Funding arb · Price arb /

COMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0959%/8h= +105.0% APRpaid last 24h +0.060%

Price spread now: Binance against Kraken Futures−0.210%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1091.086% 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+0.268%+$27 on $10k

Price spread, last 3 days (all we have)+0.095%+$9 · spread now −0.210%, 7d avg −0.129%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.080% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.210% now, against its 7-day average of −0.129%). If the spread goes back, that is −$8 on $10k: about 7 hours of funding at the current rate (+$29 a day). At the pace of the last 7 days (+0.268% in total) that is about 2.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.268% in total (about 14.0% 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_COMPUSD	22.507	−0.0859	get 0.0107% / 1h	19m 04s	$237K	$62K	20x
Short	Binance COMPUSDT	22.460	0.0100	get 0.0100% / 8h	1h 19m	$4.2M	$7.2M	75x

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 −0.210%Rate

Funding earned: $201.4
Price spread: −0.210% → −0.129%: −$8.04
Slippage, 4 orders: −$88.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $84.75
Costs to cover: 1.086%
Break-even: 4.1 days

Slippage from Kraken Futures: live order book, 63 min ago; Binance: live order book, 5 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, 63 min ago	13.98 bp	39.9 bp −$40	464.0 bp −$4,640	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	2.23 bp	14.1 bp −$14	48.8 bp −$488	doesn't fit	doesn't fit

COMP on 16 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
Deribit COMP_USDC-PERPETUAL	−0.1085%	1h	22.450	−0.254%	$328	$327	50x	as long as short
Kraken Futures PF_COMPUSDlong	−0.0859%	1h	22.507	long leg	$237K	$62K	20x
Injective COMP/USDC PERP	−0.0449%	1h	22.340	−0.743%	$2K	$13K	12x	as long as short
dYdX COMP-USD	0.0000%	1h	22.487	−0.088%	$68K	—	5x	as long as short
Coinbase International COMP-PERP-INTX	+0.0040%	1h	22.520	+0.057%	$18K	$53K	25x	as long as short
Hyperliquid COMP	+0.0100%	1h	22.489	−0.081%	$844K	$493K	5x	as long as short
Binance COMPUSDTshort	+0.0100%	8h	22.460	−0.210%	$4.2M	$7.2M	75x
Bybit COMPUSDT	+0.0100%	8h	22.459	−0.214%	$3.8M	$2.0M	75x	as long as short
OKX COMP-USDT-SWAP	+0.0100%	8h	22.460	−0.210%	$1.6M	$2.2M	20x	as long as short
Gate COMP_USDT	+0.0100%	8h	22.480	−0.121%	$220K	$78K	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC COMP_USDT	+0.0100%	8h	22.450	−0.254%	$2.7M	$844K	20x	as long as short
KuCoin COMPUSDTM	+0.0100%	8h	22.490	−0.076%	$454K	$94K	30x	as long as short
Bitget COMPUSDT	+0.0100%	8h	22.460	−0.210%	$1.9M	$673K	75x	as long as short
BingX COMP-USDT	+0.0100%	8h	22.470	−0.165%	—	$36.4M	—	as long as short
Variational Omni COMP	+0.0100%	8h	22.467	−0.178%	$15K	$37K	—	as long as short
BloFin COMP-USDT	+0.0122%	8h	22.480	−0.121%	$236K	$148K	20x	as long as short