Funding arb · Price arb /

MELANIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0876%/8h= −96.0% APRpaid last 24h +0.365%

Price spread now: Bitget against Kraken Futures+0.006%58s7-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 Bitget

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$26 a day on $10k at the current rate. The two prices were read 58 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	Kraken Futures PF_MELANIAUSD	0.1089	0.0976	pay 0.0122% / 1h	51m 20s	$25K	$3K	10x
Short	Bitget MELANIAUSDT	0.1089	0.0100	get 0.0050% / 4h	3h 51m	$965K	$211K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$184.04
Price spread: +0.006% → 0.000%: $0.55
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$205.49
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 20 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 Bitget live order book, 20 min ago	7.35 bp	38.5 bp −$38	127.3 bp −$1,273	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.

MELANIA 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
BloFin MELANIA-USDT	+0.0091%	4h	0.1091	+0.244%	$195K	$6K	75x	as long as short
Hyperliquid MELANIA	+0.0100%	1h	0.1088	−0.050%	$1.7M	$200K	3x	as long as short
Binance MELANIAUSDT	+0.0100%	4h	0.1090	+0.079%	$3.0M	$3.0M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1089	−0.004%	$1.5M	$679K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1090	+0.070%	$423K	$54K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1089	+0.033%	$1.2M	$135K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1090	+0.107%	$410K	$1.1M	30x	as long as short
Bitget MELANIAUSDTshort	+0.0100%	4h	0.1089	+0.006%	$965K	$211K	50x
BingX MELANIA-USDT	+0.0100%	4h	0.1090	+0.107%	—	$1.5M	—	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1090	+0.109%	$113K	$590	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo MELANIA-PERP	+0.0104%	1h	0.1049	−3.678%	$240K	—	3x	as long as short
Aster MELANIAUSDT	+0.0644%	4h	0.1090	+0.107%	$21K	$16K	5x	as long as short
Kraken Futures PF_MELANIAUSDlong	+0.0976%	1h	0.1089	long leg	$25K	$3K	10x