Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1579%/8h= −172.9% APRpaid last 24h −0.911%

Price spread now: MEXC against Kraken Futures−0.232%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 −$47 a day on $10k at the current rate, and MEXC is 0.232% cheaper against Kraken Futures than usual: you would sell low and buy high (−$23 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_NOTUSD	0.0005044	0.1679	pay 0.0210% / 1h	11m 02s	$49K	$9K	10x
Short	MEXC NOT_USDT	0.0005032	0.0100	get 0.0050% / 4h	2h 11m	$1.3M	$451K	200x

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 −0.232%Rate

Funding earned: −$331.56
Price spread: −0.232% → 0.000%: −$23.22
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$368.79
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 5 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, 5 min ago	2.99 bp	15.8 bp −$16	60.8 bp −$608	95.8 bp −$9,585	122.5 bp −$61.2K

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.

NOT on 16 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
Variational Omni NOT	−0.0079%	4h	0.0005012	−0.635%	$71K	$38K	—	as long as short
KuCoin NOTUSDTM	−0.0004%	4h	0.0005024	−0.391%	$479K	$136K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.365%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005047	+0.057%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005030	−0.272%	$338K	$68K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005032	−0.226%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005032	−0.228%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005028	−0.312%	$2.1M	$892K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005036	−0.153%	$640K	$705K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005030	−0.272%	$138K	$73K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDTshort	+0.0100%	4h	0.0005032	−0.232%	$1.3M	$451K	200x
Bitget NOTUSDT	+0.0100%	4h	0.0005034	−0.193%	$673K	$496K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005033	−0.212%	—	$730K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005031	−0.254%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0133%	4h	0.0005029	−0.292%	$108K	$18K	50x	as long as short
Kraken Futures PF_NOTUSDlong	+0.1679%	1h	0.0005044	long leg	$49K	$9K	10x