ARB

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1539%/8h= −168.5% APRnext payment −$1.92 per $10,000 · paid last 24h −0.494%

Price spread now: Injective against Kraken Futures−0.766%63s7-day average −0.490% · you buy dearer than you sell

Net, funding: paid 7d − costs−$481as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1401.398% of the position

Long on Kraken Futures Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.415%−$342 on $10k

Price spread, last 4 days (all we have)+0.483%+$48 · spread now −0.766%, 7d avg −0.490%

Together, before fees−2.932%−$293 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$46 a day on $10k at the current rate, and Injective is 0.276% cheaper against Kraken Futures than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.490%). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ARBUSD	0.2191	−0.0050	get 0.0006% / 1h	20m 15s	$1.1M	$4.4M	50x
Short	Injective ARB/USDC PERP	0.2174	−0.1589	pay 0.0199% / 1h	20m 15s	$39K	$372K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.766%Rate

Funding earned: −$323.09
Price spread: −0.766% → −0.490%: −$27.58
Slippage, 4 orders: −$129.79
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$490.47
Costs to cover: 1.398%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Injective: live order book, 34 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, 4 min ago	8.00 bp	14.9 bp −$15	21.1 bp −$211	doesn't fit	doesn't fit
Sell Injective live order book, 34 min ago	52.31 bp	52.3 bp −$52	doesn't fit	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERPshort	−0.1589%	1h	0.2174	−0.766%	$39K	$372K	12x
Polymarket Perps ARB-USD	−0.0178%	1h	0.2188	−0.113%	$69K	$2.1M	10x	as long as short
OKX ARB-USDT-SWAP	−0.0103%	8h	0.2188	−0.108%	$22.0M	$141.9M	50x	as long as short
MEXC ARB_USDT	−0.0103%	8h	0.2189	−0.099%	$41.6M	$60.6M	200x	as long as short
Variational Omni ARB	−0.0097%	8h	0.2188	−0.142%	$1.8M	$3.0M	—	as long as short
Orderly PERP_ARB_USDC	−0.0065%	8h	0.2189	−0.081%	$12K	$407K	10x	as long as short
Bybit ARBUSDT	−0.0056%	8h	0.2188	−0.108%	$55.3M	$123.2M	50x	as long as short
Kraken Futures PF_ARBUSDlong	−0.0050%	1h	0.2191	long leg	$1.1M	$4.4M	50x
01 Exchange ARBUSD	−0.0008%	1h	0.2190	−0.031%	$7K	$2K	10x	as long as short
Gate ARB_USDT	−0.0003%	8h	0.2189	−0.067%	$5.3M	$18.1M	60x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2189	−0.085%	$65K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2190	−0.058%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2190	−0.057%	$44K	—	150x	as long as short
Binance ARBUSDT	+0.0047%	8h	0.2189	−0.092%	$64.0M	$298.7M	75x	as long as short
Extended ARB-USD	+0.0048%	1h	0.2188	−0.118%	$349K	$2.5M	25x	as long as short
Bitget ARBUSDT	+0.0053%	8h	0.2188	−0.127%	$20.8M	$33.8M	50x	as long as short
BingX ARB-USDT	+0.0053%	8h	0.2189	−0.095%	—	$53.7M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2189	−0.095%	$1.3M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2190	−0.035%	$139K	$7K	3x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2190	−0.035%	$37.3M	$48.4M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2189	−0.077%	$630K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2188	−0.104%	$42K	$159K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2191	+0.001%	$19.5M	$14.5M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2186	−0.199%	$38K	$463K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2189	−0.081%	$467K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2187	−0.172%	$118K	$283K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2191	+0.010%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2189	−0.072%	$10K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2189	−0.067%	$297K	$885K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2189	−0.081%	$5.0M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0118%	1h	0.2190	−0.049%	$468K	$2.6M	10x	as long as short
BloFin ARB-USDT	+0.0166%	8h	0.2187	−0.159%	$3.1M	$2.5M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0256%	1h	0.2194	+0.147%	$494K	$1.6M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2190	−0.054%	$826K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2189	−0.103%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0556%	1h	0.2191	+0.019%	$985K	$2.8M	20x	as long as short