Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2724%/8h= +298.2% APRpaid last 24h +0.637%

Price spread now: BloFin against Kraken Futures−0.017%57s7-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 BloFin

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: +$82 a day on $10k at the current rate. The two prices were read 57 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_SUSD	0.04045	−0.2384	get 0.0298% / 1h	16m 14s	$35K	$16K	10x
Short	BloFin S-USDT	0.04044	0.0340	get 0.0170% / 4h	1h 16m	$279K	$115K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.017%Rate

Funding earned: $571.96
Price spread: −0.017% → 0.000%: −$1.65
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $548.3
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 3 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 BloFin live order book, 3 min ago	3.71 bp	18.6 bp −$19	55.4 bp −$554	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.

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	−0.7736%	1h	0.03950	−2.341%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSDlong	−0.2384%	1h	0.04045	long leg	$35K	$16K	10x
Coinbase International S-PERP-INTX	−0.1120%	1h	0.03961	−2.069%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04046	+0.025%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04036	−0.218%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04040	−0.103%	$623	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.368%	$2K	$37K	12x	as long as short
Variational Omni S	+0.0038%	4h	0.04043	−0.046%	$627K	$22K	—	as long as short
Orderly PERP_S_USDC	+0.0086%	4h	0.04046	+0.033%	$100K	$588K	10x	as long as short
Lighter S	+0.0096%	1h	0.04055	+0.255%	$173K	$139K	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	0.04038	−0.172%	$1.0M	$580K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04044	−0.006%	$48K	$110K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04051	+0.163%	$5.7M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04041	−0.091%	$5.8M	$4.1M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04045	+0.008%	$1.0M	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04035	−0.239%	$328K	$179K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04044	−0.017%	$4.1M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04039	−0.140%	$1.8M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04043	−0.041%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04042	−0.066%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04050	+0.132%	$23K	$490K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04043	−0.045%	$233K	$396K	10x	as long as short
BloFin S-USDTshort	+0.0340%	4h	0.04044	−0.017%	$279K	$115K	75x
Deribit S_USDC-PERPETUAL	+0.0739%	1h	0.04050	+0.132%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1775%	1h	0.04050	+0.132%	$118K	$426K	5x	as long as short