Funding arb · Price arb /

COMP

all COMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0651%/8h= −71.3% APRpaid last 24h −0.070%

Price spread now: Kraken Futures against OKX+0.138%7-day average +0.139% · you sell dearer than you buy

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1181.185% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.291%−$29 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now +0.138%, 7d avg +0.139%

Together, before fees−0.279%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.139%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.291% in total (about -15.2% 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	OKX COMP-USDT-SWAP	22.680	0.0100	pay 0.0100% / 8h	5h 58m	$1.6M	$2.0M	20x
Short	Kraken Futures PF_COMPUSD	22.711	−0.0551	pay 0.0069% / 1h	58m 50s	$228K	$88K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.138%Rate

Funding earned: −$136.8
Price spread: +0.138% → +0.139%: −$0.11
Slippage, 4 orders: −$98.45
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$255.36
Costs to cover: 1.185%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Kraken Futures: live order book, 4 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 OKX live order book, 3 min ago	2.20 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	9.68 bp	32.7 bp −$33	96.5 bp −$965	doesn't fit	doesn't fit

COMP on 15 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_COMPUSDshort	−0.0551%	1h	22.711	+0.138%	$228K	$88K	20x
Deribit COMP_USDC-PERPETUAL	−0.0191%	1h	22.680	0.000%	$331	$327	50x	as long as short
dYdX COMP-USD	0.0000%	1h	22.720	+0.176%	$69K	—	5x	as long as short
Hyperliquid COMP	+0.0100%	1h	22.709	+0.128%	$872K	$360K	5x	as long as short
Binance COMPUSDT	+0.0100%	8h	22.680	−0.002%	$4.3M	$6.7M	75x	as long as short
Bybit COMPUSDT	+0.0100%	8h	22.687	+0.031%	$3.9M	$1.9M	75x	as long as short
OKX COMP-USDT-SWAPlong	+0.0100%	8h	22.680	long leg	$1.6M	$2.0M	20x
Gate COMP_USDT	+0.0100%	8h	22.680	0.000%	$222K	$54K	25x	as long as short
MEXC COMP_USDT	+0.0100%	8h	22.700	+0.088%	$2.6M	$805K	20x	as long as short
KuCoin COMPUSDTM	+0.0100%	8h	22.720	+0.176%	$457K	$89K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget COMPUSDT	+0.0100%	8h	22.680	0.000%	$1.9M	$604K	75x	as long as short
BingX COMP-USDT	+0.0100%	8h	22.680	0.000%	—	$34.7M	—	as long as short
Variational Omni COMP	+0.0100%	8h	22.716	+0.159%	$15K	$29K	—	as long as short
Injective COMP/USDC PERP	+0.0488%	1h	22.620	−0.265%	$2K	$13K	12x	as long as short
Coinbase International COMP-PERP-INTX	+0.0584%	1h	22.930	+1.102%	$18K	$45K	25x	as long as short