Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.065%

Price spread now: Orderly against Kraken Futures0.000%7-day average −0.050% · you sell dearer than you buy

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

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.296%−$30 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now 0.000%, 7d avg −0.050%

Together, before fees−0.370%−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Orderly is 0.050% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.050%. Mind the row above: over the last 7 days funding on this pair cost −0.296%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TIAUSD	0.4396	0.0075	pay 0.0009% / 1h	1m 15s	$359K	$198K	50x
Short	Orderly PERP_TIA_USDC	0.4396	0.0100	get 0.0050% / 4h	1h 01m	$5K	$286K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now 0.000%Rate

Funding earned: $5.26
Price spread: 0.000% → −0.050%: $5.03
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$5.71
Costs to cover: 0.160%
Break-even: 14.6 days

Slippage unknown: Kraken Futures: live order book, 61 min ago; Orderly: 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 Kraken Futures live order book, 61 min ago	15.88 bp	21.6 bp −$22	62.2 bp −$622	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

TIA on 27 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
Bybit TIAUSDT	−0.0138%	4h	0.4393	−0.068%	$9.7M	$13.5M	50x	as long as short
Variational Omni TIA	−0.0057%	4h	0.4393	−0.076%	$103K	$85K	—	as long as short
KuCoin TIAUSDTM	−0.0032%	4h	0.4395	−0.022%	$4.2M	$9.0M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4399	+0.069%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4397	+0.021%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0039%	1h	0.4389	−0.159%	$49K	$231K	50x	as long as short
Kraken Futures PF_TIAUSDlong	+0.0075%	1h	0.4396	long leg	$359K	$198K	50x
Lighter TIA	+0.0096%	1h	0.4403	+0.166%	$155K	$417K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4403	+0.160%	$4.7M	$1.6M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4398	+0.050%	$32K	$245K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TIAUSDT	+0.0100%	4h	0.4398	+0.046%	$14.4M	$42.9M	75x	as long as short
OKX TIA-USDT-SWAP	+0.0100%	4h	0.4393	−0.068%	$2.8M	$6.2M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4398	+0.046%	$1.0M	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4396	0.000%	$11.9M	$6.6M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4395	−0.022%	$4.5M	$3.4M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4395	−0.022%	—	$99.1M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4391	−0.109%	$101K	$153K	10x	as long as short
Orderly PERP_TIA_USDCshort	+0.0100%	4h	0.4396	0.000%	$5K	$286K	10x
HTX TIA-USDT	+0.0100%	4h	0.4397	+0.023%	$59K	$73K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4393	−0.067%	$55K	$213K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4397	+0.035%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4393	−0.079%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0195%	1h	0.4398	+0.049%	$52K	$199	10x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4398	+0.046%	$1.6M	$720K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0376%	1h	0.4418	+0.501%	$52K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0493% / S −0.1196%	1h	0.4398	+0.037%	$40K	—	100x	as long as short
Injective TIA/USDC PERP	+0.0496%	1h	0.4415	+0.433%	$26K	$10K	12x	as long as short