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007474	−0.093%	$50K	$379K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007479	−0.026%	$363K	$169K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007485	+0.054%	$144K	$20K	30x	as long as short
Bitget ALTUSDTshort	+0.0100%	4h	0.007473	−0.106%	$597K	$148K	50x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ALT-USDT	+0.0100%	4h	0.007478	−0.040%	—	$1.3M	—	as long as short
Variational Omni ALT	+0.0100%	4h	0.007469	−0.163%	$4K	$14K	—	as long as short
Kraken Futures PF_ALTUSDlong	+0.0383%	1h	0.007481	long leg	$44K	$8K	10x
Coinbase International ALT-PERP-INTX	+0.0576%	1h	0.007524	+0.575%	$13K	$2K	50x	as long as short