Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−2.3443%/8h= −2567.0% APRpaid last 24h −3.619%

Price spread now: KuCoin against Kraken Futures+0.227%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 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

The price spread pays, funding is against you. KuCoin is 0.227% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.227% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$703 a day in funding at the current rate, which eats that in about under an hour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_IOUSD	0.1509	2.3543	pay 0.2943% / 1h	2m 30s	$39K	$18K	10x
Short	KuCoin IOUSDTM	0.1512	0.0100	get 0.0050% / 4h	1h 02m	$353K	$654K	50x

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 +0.227%Rate

Funding earned: −$4,923.08
Price spread: +0.227% → 0.000%: $22.67
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$4,922.42
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 21 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, 21 min ago	3.29 bp	71.8 bp −$72	380.7 bp −$3,807	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	+1.420%	$2K	$202	5.5x	as long as short
BloFin IO-USDT	+0.0086%	4h	0.1511	+0.160%	$193K	$39K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1511	+0.180%	$1.0M	$376K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1511	+0.186%	$23K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1511	+0.178%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1509	+0.028%	$1.1M	$915K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1510	+0.087%	$230K	$567K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1509	+0.028%	$1.2M	$229K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1512	+0.227%	$353K	$654K	50x
Bitget IOUSDT	+0.0100%	4h	0.1512	+0.227%	$1.3M	$1.3M	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IO-USDT	+0.0100%	4h	0.1510	+0.094%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1510	+0.075%	$33K	$13K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1511	+0.154%	$2K	$130K	5x	as long as short
Kraken Futures PF_IOUSDlong	+2.3543%	1h	0.1509	long leg	$39K	$18K	10x