Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1019%/8h= +111.6% APRpaid last 24h +0.274%

Price spread now: Gate against Kraken Futures−0.088%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2222.221% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+1.398%+$140 on $10k

Price spread, last 4 days (all we have)+0.257%+$26 · spread now −0.088%, 7d avg −0.111%

Together, before fees+1.656%+$166 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Gate is 0.023% dearer against Kraken Futures than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARUSD	4.1947	−0.0919	get 0.0115% / 1h	33m 27s	$52K	$178K	20x
Short	Gate AR_USDT	4.1910	0.0100	get 0.0100% / 8h	2h 33m	$2.3M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.088%Rate

Funding earned: $213.94
Price spread: −0.088% → −0.111%: $2.31
Slippage, 4 orders: −$197.07
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$5.82
Costs to cover: 2.221%
Break-even: 7.2 days

Slippage from Kraken Futures: live order book, 14 min ago; Gate: 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, 14 min ago	27.60 bp	40.4 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	7.14 bp	55.2 bp −$55	288.1 bp −$2,881	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_ARUSDlong	−0.0919%	1h	4.1947	long leg	$52K	$178K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.1971	+0.056%	$539K	—	50x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2016	+0.164%	$3.4M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.1992	+0.108%	$39K	$460K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.1967	+0.048%	$8.3M	$51.7M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.1940	−0.017%	$4.2M	$9.1M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.1950	+0.007%	$2.1M	$16.8M	20x	as long as short
Gate AR_USDTshort	+0.0100%	8h	4.1910	−0.088%	$2.3M	$2.6M	50x
MEXC AR_USDT	+0.0100%	8h	4.1980	+0.079%	$5.6M	$4.3M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.1920	−0.064%	$1.1M	$1.3M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.1930	−0.041%	$3.7M	$5.4M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.1980	+0.079%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.2158	+0.504%	$236K	$626K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.2150	+0.484%	$20K	$718K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.1959	+0.028%	$35K	$245K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.2110	+0.389%	$415K	$457K	20x	as long as short
Injective AR/USDC PERP	+0.0666%	1h	4.4240	+5.466%	$2K	$5K	5.5x	as long as short