Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h −0.030%

Price spread now: Orderly against Kraken Futures−0.004%7-day average −0.057% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now −0.004%, 7d avg −0.057%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.053% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.057%. Mind the row above: over the last 7 days funding on this pair cost −0.101%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARBUSD	0.2244	−0.0139	get 0.0017% / 1h	0m 48s	$1.1M	$4.7M	50x
Short	Orderly PERP_ARB_USDC	0.2244	−0.0053	pay 0.0053% / 8h	7h 00m	$13K	$387K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.004%Rate

Funding earned: $17.97
Price spread: −0.004% → −0.057%: $5.3
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $7.27
Costs to cover: 0.160%
Break-even: 4.2 days

Slippage unknown: Kraken Futures: live order book, 3 min ago; Orderly: no order-book sample. Net counts fees only.

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, 3 min ago	18.99 bp	27.0 bp −$27	40.4 bp −$404	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1666%	1h	0.2241	−0.137%	$40K	$372K	12x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0284%	1h	0.2245	+0.018%	$25K	$34K	25x	as long as short
Variational Omni ARB	−0.0196%	8h	0.2245	+0.034%	$1.9M	$2.8M	—	as long as short
01 Exchange ARBUSD	−0.0160%	1h	0.2248	+0.197%	$7K	$2K	10x	as long as short
Kraken Futures PF_ARBUSDlong	−0.0139%	1h	0.2244	long leg	$1.1M	$4.7M	50x
SoDEX ARB-USD	−0.0107%	1h	0.2243	−0.053%	$10K	$2.5M	5x	as long as short
OKX ARB-USDT-SWAP	−0.0106%	8h	0.2233	−0.481%	$22.8M	$156.3M	50x	as long as short
Bybit ARBUSDT	−0.0106%	8h	0.2233	−0.476%	$58.0M	$127.4M	50x	as long as short
MEXC ARB_USDT	−0.0106%	8h	0.2233	−0.472%	$38.5M	$59.7M	200x	as long as short
Orderly PERP_ARB_USDCshort	−0.0053%	8h	0.2244	−0.004%	$13K	$387K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2235	−0.423%	$66K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0011%	1h	0.2247	+0.151%	$10K	—	150x	as long as short
Binance ARBUSDT	+0.0010%	8h	0.2233	−0.483%	$66.0M	$312.2M	75x	as long as short
Extended ARB-USD	+0.0016%	1h	0.2241	−0.143%	$356K	$2.5M	25x	as long as short
BloFin ARB-USDT	+0.0054%	8h	0.2243	−0.057%	$3.2M	$2.9M	75x	as long as short
Aevo ARB-PERP	+0.0088%	1h	0.2244	−0.004%	$142K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2246	+0.099%	$1.4M	$7.3M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2246	+0.094%	$40.7M	$47.3M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2242	−0.082%	$699K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2238	−0.287%	$44K	$183K	10x	as long as short
Gate ARB_USDT	+0.0100%	8h	0.2243	−0.048%	$5.4M	$20.1M	60x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2234	−0.440%	$19.4M	$15.8M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2244	−0.004%	$21.4M	$35.9M	50x	as long as short
BingX ARB-USDT	+0.0100%	8h	0.2244	+0.001%	—	$54.4M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2257	+0.564%	$41K	$464K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2256	+0.544%	$486K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2258	+0.620%	$122K	$296K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2249	+0.223%	$64K	$2.0M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2257	+0.576%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2244	+0.014%	$293K	$981K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2245	+0.041%	$5.2M	$13.0M	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0232%	1h	0.2248	+0.174%	$505K	$2.3M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0278% / S −0.0162%	1h	0.2247	+0.132%	$854K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2247	+0.148%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0384%	1h	0.2250	+0.273%	$511K	$2.6M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0588%	1h	0.2246	+0.072%	$1.0M	$2.8M	20x	as long as short