Funding arb · Price arb /

ATH

all ATH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2064%/8h= +226.0% APRpaid last 24h −1.062%

Price spread now: Binance against Kraken Futures+0.136%7-day average −0.037% · you sell dearer than you buy

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

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.136%, 7d avg −0.037%

Together, before fees−0.186%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$62 a day on $10k at the current rate, and Binance is 0.174% dearer against Kraken Futures than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.037%. Mind the row above: over the last 7 days funding on this pair cost −0.109%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.109% in total (about -5.7% 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	Kraken Futures PF_ATHUSD	0.005393	−0.1964	get 0.0246% / 1h	28m 10s	$18K	$108K	10x
Short	Binance ATHUSDT	0.005400	0.0100	get 0.0050% / 4h	2h 28m	$3.2M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.136%Rate

Funding earned: $433.46
Price spread: +0.136% → −0.037%: $17.35
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $430.82
Costs to cover: 0.200%
Break-even: 0.0 days

Slippage unknown: Kraken Futures: live order book, 19 min ago; Binance: live order book, 9 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 Kraken Futures live order book, 19 min ago	18.30 bp	73.8 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	4.60 bp	32.8 bp −$33	86.5 bp −$865	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_ATHUSDlong	−0.1964%	1h	0.005393	long leg	$18K	$108K	10x
Variational Omni ATH	−0.0140%	4h	0.005394	+0.019%	$181K	$93K	—	as long as short
dYdX ATH-USD	0.0000%	1h	0.005410	+0.324%	$11K	$59	5x	as long as short
BloFin ATH-USDT	+0.0080%	4h	0.005415	+0.414%	$162K	$69K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005402	+0.172%	$6K	$41K	5x	as long as short
Binance ATHUSDTshort	+0.0100%	4h	0.005400	+0.136%	$3.2M	$4.3M	50x
Bybit ATHUSDT	+0.0100%	4h	0.005390	−0.049%	$4.2M	$2.6M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005393	+0.006%	$694K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005392	−0.012%	$771K	$605K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005397	+0.081%	$8.7M	$659K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005405	+0.229%	$540K	$80K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005401	+0.155%	$1.5M	$924K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005396	+0.062%	—	$21.4M	—	as long as short