Funding arb · Price arb /

GALA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0792%/8h= +86.7% APRpaid last 24h −0.122%

Price spread now: MEXC against Kraken Futures−0.054%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$670.673% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)−0.248%−$25 · spread now −0.054%, 7d avg −0.078%

Together, before fees−0.178%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and MEXC is 0.024% dearer against Kraken Futures than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.078%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.069% in total (about 3.6% 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_GALAUSD	0.002080	−0.0692	get 0.0086% / 1h	2m 37s	$658K	$176K	25x
Short	MEXC GALA_USDT	0.002079	0.0100	get 0.0100% / 8h	5h 02m	$6.2M	$3.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.054%Rate

Funding earned: $166.25
Price spread: −0.054% → −0.078%: $2.45
Slippage, 4 orders: −$57.29
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $101.41
Costs to cover: 0.673%
Break-even: 2.7 days

Slippage from Kraken Futures: live order book, 60 min ago; MEXC: live order book, 5 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, 60 min ago	7.16 bp	33.1 bp −$33	123.3 bp −$1,233	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	2.40 bp	4.2 bp −$4	14.8 bp −$148	94.7 bp −$9,474	174.2 bp −$87.1K

GALA 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_GALAUSDlong	−0.0692%	1h	0.002080	long leg	$658K	$176K	25x
KuCoin GALAUSDTM	−0.0089%	8h	0.002076	−0.198%	$1.7M	$5.5M	75x	as long as short
Injective GALA/USDC PERP	+0.0033%	1h	0.002110	+1.436%	$2K	$7K	5.5x	as long as short
Hyperliquid GALA	+0.0100%	1h	0.002079	−0.054%	$306K	$160K	3x	as long as short
Aster GALAUSDT	+0.0100%	8h	0.002079	−0.046%	$17K	$11K	5x	as long as short
Binance GALAUSDT	+0.0100%	8h	0.002079	−0.046%	$5.5M	$17.4M	75x	as long as short
Bybit GALAUSDT	+0.0100%	8h	0.002078	−0.102%	$6.0M	$6.4M	75x	as long as short
OKX GALA-USDT-SWAP	+0.0100%	8h	0.002077	−0.150%	$2.2M	$4.2M	50x	as long as short
Gate GALA_USDT	+0.0100%	8h	0.002079	−0.054%	$1.8M	$1.3M	75x	as long as short
MEXC GALA_USDTshort	+0.0100%	8h	0.002079	−0.054%	$6.2M	$3.4M	125x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GALAUSDT	+0.0100%	8h	0.002079	−0.054%	$2.2M	$1.2M	75x	as long as short
BingX GALA-USDT	+0.0100%	8h	0.002077	−0.150%	—	$11.2M	—	as long as short
Variational Omni GALA	+0.0100%	8h	0.002079	−0.049%	$25K	$21K	—	as long as short
Extended GALA-USD	+0.0104%	1h	0.002078	−0.079%	$2K	$144K	5x	as long as short
BloFin GALA-USDT	+0.0106%	8h	0.002075	−0.246%	$310K	$69K	20x	as long as short