Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.2244%/8h= +245.7% APRpaid last 24h +0.570%

Price spread now: KuCoin against Kraken Futures+0.956%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 KuCoin

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 +$67 a day on $10k at the current rate, and KuCoin is 0.956% dearer against Kraken Futures than usual: you sell high and buy low: +$96 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	0.04425	−0.2144	get 0.0268% / 1h	57m 19s	$38K	$23K	10x
Short	KuCoin SUSDTM	0.04467	0.0100	get 0.0050% / 4h	2h 57m	$2.1M	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.956%Rate

Funding earned: $471.2
Price spread: +0.956% → 0.000%: $95.59
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $544.79
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 10 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 KuCoin live order book, 10 min ago	6.87 bp	221.1 bp −$221	290.8 bp −$2,908	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
Kraken Futures PF_SUSDlong	−0.2144%	1h	0.04425	long leg	$38K	$23K	10x
Coinbase International S-PERP-INTX	−0.1328%	1h	0.04308	−2.638%	$53K	$18K	25x	as long as short
01 Exchange SUSD	−0.0744%	1h	0.04380	−1.010%	$26K	$3K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04453	+0.628%	$2K	—	100x	as long as short
Variational Omni S	−0.0135%	4h	0.04430	+0.112%	$688K	$7K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04467	+0.965%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04455	+0.679%	$687	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−7.338%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0063%	4h	0.04468	+0.978%	$111K	$648K	10x	as long as short
Lighter S	+0.0096%	1h	0.04475	+1.137%	$156K	$144K	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	0.04473	+1.087%	$1.2M	$812K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04470	+1.021%	$47K	$189K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04466	+0.933%	$6.7M	$18.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04458	+0.752%	$6.4M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04464	+0.888%	$1.3M	$5.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04467	+0.956%	$376K	$211K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04469	+1.001%	$4.7M	$2.6M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.04467	+0.956%	$2.1M	$2.9M	50x
Bitget SUSDT	+0.0100%	4h	0.04465	+0.911%	$1.3M	$2.8M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04467	+0.956%	—	$7.0M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04430	+0.120%	$26K	$516K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04464	+0.894%	$245K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04478	+1.204%	$316K	$204K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0869%	1h	0.04473	+1.091%	$75K	$512	10x	as long as short
Backpack S_USDC_PERP	+0.2494%	1h	0.04480	+1.250%	$105K	$473K	5x	as long as short