Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1324%/8h= +145.0% APRpaid last 24h +0.292%

Price spread now: Binance against Kraken Futures+0.138%7-day average −0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs+$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1171.174% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+1.411%+$141 on $10k

Price spread, last 4 days (all we have)+0.299%+$30 · spread now +0.138%, 7d avg −0.088%

Together, before fees+1.710%+$171 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and Binance is 0.226% dearer against Kraken Futures than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of −0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARUSD	4.4068	−0.1224	get 0.0153% / 1h	21m 22s	$59K	$143K	20x
Short	Binance ARUSDT	4.4129	0.0100	get 0.0100% / 8h	3h 21m	$8.7M	$50.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.138%Rate

Funding earned: $278.08
Price spread: +0.138% → −0.088%: $22.57
Slippage, 4 orders: −$97.38
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $183.27
Costs to cover: 1.174%
Break-even: 2.4 days

Slippage from Kraken Futures: live order book, 31 min ago; Binance: live order book, 6 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 Kraken Futures live order book, 31 min ago	30.48 bp	40.0 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	1.14 bp	16.1 bp −$16	47.9 bp −$479	320.3 bp −$32.0K	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_ARUSDlong	−0.1224%	1h	4.4068	long leg	$59K	$143K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.4127	+0.134%	$567K	—	50x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4114	+0.105%	$30K	$467K	10x	as long as short
Binance ARUSDTshort	+0.0100%	8h	4.4129	+0.138%	$8.7M	$50.6M	75x
Bybit ARUSDT	+0.0100%	8h	4.4123	+0.125%	$4.5M	$8.5M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4100	+0.072%	$2.2M	$17.5M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4170	+0.231%	$2.5M	$1.9M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4130	+0.141%	$6.1M	$4.2M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4140	+0.163%	$1.1M	$1.3M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4120	+0.118%	$3.8M	$5.2M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AR-USDT	+0.0100%	8h	4.4130	+0.141%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.3942	−0.286%	$233K	$414K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3860	−0.472%	$19K	$714K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4116	+0.109%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3850	−0.495%	$414K	$468K	20x	as long as short
Hyperliquid AR	+0.0331%	1h	4.4168	+0.227%	$3.8M	$4.4M	5x	as long as short
Injective AR/USDC PERP	+0.0433%	1h	4.4240	+0.390%	$2K	$5K	5.5x	as long as short