Funding arb · Price arb /

AR

all AR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1964%/8h= −215.1% APRpaid last 24h −0.353%

Price spread now: Kraken Futures against Binance−0.066%7-day average +0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$230as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$870.867% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.433%−$143 on $10k

Price spread, last 3 days (all we have)−0.371%−$37 · spread now −0.066%, 7d avg +0.096%

Together, before fees−1.804%−$180 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$59 a day on $10k at the current rate, and Kraken Futures is 0.162% cheaper against Binance than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.096%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ARUSDT	4.5708	0.0070	pay 0.0070% / 8h	1h 04m	$9.0M	$55.7M	75x
Short	Kraken Futures PF_ARUSD	4.5678	−0.1894	pay 0.0237% / 1h	4m 46s	$46K	$157K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$412.52
Price spread: −0.066% → +0.096%: −$16.19
Slippage, 4 orders: −$66.71
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$515.41
Costs to cover: 0.867%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Kraken Futures: live order book, 13 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 Binance live order book, 7 min ago	2.19 bp	13.2 bp −$13	54.9 bp −$549	389.9 bp −$39.0K	doesn't fit
Sell Kraken Futures live order book, 13 min ago	14.23 bp	27.0 bp −$27	doesn't fit	doesn't fit	doesn't fit

AR on 17 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
Kraken Futures PF_ARUSDshort	−0.1894%	1h	4.5678	−0.066%	$46K	$157K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5711	+0.007%	$587K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+0.027%	$3K	$339	5.5x	as long as short
OKX AR-USDT-SWAP	+0.0036%	8h	4.5640	−0.148%	$2.4M	$20.8M	20x	as long as short
Binance ARUSDTlong	+0.0070%	8h	4.5708	long leg	$9.0M	$55.7M	75x
Extended AR-USD	+0.0072%	1h	4.5681	−0.059%	$37K	$237K	10x	as long as short
MEXC AR_USDT	+0.0073%	8h	4.5700	−0.017%	$6.9M	$4.6M	100x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5800	+0.202%	$4.1M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5687	−0.047%	$20K	$615K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5675	−0.072%	$4.7M	$8.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5720	+0.027%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5730	+0.048%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5740	+0.070%	$3.9M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5670	−0.083%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5729	+0.046%	$139K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5820	+0.245%	$58K	$749K	50x	as long as short
BloFin AR-USDT	+0.0194%	8h	4.5680	−0.061%	$427K	$673K	20x	as long as short