Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−1.6730%/8h= −1831.9% APRpaid last 24h −3.378%

Price spread now: Bitget against Kraken Futures+0.583%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 Bitget

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. Bitget is 0.583% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.583% now, against zero (this spread has no 7-day history yet)): +$58 on $10k if it goes back. Holding the pair costs −$502 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IOUSD	0.1492	1.6830	pay 0.2104% / 1h	24m 52s	$39K	$10K	10x
Short	Bitget IOUSDT	0.1501	0.0100	get 0.0050% / 4h	3h 24m	$1.3M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.583%Rate

Funding earned: −$3,513.32
Price spread: +0.583% → 0.000%: $58.35
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$3,476.98
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 2 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 Bitget live order book, 2 min ago	3.33 bp	32.6 bp −$33	168.4 bp −$1,684	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.

IO on 14 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 IO-USDT	+0.0097%	4h	0.1499	+0.449%	$192K	$39K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1501	+0.570%	$1.0M	$367K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1501	+0.571%	$23K	$48K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1500	+0.549%	$3.0M	$6.5M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1498	+0.409%	$1.1M	$898K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1500	+0.510%	$229K	$555K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1498	+0.382%	$1.2M	$230K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1500	+0.516%	$354K	$629K	50x	as long as short
Bitget IOUSDTshort	+0.0100%	4h	0.1501	+0.583%	$1.3M	$1.3M	50x
BingX IO-USDT	+0.0100%	4h	0.1499	+0.449%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1497	+0.297%	$32K	$14K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1500	+0.495%	$1K	$138K	5x	as long as short
Injective IO/USDC PERP	+0.0193%	1h	0.1508	+1.053%	$2K	$200	5.5x	as long as short
Kraken Futures PF_IOUSDlong	+1.6830%	1h	0.1492	long leg	$39K	$10K	10x