Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1784%/8h= +195.3% APRpaid last 24h +0.396%

Price spread now: Bitget against Kraken Futures−0.333%7-day average −0.166% · you buy dearer than you sell

Net, funding: paid 7d − costs+$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$158as in the Price arb table

costs, in and out, $10k−$1411.409% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+1.559%+$156 on $10k

Price spread, last 3 days (all we have)+0.465%+$46 · spread now −0.333%, 7d avg −0.166%

Together, before fees+2.023%+$202 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.167% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.333% now, against its 7-day average of −0.166%). If the spread goes back, that is −$17 on $10k: about 8 hours of funding at the current rate (+$54 a day). At the pace of the last 7 days (+1.559% in total) that is about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARUSD	4.5502	−0.1684	get 0.0210% / 1h	4m 00s	$56K	$149K	20x
Short	Bitget ARUSDT	4.5350	0.0100	get 0.0100% / 8h	6h 04m	$3.9M	$5.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.333%Rate

Funding earned: $374.58
Price spread: −0.333% → −0.166%: −$16.74
Slippage, 4 orders: −$118.92
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $216.92
Costs to cover: 1.409%
Break-even: 2.9 days

Slippage from Kraken Futures: live order book, 63 min ago; Bitget: live order book, 4 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 Kraken Futures live order book, 63 min ago	42.15 bp	49.1 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.20 bp	10.1 bp −$10	41.8 bp −$418	doesn't fit	doesn't fit

AR on 16 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_ARUSDlong	−0.1684%	1h	4.5502	long leg	$56K	$149K	20x
Injective AR/USDC PERP	−0.0353%	1h	4.6110	+1.337%	$2K	$2K	5.5x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5425	−0.168%	$584K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0098%	8h	4.5390	−0.245%	$2.3M	$19.2M	20x	as long as short
MEXC AR_USDT	+0.0075%	8h	4.5400	−0.223%	$6.5M	$4.3M	100x	as long as short
Binance ARUSDT	+0.0077%	8h	4.5410	−0.201%	$9.1M	$52.4M	75x	as long as short
Extended AR-USD	+0.0080%	1h	4.5393	−0.238%	$37K	$240K	10x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5479	−0.050%	$4.1M	$4.6M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5432	−0.154%	$19K	$500K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5400	−0.223%	$4.7M	$8.5M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5390	−0.245%	$2.5M	$2.2M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5370	−0.289%	$1.2M	$1.1M	50x	as long as short
Bitget ARUSDTshort	+0.0100%	8h	4.5350	−0.333%	$3.9M	$5.4M	75x
BingX AR-USDT	+0.0100%	8h	4.5390	−0.245%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5342	−0.351%	$235K	$261K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5410	−0.201%	$20K	$749K	50x	as long as short