Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0906%/8h= −99.3% APRpaid last 24h −0.190%

Price spread now: Kraken Futures against BloFin+0.227%57s7-day average — · you sell dearer than you buy

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

Long on BloFin 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

The price spread pays, funding is against you. Kraken Futures is 0.227% dearer against BloFin than usual: you sell high and buy low (spread +0.227% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 20 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LAYER-USDT	0.07710	0.0125	pay 0.0063% / 4h	3h 30m	$113K	$14K	50x
Short	Kraken Futures PF_LAYERUSD	0.07728	−0.0781	pay 0.0098% / 1h	30m 16s	$8K	$964	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.227%Rate

Funding earned: −$190.36
Price spread: +0.227% → 0.000%: $22.71
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$189.66
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: BloFin: live order book, 25 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 BloFin live order book, 25 min ago	4.54 bp	23.4 bp −$23	75.5 bp −$755	doesn't fit	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.

LAYER 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_LAYERUSDshort	−0.0781%	1h	0.07728	+0.227%	$8K	$964	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.655%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07737	+0.346%	$600K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07716	+0.081%	$10K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07724	+0.182%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07725	+0.195%	$711K	$691K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07718	+0.104%	$138K	$52K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07724	+0.182%	$351K	$117K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07725	+0.195%	$1.1M	$165K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07731	+0.272%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07710	0.000%	$26K	$181K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07722	+0.159%	$2K	$176K	5x	as long as short
BloFin LAYER-USDTlong	+0.0125%	4h	0.07710	long leg	$113K	$14K	50x