Funding arb · Price arb /

RUNE

all RUNE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0493%/8h= −54.0% APRpaid last 24h −0.041%

Price spread now: Bitget against Kraken Futures+0.132%7-day average −0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1621.619% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.601%+$60 on $10k

Price spread, last 3 days (all we have)−0.355%−$36 · spread now +0.132%, 7d avg −0.126%

Together, before fees+0.246%+$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.258% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of −0.126%): +$26 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 42 hours. Mind the row above: over the last 7 days funding on this pair paid +0.601%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_RUNEUSD	0.6630	0.0593	pay 0.0074% / 1h	25m 43s	$196K	$239K	20x
Short	Bitget RUNEUSDT	0.6639	0.0100	get 0.0100% / 8h	7h 25m	$1.6M	$634K	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 +0.132%Rate

Funding earned: −$103.49
Price spread: +0.132% → −0.126%: $25.82
Slippage, 4 orders: −$139.89
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$239.55
Costs to cover: 1.619%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 47 min ago; Bitget: live order book, 1 min ago.

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 live order book, 47 min ago	11.58 bp	48.8 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	5.27 bp	30.4 bp −$30	186.3 bp −$1,863	doesn't fit	doesn't fit

RUNE 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
Deribit RUNE_USDC-PERPETUAL	0.0000%	1h	0.6625	−0.079%	—	—	10x	as long as short
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−7.168%	$7	$14	12x	as long as short
Coinbase International RUNE-PERP-INTX	+0.0056%	1h	0.6641	+0.162%	$39K	$32K	25x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6615	−0.232%	$5.2M	$12.7M	75x	as long as short
Bybit RUNEUSDT	+0.0100%	8h	0.6626	−0.064%	$3.0M	$2.1M	75x	as long as short
Gate RUNE_USDT	+0.0100%	8h	0.6639	+0.132%	$669K	$349K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6621	−0.140%	$3.5M	$2.5M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6625	−0.079%	$933K	$240K	50x	as long as short
Bitget RUNEUSDTshort	+0.0100%	8h	0.6639	+0.132%	$1.6M	$634K	50x
BingX RUNE-USDT	+0.0100%	8h	0.6636	+0.087%	—	$59.0M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RUNE	+0.0100%	8h	0.6626	−0.058%	$141K	$17K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6622	−0.126%	$4K	$167K	10x	as long as short
BloFin RUNE-USDT	+0.0122%	8h	0.6627	−0.049%	$484K	$189K	75x	as long as short
dYdX RUNE-USD	+0.0576%	1h	0.6608	−0.330%	$56K	$5K	5x	as long as short
Kraken Futures PF_RUNEUSDlong	+0.0593%	1h	0.6630	long leg	$196K	$239K	20x
Hyperliquid RUNE	+0.1063%	1h	0.6635	+0.073%	$1.8M	$981K	5x	as long as short