Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.5410%/8h= −592.4% APRpaid last 24h +0.832%

Price spread now: Kraken Futures against Bitget+0.176%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Kraken Futures is 0.176% dearer against Bitget than usual: you sell high and buy low (spread +0.176% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$162 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget INITUSDT	0.08402	0.0100	pay 0.0050% / 4h	3h 57m	$432K	$333K	25x
Short	Kraken Futures PF_INITUSD	0.08417	−0.5310	pay 0.0664% / 1h	57m 54s	$5K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.176%Rate

Funding earned: −$1,136.16
Price spread: +0.176% → 0.000%: $17.62
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,140.53
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 53 min ago; Kraken Futures: no order-book sample. 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 Bitget live order book, 53 min ago	9.10 bp	55.7 bp −$56	277.2 bp −$2,772	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

INIT 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_INITUSDshort	−0.5310%	1h	0.08417	+0.176%	$5K	$24K	10x
BloFin INIT-USDT	+0.0062%	4h	0.08373	−0.345%	$152K	$114K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08425	+0.274%	$316K	$239K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08406	+0.053%	$28K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08406	+0.052%	$3.5M	$4.0M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08395	−0.083%	$1.5M	$1.6M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08391	−0.131%	$142K	$717K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08390	−0.143%	$83K	$57K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08423	+0.250%	$452K	$209K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08426	+0.286%	$331K	$59K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget INITUSDTlong	+0.0100%	4h	0.08402	long leg	$432K	$333K	25x
BingX INIT-USDT	+0.0100%	4h	0.08413	+0.131%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08390	−0.142%	$27K	$23K	—	as long as short