Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0882%/8h= −96.6% APRpaid last 24h −0.197%

Price spread now: Kraken Futures against Bitget+0.026%7-day average — · you sell dearer than you buy

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

Long on Bitget 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

The price spread pays, funding is against you. Kraken Futures is 0.026% dearer against Bitget than usual: you sell high and buy low (spread +0.026% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$26 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	Bitget LAYERUSDT	0.07718	0.0100	pay 0.0050% / 4h	3h 11m	$1.1M	$167K	50x
Short	Kraken Futures PF_LAYERUSD	0.07720	−0.0782	pay 0.0098% / 1h	11m 33s	$8K	$964	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$185.18
Price spread: +0.026% → 0.000%: $2.61
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$204.57
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	9.07 bp	27.9 bp −$28	221.0 bp −$2,210	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.

LAYER 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_LAYERUSDshort	−0.0782%	1h	0.07720	+0.026%	$8K	$964	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.753%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07734	+0.210%	$601K	$169K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07713	−0.065%	$10K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07718	−0.005%	$2.1M	$2.5M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07708	−0.130%	$716K	$699K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07702	−0.207%	$137K	$53K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07719	+0.013%	$346K	$118K	20x	as long as short
Bitget LAYERUSDTlong	+0.0100%	4h	0.07718	long leg	$1.1M	$167K	50x
BingX LAYER-USDT	+0.0100%	4h	0.07721	+0.039%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07720	+0.026%	$26K	$183K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07716	−0.032%	$471	$174K	5x	as long as short
BloFin LAYER-USDT	+0.0106%	4h	0.07707	−0.143%	$114K	$14K	50x	as long as short