Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2064%/8h= +226.1% APRpaid last 24h +0.533%

Price spread now: OKX against Kraken Futures+0.140%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 OKX

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 +$62 a day on $10k at the current rate, and OKX is 0.140% dearer against Kraken Futures than usual: you sell high and buy low: +$14 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	0.04022	−0.1964	get 0.0246% / 1h	57m 59s	$35K	$16K	10x
Short	OKX S-USDT-SWAP	0.04028	0.0100	get 0.0050% / 4h	57m 59s	$1.0M	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.140%Rate

Funding earned: $433.53
Price spread: +0.140% → 0.000%: $13.97
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $427.5
Costs to cover: 0.200%
Break-even: 0.1 days

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	1.24 bp	28.8 bp −$29	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	−0.5800%	1h	0.03940	−2.048%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSDlong	−0.1964%	1h	0.04022	long leg	$35K	$16K	10x
Coinbase International S-PERP-INTX	−0.1064%	1h	0.03961	−1.526%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04029	+0.165%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04021	−0.026%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04028	+0.138%	$621	—	150x	as long as short
Variational Omni S	+0.0027%	4h	0.04018	−0.102%	$625K	$19K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.930%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0085%	4h	0.04029	+0.165%	$100K	$582K	10x	as long as short
Lighter S	+0.0096%	1h	0.04032	+0.239%	$172K	$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	0.04031	+0.212%	$1.0M	$579K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04028	+0.130%	$47K	$110K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04028	+0.141%	$5.7M	$13.5M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04025	+0.065%	$5.7M	$4.1M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.04028	+0.140%	$1.0M	$3.7M	20x
Gate S_USDT	+0.0100%	4h	0.04024	+0.040%	$327K	$174K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04028	+0.140%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04027	+0.115%	$1.8M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04029	+0.165%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04028	+0.140%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04030	+0.189%	$23K	$487K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04027	+0.124%	$226K	$923K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04027	+0.115%	$278K	$115K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0495%	1h	0.04032	+0.239%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1681%	1h	0.04040	+0.438%	$117K	$426K	5x	as long as short