Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.5794%/8h= −634.4% APRpaid last 24h +0.832%

Price spread now: Kraken Futures against Gate−0.620%7-day average — · you buy dearer than you sell

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

Long on Gate 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

Both sides work against this trade now: funding costs −$174 a day on $10k at the current rate, and Kraken Futures is 0.620% cheaper against Gate than usual: you would sell low and buy high (−$62 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate INIT_USDT	0.08246	0.0100	pay 0.0100% / 8h	4h 43m	$83K	$56K	25x
Short	Kraken Futures PF_INITUSD	0.08195	−0.5694	pay 0.0712% / 1h	43m 43s	$3K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.620%Rate

Funding earned: −$1,216.65
Price spread: −0.620% → 0.000%: −$62
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,303.65
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: no order-book sample; 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 Gate no order-book sample	—	—	—	—	—
Sell Kraken Futures no order-book sample	—	—	—	—	—

Gate and 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
Kraken Futures PF_INITUSDshort	−0.5694%	1h	0.08195	−0.620%	$3K	$19K	10x
Hyperliquid INIT	+0.0100%	1h	0.08248	+0.023%	$304K	$230K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08248	+0.022%	$27K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08248	+0.028%	$3.3M	$3.7M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08240	−0.073%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08256	+0.121%	$137K	$662K	10x	as long as short
Gate INIT_USDTlong	+0.0100%	8h	0.08246	long leg	$83K	$56K	25x
MEXC INIT_USDT	+0.0100%	4h	0.08252	+0.073%	$444K	$210K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08248	+0.024%	$323K	$56K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08249	+0.036%	$428K	$308K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08242	−0.049%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08219	−0.328%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0108%	4h	0.08234	−0.146%	$152K	$112K	25x	as long as short