Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0135%/8h= +14.7% APRpaid last 24h −0.014%

Price spread now: Kraken Futures against Phemex−0.032%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$740.743% of the position

Long on Phemex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$8 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now −0.032%, 7d avg +0.049%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.081% cheaper against Phemex than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.049%). If the spread goes back, that is −$8 on $10k: about 2.0 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.085%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ARBUSDT	0.2279	0.0100	pay 0.0100% / 8h	43m 53s	$5.3M	$13.2M	50x
Short	Kraken Futures PF_ARBUSD	0.2278	0.0235	get 0.0029% / 1h	43m 53s	$1.2M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phemex. 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 PhemexbpFee Kraken FuturesbpOrdersPrice spread, now −0.032%Rate

Funding earned: $28.29
Price spread: −0.032% → +0.049%: −$8.12
Slippage, 4 orders: −$52.28
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$54.11
Costs to cover: 0.743%
Break-even: 20.4 days

Slippage from Phemex: live order book, 5 min ago; Kraken Futures: live order book, 5 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 Phemex live order book, 5 min ago	8.69 bp	18.0 bp −$18	33.0 bp −$330	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	13.27 bp	18.6 bp −$19	25.6 bp −$256	405.2 bp −$40.5K	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 PERP	−0.1785%	1h	0.2264	−0.658%	$41K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0282%	1h	0.2278	−0.061%	$79K	$2.0M	10x	as long as short
Variational Omni ARB	−0.0182%	8h	0.2277	−0.094%	$1.9M	$2.7M	—	as long as short
Bybit ARBUSDT	−0.0161%	8h	0.2275	−0.158%	$58.6M	$129.2M	50x	as long as short
01 Exchange ARBUSD	−0.0152%	1h	0.2278	−0.031%	$7K	$2K	10x	as long as short
OKX ARB-USDT-SWAP	−0.0111%	8h	0.2276	−0.145%	$23.0M	$161.3M	50x	as long as short
MEXC ARB_USDT	−0.0108%	8h	0.2278	−0.061%	$38.5M	$59.5M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0040%	8h	0.2276	−0.132%	$13K	$397K	10x	as long as short
SoDEX ARB-USD	−0.0027%	1h	0.2277	−0.105%	$4K	$2.6M	5x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0013%	1h	0.2278	−0.061%	$26K	$32K	25x	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	0.2278	−0.048%	$67K	$4K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2275	−0.176%	$363K	$2.3M	25x	as long as short
Binance ARBUSDT	+0.0002%	8h	0.2276	−0.125%	$66.6M	$314.9M	75x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2279	0.000%	$56K	—	150x	as long as short
BloFin ARB-USDT	+0.0007%	8h	0.2280	+0.031%	$3.1M	$2.8M	75x	as long as short
Gate ARB_USDT	+0.0025%	8h	0.2276	−0.136%	$5.5M	$20.1M	60x	as long as short
BingX ARB-USDC	+0.0068%	8h	0.2273	−0.268%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0071%	8h	0.2276	−0.132%	$21.5M	$36.7M	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2279	−0.018%	$149K	$12K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2279	−0.004%	$1.4M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2280	+0.057%	$41.4M	$48.0M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2278	−0.052%	$709K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2278	−0.038%	$48K	$187K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2277	−0.083%	$19.8M	$16.3M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2299	+0.865%	$41K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2299	+0.897%	$490K	$3.7M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2286	+0.307%	$123K	$295K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2282	+0.132%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2278	−0.022%	$293K	$1.1M	50x	as long as short
Phemex ARBUSDTlong	+0.0100%	8h	0.2279	long leg	$5.3M	$13.2M	50x
Coinbase International ARB-PERP-INTX	+0.0216%	1h	0.2280	+0.044%	$512K	$2.3M	50x	as long as short
Kraken Futures PF_ARBUSDshort	+0.0235%	1h	0.2278	−0.032%	$1.2M	$4.9M	50x
Reya ARBRUSDPERP	+0.0290%	1h	0.2277	−0.090%	$2K	$695	20x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0296% / S −0.0186%	1h	0.2279	−0.011%	$931K	—	150x	as long as short
RISEx ARB/USDC	+0.0330%	1h	0.2280	+0.054%	$504K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0483%	1h	0.2281	+0.083%	$931K	$2.8M	20x	as long as short