Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1777%/8h= +194.5% APRpaid last 24h +0.509%

Price spread now: Gate against Kraken Futures+0.103%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Gate

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 for this trade now. Funding pays +$53 a day on $10k at the current rate, and Gate is 0.103% dearer against Kraken Futures than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SUSD	0.04098	−0.1677	get 0.0210% / 1h	7m 58s	$34K	$13K	10x
Short	Gate S_USDT	0.04102	0.0100	get 0.0050% / 4h	1h 07m	$337K	$201K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.103%Rate

Funding earned: $373.09
Price spread: +0.103% → 0.000%: $10.25
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $358.34
Costs to cover: 0.250%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: no order-book sample; Gate: live order book, 52 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 Gate live order book, 52 min ago	8.67 bp	75.6 bp −$76	doesn't fit	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	−1.1664%	1h	0.03960	−3.363%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSDlong	−0.1677%	1h	0.04098	long leg	$34K	$13K	10x
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−1.850%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04108	+0.259%	$1K	—	100x	as long as short
Variational Omni S	−0.0108%	4h	0.04110	+0.303%	$636K	$31K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04104	+0.145%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04109	+0.272%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.054%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0068%	4h	0.04107	+0.225%	$102K	$324K	10x	as long as short
Lighter S	+0.0096%	1h	0.04109	+0.273%	$172K	$157K	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	0.04105	+0.178%	$1.0M	$556K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04106	+0.191%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04100	+0.061%	$5.7M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04097	−0.019%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04102	+0.103%	$1.1M	$4.0M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.04102	+0.103%	$337K	$201K	50x
MEXC S_USDT	+0.0100%	4h	0.04102	+0.103%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04103	+0.127%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04104	+0.151%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04102	+0.103%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04120	+0.542%	$25K	$451K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04102	+0.112%	$231K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04098	+0.005%	$281K	$104K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0480%	1h	0.04110	+0.298%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1530%	1h	0.04110	+0.298%	$121K	$374K	5x	as long as short