Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−2.3316%/8h= −2553.1% APRpaid last 24h −3.619%

Price spread now: Bitget against Kraken Futures+0.541%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Bitget

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. Bitget is 0.541% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.541% now, against zero (this spread has no 7-day history yet)): +$54 on $10k if it goes back. Holding the pair costs −$699 a day in funding at the current rate, which eats that in about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IOUSD	0.1517	2.3416	pay 0.2927% / 1h	12m 49s	$39K	$18K	10x
Short	Bitget IOUSDT	0.1525	0.0100	get 0.0050% / 4h	1h 12m	$1.4M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.541%Rate

Funding earned: −$4,896.32
Price spread: +0.541% → 0.000%: $54.12
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$4,864.2
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago	3.27 bp	9.3 bp −$9	122.7 bp −$1,227	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.

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
Injective IO/USDC PERP	−0.0430%	1h	0.1530	+0.871%	$2K	$202	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1523	+0.429%	$1.0M	$378K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1523	+0.439%	$24K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1523	+0.409%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1521	+0.277%	$1.1M	$915K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1522	+0.343%	$235K	$565K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1521	+0.277%	$1.2M	$228K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1524	+0.475%	$357K	$657K	50x	as long as short
Bitget IOUSDTshort	+0.0100%	4h	0.1525	+0.541%	$1.4M	$1.3M	50x
BingX IO-USDT	+0.0100%	4h	0.1522	+0.343%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1526	+0.588%	$33K	$13K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1523	+0.385%	$2K	$130K	5x	as long as short
BloFin IO-USDT	+0.0137%	4h	0.1523	+0.409%	$193K	$39K	50x	as long as short
Kraken Futures PF_IOUSDlong	+2.3416%	1h	0.1517	long leg	$39K	$18K	10x