Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h +0.819%

Price spread now: Kraken Futures against Bitget+0.011%48s7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget INITUSDT	0.08331	0.0100	pay 0.0050% / 4h	3h 09m	$433K	$303K	25x
Short	Kraken Futures PF_INITUSD	0.08332	0.0191	get 0.0024% / 1h	9m 25s	$5K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.011%Rate

Funding earned: $19.04
Price spread: +0.011% → 0.000%: $1.12
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1.85
Costs to cover: 0.220%
Break-even: 7.7 days

Slippage unknown: Bitget: live order book, 56 min ago; Kraken Futures: 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 Bitget live order book, 56 min ago	5.45 bp	58.1 bp −$58	300.6 bp −$3,006	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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.

INIT on 13 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
BloFin INIT-USDT	+0.0061%	4h	0.08323	−0.096%	$154K	$113K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08333	+0.019%	$303K	$233K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08321	−0.118%	$27K	$37K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08334	+0.036%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08332	+0.012%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08345	+0.168%	$138K	$647K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08319	−0.144%	$85K	$55K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08335	+0.048%	$452K	$220K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08318	−0.156%	$331K	$54K	25x	as long as short
Bitget INITUSDTlong	+0.0100%	4h	0.08331	long leg	$433K	$303K	25x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08329	−0.024%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08308	−0.275%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSDshort	+0.0191%	1h	0.08332	+0.011%	$5K	$17K	10x