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: Aster against Kraken Futures−0.123%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.123% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.123% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 2 hours of funding at the current rate (+$162 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_INITUSD	0.08417	−0.5310	get 0.0664% / 1h	57m 50s	$5K	$24K	10x
Short	Aster INITUSDT	0.08406	0.0100	get 0.0050% / 4h	3h 57m	$28K	$39K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.123%Rate

Funding earned: $1,136.16
Price spread: −0.123% → 0.000%: −$12.28
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $1,105.88
Costs to cover: 0.180%
Break-even: 0.2 days

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

Kraken Futures and Aster: 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_INITUSDlong	−0.5310%	1h	0.08417	long leg	$5K	$24K	10x
BloFin INIT-USDT	+0.0062%	4h	0.08373	−0.520%	$152K	$114K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08425	+0.097%	$316K	$239K	3x	as long as short
Aster INITUSDTshort	+0.0100%	4h	0.08406	−0.123%	$28K	$39K	5x
Binance INITUSDT	+0.0100%	4h	0.08406	−0.124%	$3.5M	$4.0M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08395	−0.259%	$1.5M	$1.6M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08391	−0.307%	$142K	$717K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08390	−0.319%	$83K	$57K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08423	+0.074%	$452K	$209K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08426	+0.109%	$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 INITUSDT	+0.0100%	4h	0.08402	−0.176%	$432K	$333K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08413	−0.045%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08390	−0.318%	$27K	$23K	—	as long as short