Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1998%/8h= −218.7% APRpaid last 24h −0.343%

Price spread now: Kraken Futures against Gate+0.073%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$370as in the Funding arb table

Net, price: spread back to 7d avg − costs−$232as in the Price arb table

costs, in and out, $10k−$2272.270% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.427%−$143 on $10k

Price spread, last 3 days (all we have)−0.411%−$41 · spread now +0.073%, 7d avg +0.125%

Together, before fees−1.838%−$184 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$60 a day on $10k at the current rate, and Kraken Futures is 0.051% cheaper against Gate than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.125%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AR_USDT	4.5560	0.0100	pay 0.0100% / 8h	1h 17m	$2.6M	$2.3M	50x
Short	Kraken Futures PF_ARUSD	4.5593	−0.1898	pay 0.0237% / 1h	17m 42s	$47K	$156K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$419.52
Price spread: +0.073% → +0.125%: −$5.14
Slippage, 4 orders: −$201.96
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$651.62
Costs to cover: 2.270%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Kraken Futures: live order book, 65 min ago.

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 Gate live order book, 5 min ago	3.32 bp	65.7 bp −$66	343.1 bp −$3,431	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 65 min ago	32.26 bp	46.3 bp −$46	doesn't fit	doesn't fit	doesn't fit

AR on 17 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_ARUSDshort	−0.1898%	1h	4.5593	+0.073%	$47K	$156K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5506	−0.119%	$584K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+0.351%	$3K	$339	5.5x	as long as short
OKX AR-USDT-SWAP	+0.0044%	8h	4.5560	0.000%	$2.3M	$20.8M	20x	as long as short
Extended AR-USD	+0.0080%	1h	4.5561	+0.002%	$37K	$237K	10x	as long as short
MEXC AR_USDT	+0.0083%	8h	4.5590	+0.066%	$6.8M	$4.6M	100x	as long as short
Binance ARUSDT	+0.0084%	8h	4.5584	+0.054%	$9.0M	$55.7M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5681	+0.266%	$3.9M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5559	−0.002%	$20K	$615K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5579	+0.042%	$4.7M	$8.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDTlong	+0.0100%	8h	4.5560	long leg	$2.6M	$2.3M	50x
KuCoin ARUSDTM	+0.0100%	8h	4.5570	+0.022%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5540	−0.044%	$3.9M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5580	+0.044%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5284	−0.605%	$137K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5300	−0.571%	$57K	$748K	50x	as long as short
BloFin AR-USDT	+0.0202%	8h	4.5410	−0.329%	$421K	$673K	20x	as long as short