Funding arb · Price arb /

COMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0278%/8h= −30.5% APRpaid last 24h +0.134%

Price spread now: BloFin against Kraken Futures−0.239%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1111.106% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.300%+$30 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.239%, 7d avg −0.129%

Together, before fees+0.417%+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and BloFin is 0.111% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.129%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.300%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_COMPUSD	22.354	0.0404	pay 0.0050% / 1h	56m 36s	$221K	$79K	20x
Short	BloFin COMP-USDT	22.300	0.0126	get 0.0126% / 8h	5h 56m	$231K	$165K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.239%Rate

Funding earned: −$58.41
Price spread: −0.239% → −0.129%: −$11.09
Slippage, 4 orders: −$88.59
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$180.1
Costs to cover: 1.106%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 54 min ago; BloFin: live order book, 49 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 Kraken Futures live order book, 54 min ago	11.16 bp	39.5 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 49 min ago	2.24 bp	14.0 bp −$14	33.5 bp −$335	doesn't fit	doesn't fit

COMP on 16 exchanges

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
Deribit COMP_USDC-PERPETUAL	−0.0198%	1h	22.330	−0.105%	$281	$507	50x	as long as short
dYdX COMP-USD	0.0000%	1h	22.330	−0.105%	$68K	$16	5x	as long as short
Injective COMP/USDC PERP	+0.0033%	1h	22.820	+2.087%	$1K	$13K	12x	as long as short
Hyperliquid COMP	+0.0100%	1h	22.349	−0.020%	$807K	$321K	5x	as long as short
Binance COMPUSDT	+0.0100%	8h	22.322	−0.141%	$4.2M	$6.3M	75x	as long as short
Bybit COMPUSDT	+0.0100%	8h	22.339	−0.065%	$3.8M	$1.5M	75x	as long as short
OKX COMP-USDT-SWAP	+0.0100%	8h	22.320	−0.150%	$1.7M	$2.1M	20x	as long as short
Gate COMP_USDT	+0.0100%	8h	22.340	−0.061%	$217K	$55K	25x	as long as short
MEXC COMP_USDT	+0.0100%	8h	22.330	−0.105%	$2.4M	$828K	20x	as long as short
KuCoin COMPUSDTM	+0.0100%	8h	22.350	−0.016%	$464K	$125K	30x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget COMPUSDT	+0.0100%	8h	22.320	−0.150%	$1.9M	$594K	75x	as long as short
BingX COMP-USDT	+0.0100%	8h	22.320	−0.150%	—	$14.0M	—	as long as short
Variational Omni COMP	+0.0100%	8h	22.310	−0.196%	$13K	$16K	—	as long as short
BloFin COMP-USDTshort	+0.0126%	8h	22.300	−0.239%	$231K	$165K	20x
Kraken Futures PF_COMPUSDlong	+0.0404%	1h	22.354	long leg	$221K	$79K	20x
Coinbase International COMP-PERP-INTX	+0.0704%	1h	22.400	+0.208%	$16K	$40K	25x	as long as short