Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0376%/8h= +41.2% APRpaid last 24h +0.200%

Price spread now: Gate against Kraken Futures+0.169%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 Gate

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 for this trade now. Funding pays +$11 a day on $10k at the current rate, and Gate is 0.169% dearer against Kraken Futures than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LAYERUSD	0.07653	−0.0276	get 0.0034% / 1h	32m 55s	$8K	$54	10x
Short	Gate LAYER_USDT	0.07666	0.0100	get 0.0050% / 4h	1h 32m	$141K	$40K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.169%Rate

Funding earned: $78.96
Price spread: +0.169% → 0.000%: $16.86
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $70.81
Costs to cover: 0.250%
Break-even: 0.7 days

Slippage unknown: Kraken Futures: no order-book sample; Gate: 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 Gate live order book, 3 min ago	9.79 bp	93.0 bp −$93	doesn't fit	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	−0.0276%	1h	0.07653	long leg	$8K	$54	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.954%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0041%	4h	0.07649	−0.054%	$113K	$15K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07663	+0.127%	$590K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07655	+0.022%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07653	−0.001%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07646	−0.093%	$715K	$653K	20x	as long as short
Gate LAYER_USDTshort	+0.0100%	4h	0.07666	+0.169%	$141K	$40K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07653	−0.001%	$372K	$131K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07653	−0.001%	$1.1M	$112K	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	0.07655	+0.025%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07660	+0.090%	$16K	$193K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07651	−0.026%	$1K	$218K	5x	as long as short