Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1024%/8h= −112.2% APRpaid last 24h −0.274%

Price spread now: Kraken Futures against Gate+0.020%7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$332as in the Funding arb table

Net, price: spread back to 7d avg − costs−$201as in the Price arb table

costs, in and out, $10k−$1921.922% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.398%−$140 on $10k

Price spread, last 4 days (all we have)−0.189%−$19 · spread now +0.020%, 7d avg +0.111%

Together, before fees−1.588%−$159 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Kraken Futures is 0.091% cheaper against Gate than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.111%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AR_USDT	4.1690	0.0100	pay 0.0100% / 8h	2h 29m	$2.2M	$2.8M	50x
Short	Kraken Futures PF_ARUSD	4.1698	−0.0924	pay 0.0116% / 1h	29m 09s	$51K	$179K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$215.09
Price spread: +0.020% → +0.111%: −$9.11
Slippage, 4 orders: −$167.16
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$416.35
Costs to cover: 1.922%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Kraken Futures: live order book, 18 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 Gate live order book, 4 min ago	3.58 bp	38.8 bp −$39	323.4 bp −$3,234	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 18 min ago	27.60 bp	37.5 bp −$38	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	−0.0924%	1h	4.1698	+0.020%	$51K	$179K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.1799	+0.261%	$536K	—	50x	as long as short
Hyperliquid AR	+0.0100%	1h	4.1807	+0.281%	$3.4M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.1771	+0.193%	$37K	$464K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.1769	+0.190%	$8.2M	$52.1M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.1752	+0.149%	$4.2M	$9.2M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.1760	+0.168%	$2.1M	$16.8M	20x	as long as short
Gate AR_USDTlong	+0.0100%	8h	4.1690	long leg	$2.2M	$2.8M	50x
MEXC AR_USDT	+0.0100%	8h	4.1760	+0.168%	$5.7M	$4.3M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.1740	+0.120%	$1.0M	$1.3M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.1770	+0.192%	$3.7M	$5.5M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.1750	+0.144%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.1749	+0.140%	$234K	$626K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.1980	+0.696%	$20K	$717K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.1762	+0.173%	$36K	$248K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.1820	+0.312%	$416K	$454K	20x	as long as short
Injective AR/USDC PERP	+0.0666%	1h	4.4240	+6.117%	$2K	$5K	5.5x	as long as short