Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−1.6600%/8h= −1817.7% APRpaid last 24h −3.378%

Price spread now: MEXC against Kraken Futures−0.196%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on MEXC

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 −$498 a day on $10k at the current rate, and MEXC is 0.196% cheaper against Kraken Futures than usual: you would sell low and buy high (−$20 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	Kraken Futures PF_IOUSD	0.1504	1.6700	pay 0.2087% / 1h	17m 44s	$39K	$10K	10x
Short	MEXC IO_USDT	0.1501	0.0100	get 0.0050% / 4h	3h 17m	$1.2M	$231K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.196%Rate

Funding earned: −$3,485.92
Price spread: −0.196% → 0.000%: −$19.63
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$3,519.55
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	6.67 bp	22.8 bp −$23	162.1 bp −$1,621	277.2 bp −$27.7K	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
Hyperliquid IO	+0.0100%	1h	0.1504	+0.003%	$1.0M	$367K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1505	+0.043%	$23K	$48K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1505	+0.043%	$3.0M	$6.5M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1503	−0.037%	$1.1M	$898K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1500	−0.236%	$229K	$556K	50x	as long as short
MEXC IO_USDTshort	+0.0100%	4h	0.1501	−0.196%	$1.2M	$231K	125x
KuCoin IOUSDTM	+0.0100%	4h	0.1501	−0.196%	$358K	$629K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1503	−0.063%	$1.3M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1502	−0.130%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1500	−0.247%	$32K	$14K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1502	−0.157%	$1K	$133K	5x	as long as short
BloFin IO-USDT	+0.0134%	4h	0.1502	−0.130%	$193K	$39K	50x	as long as short
Injective IO/USDC PERP	+0.0193%	1h	0.1508	+0.269%	$2K	$200	5.5x	as long as short
Kraken Futures PF_IOUSDlong	+1.6700%	1h	0.1504	long leg	$39K	$10K	10x