Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0630%/8h= +69.0% APRpaid last 24h +0.157%

Price spread now: Kraken Futures against BloFin+0.378%57s7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as 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−$1261.259% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 3 days (all we have)−0.447%−$45 · spread now +0.378%, 7d avg +0.092%

Together, before fees−0.555%−$56 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Kraken Futures is 0.286% dearer against BloFin than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of +0.092%. Mind the row above: over the last 7 days funding on this pair cost −0.108%, so the current rate has only just turned in your favour. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.108% in total (about -5.7% 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	BloFin EIGEN-USDT	0.2393	0.0053	pay 0.0027% / 4h	1h 46m	$345K	$137K	75x
Short	Kraken Futures PF_EIGENUSD	0.2402	0.0683	get 0.0085% / 1h	46m 02s	$173K	$67K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.378%Rate

Funding earned: $132.33
Price spread: +0.378% → +0.092%: $28.62
Slippage, 4 orders: −$103.89
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $35.06
Costs to cover: 1.259%
Break-even: 5.1 days

Slippage from BloFin: live order book, 34 min ago; Kraken Futures: live order book, 36 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 BloFin live order book, 34 min ago	4.15 bp	13.9 bp −$14	22.2 bp −$222	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 36 min ago	18.60 bp	42.9 bp −$43	doesn't fit	doesn't fit	doesn't fit

EIGEN on 26 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
01 Exchange EIGENUSD	−0.0096%	1h	0.2395	+0.084%	$812	$5K	10x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2396	+0.116%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2398	+0.221%	—	$86	10x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+1.880%	$6	$6	5.5x	as long as short
BloFin EIGEN-USDTlong	+0.0053%	4h	0.2393	long leg	$345K	$137K	75x
Lighter EIGEN	+0.0096%	1h	0.2401	+0.351%	$540K	$431K	5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2397	+0.188%	$28K	$17K	3x	as long as short
Hyperliquid EIGEN	+0.0100%	1h	0.2403	+0.418%	$4.7M	$1.5M	5x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2399	+0.244%	$44K	$29K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2399	+0.241%	$8.1M	$20.1M	75x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit EIGENUSDT	+0.0100%	4h	0.2399	+0.267%	$9.6M	$7.9M	50x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2398	+0.209%	$1.6M	$5.0M	20x	as long as short
Gate EIGEN_USDT	+0.0100%	4h	0.2395	+0.084%	$718K	$635K	50x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2398	+0.209%	$8.6M	$2.2M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2399	+0.251%	$2.3M	$10.8M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2398	+0.209%	$1.9M	$1.4M	75x	as long as short
BingX EIGEN-USDC	+0.0100%	4h	0.2398	+0.209%	—	$6.5M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2393	+0.012%	$200K	$154K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2392	−0.057%	$184K	$2.1M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2390	−0.125%	$35K	$236K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2398	+0.209%	$2K	$1K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2399	+0.246%	$90K	$496K	10x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0194% / S −0.0568%	1h	0.2397	+0.166%	$2K	—	100x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0200%	1h	0.2400	+0.276%	$42K	$159K	50x	as long as short
Reya EIGENRUSDPERP	+0.0512%	1h	0.2397	+0.147%	$837	—	15x	as long as short
Kraken Futures PF_EIGENUSDshort	+0.0683%	1h	0.2402	+0.378%	$173K	$67K	20x