Funding arb · Price arb /

ATH

all ATH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2981%/8h= +326.4% APRpaid last 24h −1.097%

Price spread now: Bitget against Kraken Futures+0.052%7-day average −0.099% · you sell dearer than you buy

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

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$14 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.052%, 7d avg −0.099%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$89 a day on $10k at the current rate, and Bitget is 0.151% dearer against Kraken Futures than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.099%. Mind the row above: over the last 7 days funding on this pair cost −0.145%, 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 -0.145% in total (about -7.5% 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	0.005495	−0.2881	get 0.0360% / 1h	24m 08s	$19K	$106K	10x
Short	Bitget ATHUSDT	0.005498	0.0100	get 0.0050% / 4h	24m 08s	$1.5M	$887K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.052%Rate

Funding earned: $626
Price spread: +0.052% → −0.099%: $15.07
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $619.06
Costs to cover: 0.220%
Break-even: 0.1 days

Slippage unknown: Kraken Futures: live order book, 33 min ago; Bitget: live order book, 3 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, 33 min ago	17.30 bp	838.2 bp −$838	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	7.27 bp	29.5 bp −$29	143.3 bp −$1,433	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	−0.2881%	1h	0.005495	long leg	$19K	$106K	10x
Variational Omni ATH	−0.0087%	4h	0.005495	+0.006%	$184K	$93K	—	as long as short
dYdX ATH-USD	0.0000%	1h	0.005500	+0.088%	$11K	$57	5x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005503	+0.150%	$5K	$42K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005502	+0.133%	$3.3M	$4.3M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005492	−0.058%	$4.3M	$2.6M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005491	−0.076%	$704K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005491	−0.076%	$786K	$583K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005503	+0.143%	$8.9M	$637K	50x	as long as short
KuCoin ATHUSDTM	+0.0100%	4h	0.005497	+0.033%	$555K	$78K	30x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ATHUSDTshort	+0.0100%	4h	0.005498	+0.052%	$1.5M	$887K	25x
BingX ATH-USDT	+0.0100%	4h	0.005497	+0.033%	—	$21.6M	—	as long as short
BloFin ATH-USDT	+0.0132%	4h	0.005521	+0.470%	$167K	$69K	75x	as long as short