Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0397%/8h= +43.4% APRpaid last 24h +0.747%

Price spread now: Kraken Futures against Gate+0.028%51s7-day average — · you sell dearer than you buy

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

Long on Gate 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

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.028% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate INIT_USDT	0.08197	0.0100	pay 0.0100% / 8h	51m 30s	$83K	$56K	25x
Short	Kraken Futures PF_INITUSD	0.08199	0.0497	get 0.0062% / 1h	51m 30s	$5K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.028%Rate

Funding earned: $83.3
Price spread: +0.028% → 0.000%: $2.78
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $61.08
Costs to cover: 0.250%
Break-even: 1.9 days

Slippage unknown: Gate: no order-book sample; 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 Gate no order-book sample	—	—	—	—	—
Sell Kraken Futures no order-book sample	—	—	—	—	—

Gate and 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
BloFin INIT-USDT	+0.0084%	4h	0.08213	+0.195%	$152K	$110K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08212	+0.181%	$299K	$233K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08212	+0.181%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08217	+0.250%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08200	+0.037%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08214	+0.207%	$133K	$635K	10x	as long as short
Gate INIT_USDTlong	+0.0100%	8h	0.08197	long leg	$83K	$56K	25x
MEXC INIT_USDT	+0.0100%	4h	0.08205	+0.098%	$446K	$218K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08209	+0.146%	$327K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08206	+0.110%	$428K	$310K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08204	+0.085%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08189	−0.100%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSDshort	+0.0497%	1h	0.08199	+0.028%	$5K	$17K	10x