Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0226%/8h= −24.7% APRpaid last 24h +0.708%

Price spread now: Kraken Futures against MEXC−0.093%7-day average — · you buy dearer than you sell

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

Long on MEXC 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 −$7 a day on $10k at the current rate, and Kraken Futures is 0.093% cheaper against MEXC than usual: you would sell low and buy high (−$9 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	MEXC INIT_USDT	0.08463	0.0100	pay 0.0050% / 4h	3h 22m	$449K	$141K	20x
Short	Kraken Futures PF_INITUSD	0.08455	−0.0126	pay 0.0016% / 1h	22m 01s	$5K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$47.42
Price spread: −0.093% → 0.000%: −$9.33
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$70.75
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 64 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 MEXC live order book, 64 min ago	2.99 bp	38.0 bp −$38	86.3 bp −$863	226.2 bp −$22.6K	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
Kraken Futures PF_INITUSDshort	−0.0126%	1h	0.08455	−0.093%	$5K	$13K	10x
Hyperliquid INIT	+0.0100%	1h	0.08460	−0.035%	$315K	$135K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08439	−0.285%	$28K	$7K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08460	−0.035%	$3.5M	$2.4M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08452	−0.130%	$1.4M	$1.1M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08458	−0.059%	$142K	$422K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08433	−0.354%	$82K	$15K	25x	as long as short
MEXC INIT_USDTlong	+0.0100%	4h	0.08463	long leg	$449K	$141K	20x
KuCoin INITUSDTM	+0.0100%	4h	0.08443	−0.236%	$327K	$37K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08458	−0.059%	$438K	$191K	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	0.08460	−0.035%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08353	−1.301%	$27K	$10K	—	as long as short
BloFin INIT-USDT	+0.0135%	4h	0.08387	−0.898%	$153K	$34K	25x	as long as short