Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1106%/8h= +121.1% APRpaid last 24h +0.369%

Price spread now: MEXC against Kraken Futures+0.249%51s7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs+$26as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1191.194% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+1.457%+$146 on $10k

Price spread, last 4 days (all we have)+1.530%+$153 · spread now +0.249%, 7d avg −0.065%

Together, before fees+2.987%+$299 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and MEXC is 0.314% dearer against Kraken Futures than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of −0.065%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARUSD	4.2893	−0.1006	get 0.0126% / 1h	21m 23s	$53K	$133K	20x
Short	MEXC AR_USDT	4.3000	0.0100	get 0.0100% / 8h	7h 21m	$6.1M	$3.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.249%Rate

Funding earned: $232.32
Price spread: +0.249% → −0.065%: $31.4
Slippage, 4 orders: −$105.39
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: $144.32
Costs to cover: 1.194%
Break-even: 2.7 days

Slippage from Kraken Futures: live order book, 11 min ago; MEXC: live order book, 1 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, 11 min ago	50.39 bp	56.5 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.16 bp	3.2 bp −$3	13.1 bp −$131	206.4 bp −$20.6K	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	−0.1006%	1h	4.2893	long leg	$53K	$133K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.3005	+0.261%	$552K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+3.140%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.3039	+0.340%	$3.8M	$4.3M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3028	+0.315%	$32K	$243K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3051	+0.367%	$8.5M	$43.2M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3067	+0.406%	$4.5M	$8.1M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3060	+0.389%	$2.3M	$14.0M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.3010	+0.273%	$2.0M	$3.1M	50x	as long as short
MEXC AR_USDTshort	+0.0100%	8h	4.3000	+0.249%	$6.1M	$3.7M	100x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.2960	+0.156%	$1.1M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.2970	+0.179%	$3.7M	$4.7M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.3050	+0.366%	—	$2.7M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2652	−0.563%	$245K	$510K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3020	+0.296%	$20K	$706K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.2938	+0.105%	$36K	$240K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3020	+0.296%	$418K	$439K	20x	as long as short