Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0246%/8h= −26.9% APRpaid last 24h −0.135%

Price spread now: Binance against Kraken Futures−0.922%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Binance

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 −$7 a day on $10k at the current rate, and Binance is 0.922% cheaper against Kraken Futures than usual: you would sell low and buy high (−$92 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	Kraken Futures PF_ALTUSD	0.007539	0.0346	pay 0.0043% / 1h	58m 58s	$44K	$8K	10x
Short	Binance ALTUSDT	0.007469	0.0100	get 0.0050% / 4h	1h 58m	$2.6M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.922%Rate

Funding earned: −$51.67
Price spread: −0.922% → 0.000%: −$92.2
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$163.87
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 7 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 Binance live order book, 7 min ago	2.01 bp	21.2 bp −$21	93.0 bp −$930	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.

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
Variational Omni ALT	−0.0296%	4h	0.007453	−1.131%	$4K	$12K	—	as long as short
Deribit ALT_USDC-PERPETUAL	−0.0285%	1h	0.007469	−0.922%	—	$0	25x	as long as short
Bybit ALTUSDT	−0.0185%	4h	0.007465	−0.975%	$1.2M	$1.6M	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−2.089%	$815	$4K	5.5x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007464	−0.988%	$1.1M	$186K	3x	as long as short
Binance ALTUSDTshort	+0.0100%	4h	0.007469	−0.922%	$2.6M	$3.5M	50x
Gate ALT_USDT	+0.0100%	8h	0.007454	−1.121%	$51K	$409K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007469	−0.922%	$379K	$186K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007468	−0.935%	$149K	$22K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007456	−1.094%	$613K	$99K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ALT-USDT	+0.0100%	4h	0.007461	−1.028%	—	$1.3M	—	as long as short
BloFin ALT-USDT	+0.0158%	4h	0.007460	−1.041%	$172K	$9K	50x	as long as short
Kraken Futures PF_ALTUSDlong	+0.0346%	1h	0.007539	long leg	$44K	$8K	10x
Coinbase International ALT-PERP-INTX	+0.0448%	1h	0.007486	−0.696%	$14K	$3K	50x	as long as short