Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0227%/8h= +24.9% APRpaid last 24h −0.708%

Price spread now: OKX against Kraken Futures+0.070%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on OKX

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 for this trade now. Funding pays +$7 a day on $10k at the current rate, and OKX is 0.070% dearer against Kraken Futures than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_INITUSD	0.08373	−0.0127	get 0.0016% / 1h	25m 14s	$5K	$13K	10x
Short	OKX INIT-USDT-SWAP	0.08379	0.0100	get 0.0050% / 4h	3h 25m	$141K	$418K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.070%Rate

Funding earned: $47.68
Price spread: +0.070% → 0.000%: $6.95
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $34.63
Costs to cover: 0.200%
Break-even: 1.9 days

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, 5 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell OKX live order book, 5 min ago	5.38 bp	55.9 bp −$56	doesn't fit	doesn't fit	doesn't fit

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_INITUSDlong	−0.0127%	1h	0.08373	long leg	$5K	$13K	10x
BloFin INIT-USDT	+0.0088%	4h	0.08383	+0.117%	$153K	$34K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08378	+0.064%	$312K	$138K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08380	+0.081%	$28K	$7K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08377	+0.050%	$3.5M	$2.4M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08363	−0.122%	$1.4M	$1.1M	25x	as long as short
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08379	+0.070%	$141K	$418K	10x
Gate INIT_USDT	+0.0100%	8h	0.08367	−0.074%	$82K	$15K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08379	+0.070%	$444K	$141K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08374	+0.010%	$327K	$37K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget INITUSDT	+0.0100%	4h	0.08369	−0.050%	$436K	$191K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08370	−0.038%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08353	−0.243%	$27K	$10K	—	as long as short