Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0092%/8h= −10.0% APRpaid last 24h −0.819%

Price spread now: KuCoin against Kraken Futures−0.326%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 KuCoin

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 against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.326% cheaper against Kraken Futures than usual: you would sell low and buy high (−$33 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_INITUSD	0.08285	0.0192	pay 0.0024% / 1h	25m 22s	$5K	$17K	10x
Short	KuCoin INITUSDTM	0.08258	0.0100	get 0.0050% / 4h	3h 25m	$329K	$54K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.326%Rate

Funding earned: −$19.27
Price spread: −0.326% → 0.000%: −$32.59
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$73.86
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 26 min ago. 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 KuCoin live order book, 26 min ago	28.42 bp	259.5 bp −$259	doesn't fit	doesn't fit	doesn't fit

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
Hyperliquid INIT	+0.0100%	1h	0.08284	−0.011%	$302K	$234K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08259	−0.314%	$27K	$37K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08283	−0.026%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08268	−0.205%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08281	−0.048%	$137K	$639K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08262	−0.278%	$84K	$55K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08281	−0.048%	$450K	$219K	20x	as long as short
KuCoin INITUSDTMshort	+0.0100%	4h	0.08258	−0.326%	$329K	$54K	25x
Bitget INITUSDT	+0.0100%	4h	0.08260	−0.302%	$431K	$303K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08269	−0.193%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08261	−0.288%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0139%	4h	0.08254	−0.374%	$154K	$112K	25x	as long as short
Kraken Futures PF_INITUSDlong	+0.0192%	1h	0.08285	long leg	$5K	$17K	10x