ARB

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0057%/8h= −6.3% APRnext payment −$0.07 per $10,000 · paid last 24h −0.090%

Price spread now: Kraken Futures against Coinbase International−0.300%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

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

costs, in and out, $10k−$740.744% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.439%−$44 on $10k

Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.300%, 7d avg −0.097%

Together, before fees−0.290%−$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.203% cheaper against Coinbase International than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.097%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ARB-PERP-INTX	0.2214	0.0288	pay 0.0036% / 1h	21m 40s	$527K	$1.6M	50x
Short	Kraken Futures PF_ARBUSD	0.2207	0.0231	get 0.0029% / 1h	21m 40s	$1.1M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Coinbase International. 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 Coinbase InternationalbpFee Kraken FuturesbpOrdersPrice spread, now −0.300%Rate

Funding earned: −$12
Price spread: −0.300% → −0.097%: −$20.33
Slippage, 4 orders: −$54.41
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$106.74
Costs to cover: 0.744%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Kraken Futures: live order book, 2 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 Coinbase International live order book, 2 min ago	9.05 bp	23.3 bp −$23	40.0 bp −$400	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	9.05 bp	14.4 bp −$14	20.8 bp −$208	607.6 bp −$60.8K	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1592%	1h	0.2197	−0.768%	$40K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0192%	1h	0.2207	−0.339%	$67K	$2.1M	10x	as long as short
01 Exchange ARBUSD	−0.0128%	1h	0.2206	−0.375%	$7K	$236	10x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0112%	1h	0.2206	−0.343%	$28K	$38K	25x	as long as short
SoDEX ARB-USD	−0.0104%	1h	0.2205	−0.411%	$9K	$2.2M	5x	as long as short
OKX ARB-USDT-SWAP	−0.0085%	8h	0.2207	−0.325%	$22.1M	$146.1M	50x	as long as short
MEXC ARB_USDT	−0.0084%	8h	0.2207	−0.307%	$41.9M	$62.1M	200x	as long as short
Variational Omni ARB	−0.0048%	8h	0.2208	−0.268%	$1.8M	$3.0M	—	as long as short
Orderly PERP_ARB_USDC	−0.0040%	8h	0.2207	−0.316%	$13K	$408K	10x	as long as short
Bybit ARBUSDT	−0.0011%	8h	0.2208	−0.294%	$54.2M	$126.6M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2210	−0.198%	$65K	$5K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2210	−0.168%	$44K	—	150x	as long as short
Gate ARB_USDT	+0.0034%	8h	0.2208	−0.294%	$5.4M	$18.4M	60x	as long as short
RISEx ARB/USDC	+0.0056%	1h	0.2208	−0.276%	$474K	$2.6M	10x	as long as short
Extended ARB-USD	+0.0064%	1h	0.2206	−0.374%	$354K	$2.8M	25x	as long as short
Bitget ARBUSDT	+0.0064%	8h	0.2207	−0.316%	$21.3M	$34.8M	50x	as long as short
Binance ARBUSDT	+0.0064%	8h	0.2208	−0.280%	$63.1M	$302.2M	75x	as long as short
BingX ARB-USDC	+0.0076%	8h	0.2209	−0.221%	—	$6.5M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2208	−0.248%	$1.2M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2207	−0.326%	$140K	$7K	3x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2209	−0.212%	$37.4M	$49.2M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2210	−0.183%	$635K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2208	−0.266%	$43K	$149K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2207	−0.321%	$19.6M	$14.3M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2199	−0.657%	$39K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2201	−0.577%	$478K	$3.7M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2199	−0.678%	$119K	$281K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2208	−0.271%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2206	−0.361%	$295K	$865K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2206	−0.361%	$4.9M	$12.9M	50x	as long as short
BloFin ARB-USDT	+0.0190%	8h	0.2208	−0.266%	$3.0M	$2.3M	75x	as long as short
Kraken Futures PF_ARBUSDshort	+0.0231%	1h	0.2207	−0.300%	$1.1M	$4.4M	50x
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2207	−0.310%	$833K	—	150x	as long as short
Coinbase International ARB-PERP-INTXlong	+0.0288%	1h	0.2214	long leg	$527K	$1.6M	50x
Reya ARBRUSDPERP	+0.0289%	1h	0.2206	−0.354%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0620%	1h	0.2209	−0.235%	$992K	$2.8M	20x	as long as short