Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−3.8641%/8h= −4231.2% APRpaid last 24h −3.454%

Price spread now: KuCoin against Kraken Futures+0.120%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 KuCoin

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. KuCoin is 0.120% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.120% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$1,159 a day in funding at the current rate, which eats that in about under an hour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IOUSD	0.1488	3.8741	pay 0.4843% / 1h	40m 03s	$38K	$7K	10x
Short	KuCoin IOUSDTM	0.1490	0.0100	get 0.0050% / 4h	1h 40m	$350K	$192K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.120%Rate

Funding earned: −$8,114.62
Price spread: +0.120% → 0.000%: $11.96
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$8,124.66
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 14 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 KuCoin live order book, 14 min ago	6.70 bp	70.1 bp −$70	378.9 bp −$3,789	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	+0.0086%	4h	0.1491	+0.187%	$193K	$34K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1490	+0.120%	$990K	$273K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1491	+0.186%	$23K	$47K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1490	+0.100%	$3.0M	$5.1M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1489	+0.052%	$1.1M	$687K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1491	+0.194%	$229K	$467K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1488	−0.015%	$1.2M	$225K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1490	+0.120%	$350K	$192K	50x
Bitget IOUSDT	+0.0100%	4h	0.1492	+0.254%	$1.4M	$1.0M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1490	+0.120%	—	$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	0.1490	+0.136%	$30K	$20K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1490	+0.094%	$4K	$214K	5x	as long as short
Injective IO/USDC PERP	+0.0204%	1h	0.1499	+0.724%	$2K	$198	5.5x	as long as short
Kraken Futures PF_IOUSDlong	+3.8741%	1h	0.1488	long leg	$38K	$7K	10x