Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1202%/8h= −131.6% APRpaid last 24h −0.307%

Price spread now: Binance against Kraken Futures−0.024%7-day average +0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1491.495% 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−0.166%−$17 on $10k

Price spread, last 4 days (all we have)+0.418%+$42 · spread now −0.024%, 7d avg +0.074%

Together, before fees+0.252%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$36 a day on $10k at the current rate, and Binance is 0.098% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.074%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.166% in total (about -8.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BRETTUSD	0.005802	0.1302	pay 0.0163% / 1h	25m 55s	$39K	$105K	10x
Short	Binance BRETTUSDT	0.005800	0.0100	get 0.0050% / 4h	25m 55s	$1.2M	$3.0M	50x

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 −0.024%Rate

Funding earned: −$252.34
Price spread: −0.024% → +0.074%: −$9.79
Slippage, 4 orders: −$129.47
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$411.6
Costs to cover: 1.495%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 47 min ago; Binance: live order book, 9 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, 47 min ago	33.54 bp	39.9 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	3.44 bp	33.2 bp −$33	120.6 bp −$1,206	doesn't fit	doesn't fit

BRETT on 14 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
GMX BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005789	−0.221%	—	—	100x	as long as short
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	+0.641%	$61	$854	5.5x	as long as short
Binance BRETTUSDTshort	+0.0100%	4h	0.005800	−0.024%	$1.2M	$3.0M	50x
Bybit BRETTUSDT	+0.0100%	4h	0.005800	−0.031%	$2.1M	$2.3M	25x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005801	−0.014%	$420K	$111K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005801	−0.014%	$12.3M	$235K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005802	+0.003%	$279K	$118K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005788	−0.238%	$1.4M	$607K	50x	as long as short
Variational Omni BRETT	+0.0100%	4h	0.005801	−0.007%	$43K	$105K	—	as long as short
BloFin BRETT-USDT	+0.0134%	4h	0.005806	+0.072%	$57K	$211K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid BRETT	+0.0238%	1h	0.005805	+0.055%	$314K	$292K	3x	as long as short
BingX BRETT-USDT	+0.0636%	4h	0.005804	+0.038%	—	$1.4M	—	as long as short
OKX BRETT-USDT-SWAP	+0.0651%	4h	0.005811	+0.158%	$148K	$405K	10x	as long as short
Kraken Futures PF_BRETTUSDlong	+0.1302%	1h	0.005802	long leg	$39K	$105K	10x