Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0213%/8h= −23.3% APRpaid last 24h −0.221%

Price spread now: Bitget against Kraken Futures−0.238%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$181as in the Funding arb table

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

costs, in and out, $10k−$1471.472% 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−0.340%−$34 on $10k

Price spread, last 3 days (all we have)+0.260%+$26 · spread now −0.238%, 7d avg −0.117%

Together, before fees−0.080%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bitget is 0.121% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.117%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_EIGENUSD	0.2393	0.0313	pay 0.0039% / 1h	7m 39s	$172K	$68K	20x
Short	Bitget EIGENUSDT	0.2387	0.0100	get 0.0050% / 4h	2h 07m	$1.9M	$1.4M	75x

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 −0.238%Rate

Funding earned: −$44.67
Price spread: −0.238% → −0.117%: −$12.06
Slippage, 4 orders: −$125.17
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$203.89
Costs to cover: 1.472%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 15 min ago; Bitget: 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, 15 min ago	18.60 bp	59.0 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 9 min ago	4.16 bp	22.3 bp −$22	49.4 bp −$494	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	−0.0016%	1h	0.2388	−0.196%	$810	$5K	10x	as long as short
Deribit EIGEN_USDC-PERPETUAL	−0.0001%	1h	0.2390	−0.100%	—	$86	10x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2391	−0.074%	$3K	—	5x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+1.894%	$6	$6	5.5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2390	−0.091%	$29K	$16K	3x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2390	−0.129%	$46K	$29K	5x	as long as short
Binance EIGENUSDT	+0.0100%	4h	0.2388	−0.196%	$8.1M	$20.1M	75x	as long as short
Bybit EIGENUSDT	+0.0100%	4h	0.2389	−0.154%	$9.6M	$8.0M	50x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2389	−0.154%	$1.6M	$5.0M	20x	as long as short
Gate EIGEN_USDT	+0.0100%	4h	0.2390	−0.112%	$715K	$674K	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC EIGEN_USDT	+0.0100%	4h	0.2389	−0.154%	$8.5M	$2.3M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2390	−0.112%	$2.3M	$10.8M	50x	as long as short
Bitget EIGENUSDTshort	+0.0100%	4h	0.2387	−0.238%	$1.9M	$1.4M	75x
BingX EIGEN-USDC	+0.0100%	4h	0.2388	−0.196%	—	$6.5M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2393	+0.032%	$201K	$152K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2393	+0.013%	$187K	$2.1M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2392	−0.029%	$35K	$235K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2391	−0.070%	$2K	$2K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2388	−0.182%	$90K	$496K	10x	as long as short
Lighter EIGEN	+0.0128%	1h	0.2392	−0.020%	$538K	$436K	5x	as long as short
Coinbase International EIGEN-PERP-INTX	+0.0144%	1h	0.2397	+0.201%	$42K	$160K	50x	as long as short
BloFin EIGEN-USDT	+0.0155%	4h	0.2392	−0.029%	$350K	$136K	75x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0194% / S −0.0568%	1h	0.2391	−0.076%	$2K	—	100x	as long as short
Hyperliquid EIGEN	+0.0268%	1h	0.2394	+0.055%	$4.7M	$1.5M	5x	as long as short
Kraken Futures PF_EIGENUSDlong	+0.0313%	1h	0.2393	long leg	$172K	$68K	20x
Reya EIGENRUSDPERP	+0.0512%	1h	0.2390	−0.119%	$834	—	15x	as long as short