Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0045%/8h= −4.9% APRpaid last 24h +0.694%

Price spread now: Kraken Futures against BloFin+0.037%7-day average — · you sell dearer than you buy

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

Long on BloFin 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 pays, funding is against you. Kraken Futures is 0.037% dearer against BloFin than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin INIT-USDT	0.08282	0.0158	pay 0.0079% / 4h	2h 28m	$151K	$108K	25x
Short	Kraken Futures PF_INITUSD	0.08285	0.0113	get 0.0014% / 1h	28m 51s	$5K	$24K	10x

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 +0.037%Rate

Funding earned: −$9.44
Price spread: +0.037% → 0.000%: $3.66
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$27.78
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 51 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 BloFin live order book, 51 min ago	5.99 bp	26.2 bp −$26	76.3 bp −$763	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
Hyperliquid INIT	+0.0100%	1h	0.08280	−0.023%	$309K	$237K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08290	+0.094%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08281	−0.011%	$3.4M	$4.0M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08267	−0.181%	$1.4M	$1.7M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08278	−0.048%	$139K	$740K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08284	+0.024%	$81K	$46K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08281	−0.012%	$441K	$209K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08295	+0.157%	$321K	$64K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08281	−0.012%	$426K	$346K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08281	−0.012%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08273	−0.106%	$26K	$14K	—	as long as short
Kraken Futures PF_INITUSDshort	+0.0113%	1h	0.08285	+0.037%	$5K	$24K	10x
BloFin INIT-USDTlong	+0.0158%	4h	0.08282	long leg	$151K	$108K	25x