Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1776%/8h= −194.4% APRpaid last 24h −0.466%

Price spread now: Kraken Futures against OKX−0.233%7-day average — · you buy dearer than you sell

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

Long on OKX 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

Both sides work against this trade now: funding costs −$53 a day on $10k at the current rate, and Kraken Futures is 0.233% cheaper against OKX than usual: you would sell low and buy high (−$23 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX S-USDT-SWAP	0.04110	0.0100	pay 0.0050% / 4h	1h 03m	$1.1M	$4.0M	20x
Short	Kraken Futures PF_SUSD	0.04100	−0.1676	pay 0.0209% / 1h	3m 57s	$34K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now −0.233%Rate

Funding earned: −$372.86
Price spread: −0.233% → 0.000%: −$23.33
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$416.19
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	2.44 bp	27.1 bp −$27	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 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	−1.1608%	1h	0.03960	−3.650%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.1676%	1h	0.04100	−0.233%	$34K	$13K	10x
Coinbase International S-PERP-INTX	−0.1456%	1h	0.04022	−2.141%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04103	−0.168%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04100	−0.236%	$4	—	15x	as long as short
Variational Omni S	−0.0073%	4h	0.04105	−0.117%	$637K	$31K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04104	−0.146%	$3K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−0.243%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0068%	4h	0.04102	−0.195%	$102K	$317K	10x	as long as short
Lighter S	+0.0096%	1h	0.04108	−0.049%	$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	0.04115	+0.112%	$1.0M	$556K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04103	−0.166%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04112	+0.050%	$5.7M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04105	−0.122%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAPlong	+0.0100%	4h	0.04110	long leg	$1.1M	$4.0M	20x
Gate S_USDT	+0.0100%	4h	0.04107	−0.073%	$338K	$201K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04110	0.000%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04108	−0.049%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04108	−0.049%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04101	−0.219%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04100	−0.243%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04107	−0.062%	$231K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04104	−0.146%	$285K	$101K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0725%	1h	0.04108	−0.049%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1533%	1h	0.04120	+0.243%	$122K	$377K	5x	as long as short