Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.2031%/8h= −222.4% APRpaid last 24h −0.352%

Price spread now: Kraken Futures against MEXC−0.040%7-day average +0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$930.928% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.433%−$143 on $10k

Price spread, last 3 days (all we have)−0.430%−$43 · spread now −0.040%, 7d avg +0.076%

Together, before fees−1.862%−$186 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$61 a day on $10k at the current rate, and Kraken Futures is 0.116% cheaper against MEXC than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AR_USDT	4.4750	0.0097	pay 0.0097% / 8h	1h 45m	$6.7M	$4.5M	100x
Short	Kraken Futures PF_ARUSD	4.4732	−0.1934	pay 0.0242% / 1h	45m 32s	$46K	$154K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$426.56
Price spread: −0.040% → +0.076%: −$11.56
Slippage, 4 orders: −$78.79
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$530.91
Costs to cover: 0.928%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Kraken Futures: live order book, 37 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 MEXC live order book, 2 min ago	1.12 bp	3.1 bp −$3	17.7 bp −$177	212.9 bp −$21.3K	doesn't fit
Sell Kraken Futures live order book, 37 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	−0.1934%	1h	4.4732	−0.040%	$46K	$154K	20x
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4710	−0.089%	$574K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.168%	$3K	$339	5.5x	as long as short
OKX AR-USDT-SWAP	+0.0089%	8h	4.4720	−0.067%	$2.2M	$20.5M	20x	as long as short
Extended AR-USD	+0.0096%	1h	4.4731	−0.042%	$36K	$237K	10x	as long as short
MEXC AR_USDTlong	+0.0097%	8h	4.4750	long leg	$6.7M	$4.5M	100x
Binance ARUSDT	+0.0098%	8h	4.4750	0.000%	$8.7M	$55.6M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.4791	+0.092%	$3.8M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4774	+0.054%	$20K	$621K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4740	−0.022%	$4.6M	$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_USDT	+0.0100%	8h	4.4740	−0.022%	$2.5M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.4780	+0.067%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4740	−0.022%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4740	−0.022%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4641	−0.243%	$135K	$174K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4750	0.000%	$57K	$746K	50x	as long as short
BloFin AR-USDT	+0.0218%	8h	4.4690	−0.134%	$418K	$667K	20x	as long as short