Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0643%/8h= +70.4% APRpaid last 24h +0.189%

Price spread now: BloFin against Kraken Futures−0.076%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 BloFin

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

Funding pays, the price is against you. BloFin is 0.076% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.076% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 10 hours of funding at the current rate (+$19 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LAYERUSD	0.07650	−0.0547	get 0.0068% / 1h	22m 35s	$8K	$964	10x
Short	BloFin LAYER-USDT	0.07644	0.0096	get 0.0048% / 4h	22m 35s	$113K	$12K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.076%Rate

Funding earned: $135.03
Price spread: −0.076% → 0.000%: −$7.64
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $105.39
Costs to cover: 0.220%
Break-even: 1.5 days

Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 37 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 BloFin live order book, 37 min ago	3.92 bp	24.6 bp −$25	73.0 bp −$730	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.

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_LAYERUSDlong	−0.0547%	1h	0.07650	long leg	$8K	$964	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.913%	—	$18K	5.5x	as long as short
BloFin LAYER-USDTshort	+0.0096%	4h	0.07644	−0.076%	$113K	$12K	50x
Hyperliquid LAYER	+0.0100%	1h	0.07660	+0.133%	$590K	$166K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07648	−0.018%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07648	−0.025%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07649	−0.011%	$706K	$668K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07651	+0.015%	$136K	$55K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07648	−0.024%	$339K	$115K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07654	+0.054%	$1.1M	$165K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07653	+0.041%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07640	−0.129%	$26K	$183K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07647	−0.044%	$2K	$174K	5x	as long as short