Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0688%/8h= +75.3% APRpaid last 24h −0.388%

Price spread now: Kraken Futures against Bitget+0.215%7-day average +0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$292as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1371.373% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.549%−$155 on $10k

Price spread, last 4 days (all we have)−0.915%−$92 · spread now +0.215%, 7d avg +0.155%

Together, before fees−2.464%−$246 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Kraken Futures is 0.061% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.155%. Mind the row above: over the last 7 days funding on this pair cost −1.549%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ARUSDT	4.3390	0.0100	pay 0.0100% / 8h	5h 56m	$3.8M	$4.5M	75x
Short	Kraken Futures PF_ARUSD	4.3483	0.0788	get 0.0098% / 1h	56m 52s	$47K	$154K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.215%Rate

Funding earned: $144.4
Price spread: +0.215% → +0.155%: $6.05
Slippage, 4 orders: −$115.32
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $13.13
Costs to cover: 1.373%
Break-even: 6.4 days

Slippage from Bitget: live order book, 4 min ago; Kraken Futures: live order book, 53 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 Bitget live order book, 4 min ago	4.62 bp	15.6 bp −$16	59.9 bp −$599	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 53 min ago	31.28 bp	43.6 bp −$44	doesn't fit	doesn't fit	doesn't fit

AR on 17 exchanges

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
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.3311	−0.182%	$556K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+1.959%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.3457	+0.154%	$3.9M	$3.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3355	−0.080%	$31K	$194K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3380	−0.023%	$8.5M	$40.5M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3428	+0.088%	$4.4M	$7.6M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3380	−0.023%	$2.3M	$12.5M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.3380	−0.023%	$2.3M	$3.6M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.3380	−0.023%	$6.4M	$3.4M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.3370	−0.046%	$1.1M	$1.1M	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDTlong	+0.0100%	8h	4.3390	long leg	$3.8M	$4.5M	75x
BingX AR-USDT	+0.0100%	8h	4.3400	+0.023%	—	$2.7M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3235	−0.358%	$246K	$509K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3290	−0.230%	$21K	$700K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3367	−0.054%	$36K	$248K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3370	−0.046%	$417K	$369K	20x	as long as short
Kraken Futures PF_ARUSDshort	+0.0788%	1h	4.3483	+0.215%	$47K	$154K	20x