Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0774%/8h= −84.8% APRnext payment −$0.97 per $10,000 · paid last 24h —

Price spread now: Kraken Futures against Deribit+0.044%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 9 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Kraken Futures is 0.044% dearer against Deribit than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ALT_USDC-PERPETUAL	0.007568	0.0279	pay 0.0035% / 1h	25m 43s	—	$0	25x
Short	Kraken Futures PF_ALTUSD	0.007571	−0.0495	pay 0.0062% / 1h	25m 43s	$44K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$162.59
Price spread: +0.044% → 0.000%: $4.37
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$175.22
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; 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 Deribit no order-book sample	—	—	—	—	—
Sell Kraken Futures no order-book sample	—	—	—	—	—

Deribit and 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.

ALT on 14 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_ALTUSDshort	−0.0495%	1h	0.007571	+0.044%	$44K	$8K	10x
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−2.471%	$815	$4K	5.5x	as long as short
Gate ALT_USDT	+0.0058%	8h	0.007566	−0.026%	$51K	$406K	25x	as long as short
Variational Omni ALT	+0.0058%	4h	0.007559	−0.122%	$5K	$13K	—	as long as short
BloFin ALT-USDT	+0.0080%	4h	0.007556	−0.159%	$171K	$10K	50x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007561	−0.092%	$1.1M	$179K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007569	+0.010%	$2.6M	$3.6M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007561	−0.092%	$1.2M	$1.6M	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007567	−0.013%	$413K	$186K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007571	+0.040%	$149K	$21K	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ALTUSDT	+0.0100%	4h	0.007555	−0.172%	$600K	$124K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007567	−0.013%	—	$1.3M	—	as long as short
Deribit ALT_USDC-PERPETUALlong	+0.0279%	1h	0.007568	long leg	—	$0	25x
Coinbase International ALT-PERP-INTX	+0.0392%	1h	0.007589	+0.277%	$14K	$3K	50x	as long as short