Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.5834%/8h= +638.8% APRpaid last 24h +3.938%

Price spread now: Kraken Futures against BloFin+0.094%57s7-day average — · you sell dearer than you buy

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

Long on BloFin 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 +$175 a day on $10k at the current rate, and Kraken Futures is 0.094% dearer against BloFin than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	BloFin IO-USDT	0.1489	0.0119	pay 0.0059% / 4h	35m 26s	$192K	$33K	50x
Short	Kraken Futures PF_IOUSD	0.1490	0.5953	get 0.0744% / 1h	35m 26s	$38K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.094%Rate

Funding earned: $1,225.1
Price spread: +0.094% → 0.000%: $9.36
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $1,212.46
Costs to cover: 0.220%
Break-even: 0.1 days

Slippage unknown: BloFin: live order book, 35 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 BloFin live order book, 35 min ago	3.35 bp	20.0 bp −$20	58.5 bp −$585	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.

IO on 14 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 IO	+0.0100%	1h	0.1488	−0.060%	$1.0M	$274K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1488	−0.091%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1488	−0.067%	$3.0M	$5.0M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1485	−0.235%	$1.1M	$647K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1488	−0.081%	$230K	$473K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1486	−0.201%	$1.2M	$216K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1486	−0.201%	$339K	$196K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1489	0.000%	$1.4M	$985K	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1487	−0.134%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1484	−0.322%	$30K	$18K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1487	−0.152%	$3K	$212K	5x	as long as short
BloFin IO-USDTlong	+0.0119%	4h	0.1489	long leg	$192K	$33K	50x
Injective IO/USDC PERP	+0.0563%	1h	0.1492	+0.201%	$2K	$199	5.5x	as long as short
Kraken Futures PF_IOUSDshort	+0.5953%	1h	0.1490	+0.094%	$38K	$7K	10x