Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1781%/8h= −195.0% APRpaid last 24h −0.508%

Price spread now: Kraken Futures against Gate+0.145%51s7-day average — · you sell dearer than you buy

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

Long on Gate 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 0.145% dearer against Gate than usual: you sell high and buy low (spread +0.145% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$53 a day in funding at the current rate, which eats that in about 7 hours. The two prices were read 51 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	Gate S_USDT	0.04081	0.0100	pay 0.0050% / 4h	1h 55m	$336K	$199K	50x
Short	Kraken Futures PF_SUSD	0.04087	−0.1681	pay 0.0210% / 1h	55m 20s	$34K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.145%Rate

Funding earned: −$374.03
Price spread: +0.145% → 0.000%: $14.51
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$384.52
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 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 Gate live order book, 5 min ago	8.67 bp	65.9 bp −$66	doesn't fit	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 24 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	−0.9144%	1h	0.03950	−3.210%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.1681%	1h	0.04087	+0.145%	$34K	$16K	10x
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−1.446%	$48K	$16K	25x	as long as short
Variational Omni S	−0.0312%	4h	0.04087	+0.143%	$632K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04080	−0.025%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04077	−0.095%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04080	−0.022%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.466%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0057%	4h	0.04077	−0.098%	$101K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04091	+0.245%	$170K	$155K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04081	−0.002%	$1.0M	$564K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04086	+0.129%	$45K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04077	−0.098%	$5.6M	$14.1M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04071	−0.245%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04078	−0.074%	$1.0M	$4.0M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.04081	long leg	$336K	$199K	50x
MEXC S_USDT	+0.0100%	4h	0.04078	−0.074%	$3.9M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04080	−0.025%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04080	−0.025%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04077	−0.098%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04060	−0.515%	$20K	$447K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04081	−0.012%	$230K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0971%	1h	0.04099	+0.441%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1713%	1h	0.04100	+0.466%	$121K	$352K	5x	as long as short