Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h +0.012%

Price spread now: Bitget against Kraken Futures−0.223%48s7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as 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−$540.536% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 4 days (all we have)−0.624%−$62 · spread now −0.223%, 7d avg −0.089%

Together, before fees−0.540%−$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.135% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.223% now, against its 7-day average of −0.089%). If the spread goes back, that is −$13 on $10k: about 4.3 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.084% in total) that is about 11 days. The two prices were read 48 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_ARBUSD	0.2190	−0.0050	get 0.0006% / 1h	24m 28s	$1.1M	$4.4M	50x
Short	Bitget ARBUSDT	0.2185	0.0053	get 0.0053% / 8h	3h 24m	$20.8M	$33.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.223%Rate

Funding earned: $21.69
Price spread: −0.223% → −0.089%: −$13.47
Slippage, 4 orders: −$31.58
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$45.36
Costs to cover: 0.536%
Break-even: 21.6 days

Slippage from Kraken Futures: live order book, 4 min ago; Bitget: live order book, 4 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, 4 min ago	7.07 bp	14.3 bp −$14	19.7 bp −$197	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.28 bp	11.8 bp −$12	20.4 bp −$204	92.5 bp −$9,248	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	−0.1589%	1h	0.2181	−0.406%	$39K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0179%	1h	0.2186	−0.187%	$69K	$2.1M	10x	as long as short
OKX ARB-USDT-SWAP	−0.0104%	8h	0.2185	−0.223%	$22.0M	$141.9M	50x	as long as short
MEXC ARB_USDT	−0.0101%	8h	0.2188	−0.077%	$41.6M	$60.6M	200x	as long as short
Variational Omni ARB	−0.0099%	8h	0.2188	−0.075%	$1.8M	$3.0M	—	as long as short
Orderly PERP_ARB_USDC	−0.0067%	8h	0.2190	+0.005%	$12K	$407K	10x	as long as short
Bybit ARBUSDT	−0.0061%	8h	0.2185	−0.210%	$55.3M	$123.4M	50x	as long as short
Kraken Futures PF_ARBUSDlong	−0.0050%	1h	0.2190	long leg	$1.1M	$4.4M	50x
Gate ARB_USDT	−0.0010%	8h	0.2189	−0.045%	$5.3M	$18.1M	60x	as long as short
01 Exchange ARBUSD	−0.0008%	1h	0.2189	−0.050%	$7K	$2K	10x	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	0.2191	+0.032%	$65K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2190	+0.023%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2190	+0.010%	$32K	—	150x	as long as short
Extended ARB-USD	+0.0040%	1h	0.2188	−0.102%	$349K	$2.5M	25x	as long as short
Binance ARBUSDT	+0.0044%	8h	0.2187	−0.140%	$63.7M	$299.1M	75x	as long as short
Bitget ARBUSDTshort	+0.0053%	8h	0.2185	−0.223%	$20.8M	$33.8M	50x
BingX ARB-USDT	+0.0056%	8h	0.2189	−0.054%	—	$53.6M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2189	−0.054%	$1.3M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2191	+0.051%	$139K	$7K	3x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2187	−0.114%	$37.3M	$48.3M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2189	−0.026%	$630K	$1.5M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2189	−0.036%	$42K	$159K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2190	+0.014%	$19.5M	$14.5M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2188	−0.092%	$38K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2194	+0.188%	$472K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2189	−0.041%	$118K	$283K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2193	+0.142%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2189	−0.022%	$10K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2190	+0.014%	$297K	$882K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2190	+0.005%	$4.9M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0118%	1h	0.2189	−0.045%	$468K	$2.6M	10x	as long as short
BloFin ARB-USDT	+0.0162%	8h	0.2189	−0.022%	$3.1M	$2.5M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0256%	1h	0.2194	+0.188%	$494K	$1.6M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2190	−0.003%	$826K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2185	−0.227%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0547%	1h	0.2193	+0.124%	$985K	$2.8M	20x	as long as short