Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2243%/8h= +245.6% APRpaid last 24h −1.073%

Price spread now: KuCoin against Kraken Futures−0.122%7-day average −0.107% · you buy dearer than you sell

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

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.128%−$13 on $10k

Price spread, last 4 days (all we have)+0.229%+$23 · spread now −0.122%, 7d avg −0.107%

Together, before fees+0.101%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.107%, so right now this pair is about funding alone: +$67 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.128%, 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 -0.128% in total (about -6.7% 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	0.005494	−0.2143	get 0.0268% / 1h	6m 21s	$19K	$106K	10x
Short	KuCoin ATHUSDTM	0.005487	0.0100	get 0.0050% / 4h	3h 06m	$554K	$77K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now −0.122%Rate

Funding earned: $470.96
Price spread: −0.122% → −0.107%: −$1.47
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $447.49
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: live order book, 46 min ago; KuCoin: live order book, 67 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, 46 min ago	19.01 bp	813.2 bp −$813	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 67 min ago	12.73 bp	230.7 bp −$231	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_ATHUSDlong	−0.2143%	1h	0.005494	long leg	$19K	$106K	10x
Variational Omni ATH	−0.0086%	4h	0.005463	−0.559%	$183K	$93K	—	as long as short
dYdX ATH-USD	0.0000%	1h	0.005499	+0.097%	$11K	$58	5x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005494	+0.013%	$4K	$42K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005494	+0.013%	$3.3M	$4.3M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005484	−0.176%	$4.3M	$2.6M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005485	−0.158%	$708K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005485	−0.158%	$785K	$600K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005494	+0.006%	$8.9M	$646K	50x	as long as short
KuCoin ATHUSDTMshort	+0.0100%	4h	0.005487	−0.122%	$554K	$77K	30x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ATHUSDT	+0.0100%	4h	0.005491	−0.049%	$1.6M	$893K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005490	−0.067%	—	$21.4M	—	as long as short
BloFin ATH-USDT	+0.0116%	4h	0.005488	−0.103%	$164K	$68K	75x	as long as short