Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.2036%/8h= −223.0% APRpaid last 24h +1.063%

Price spread now: Kraken Futures against BloFin+0.322%57s7-day average −0.007% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)−0.321%−$32 · spread now +0.322%, 7d avg −0.007%

Together, before fees−0.210%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.329% dearer against BloFin than usual: you sell high and buy low (spread +0.322% now, against its 7-day average of −0.007%): +$33 on $10k if it goes back. Holding the pair costs −$61 a day in funding at the current rate, which eats that in about 13 hours. Mind the row above: over the last 7 days funding on this pair paid +0.111%, so the current rate has only just turned against you. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.111% in total (about 5.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ATH-USDT	0.005529	0.0127	pay 0.0063% / 4h	2h 01m	$161K	$71K	75x
Short	Kraken Futures PF_ATHUSD	0.005547	−0.1910	pay 0.0239% / 1h	1m 29s	$17K	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.322%Rate

Funding earned: −$427.63
Price spread: +0.322% → −0.007%: $32.91
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$416.72
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: BloFin: live order book, 13 min ago; Kraken Futures: live order book, 46 min ago. Net counts fees only.

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 BloFin live order book, 13 min ago	0.91 bp	10.5 bp −$10	58.8 bp −$588	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 46 min ago	18.30 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

ATH on 13 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_ATHUSDshort	−0.1910%	1h	0.005547	+0.322%	$17K	$109K	10x
Variational Omni ATH	−0.0131%	4h	0.005509	−0.361%	$185K	$93K	—	as long as short
dYdX ATH-USD	0.0000%	1h	0.005527	−0.037%	$11K	$59	5x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005533	+0.079%	$5K	$41K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005532	+0.054%	$3.3M	$4.4M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005523	−0.109%	$4.4M	$2.7M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005523	−0.109%	$713K	$1.4M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005532	+0.054%	$791K	$614K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005536	+0.127%	$8.9M	$668K	50x	as long as short
KuCoin ATHUSDTM	+0.0100%	4h	0.005536	+0.127%	$554K	$79K	30x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ATHUSDT	+0.0100%	4h	0.005527	−0.036%	$1.6M	$928K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005526	−0.054%	—	$21.4M	—	as long as short
BloFin ATH-USDTlong	+0.0127%	4h	0.005529	long leg	$161K	$71K	75x