Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.2048%/8h= −224.2% APRpaid last 24h −0.576%

Price spread now: Kraken Futures against Binance+0.083%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Kraken Futures

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 pays, funding is against you. Kraken Futures is 0.083% dearer against Binance than usual: you sell high and buy low (spread +0.083% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$61 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SUSDT	0.04053	0.0100	pay 0.0050% / 4h	52m 17s	$5.7M	$13.5M	75x
Short	Kraken Futures PF_SUSD	0.04057	−0.1948	pay 0.0243% / 1h	52m 17s	$35K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$430.03
Price spread: +0.083% → 0.000%: $8.3
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$441.73
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 3 min ago; Kraken Futures: no order-book sample. 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 Binance live order book, 3 min ago	1.24 bp	21.0 bp −$21	69.5 bp −$695	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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.

S on 25 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
01 Exchange SUSD	−0.6344%	1h	0.03950	−2.553%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.1948%	1h	0.04057	+0.083%	$35K	$16K	10x
Coinbase International S-PERP-INTX	−0.1064%	1h	0.03961	−2.281%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04054	+0.001%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04046	−0.177%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04052	−0.024%	$624	—	150x	as long as short
Variational Omni S	+0.0020%	4h	0.04008	−1.128%	$622K	$17K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.148%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0086%	4h	0.04059	+0.136%	$101K	$574K	10x	as long as short
Lighter S	+0.0096%	1h	0.04058	+0.112%	$173K	$137K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04053	−0.012%	$1.0M	$578K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04052	−0.037%	$48K	$110K	10x	as long as short
Binance SUSDTlong	+0.0100%	4h	0.04053	long leg	$5.7M	$13.5M	75x
Bybit SUSDT	+0.0100%	4h	0.04048	−0.135%	$5.8M	$4.1M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04054	+0.013%	$1.0M	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04045	−0.209%	$329K	$174K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04051	−0.061%	$4.1M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04047	−0.160%	$1.8M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04056	+0.062%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04051	−0.061%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04020	−0.826%	$23K	$488K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04057	+0.091%	$227K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04043	−0.259%	$279K	$115K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0735%	1h	0.04063	+0.235%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1487%	1h	0.04060	+0.161%	$118K	$430K	5x	as long as short