Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0353%/8h= −38.7% APRpaid last 24h −0.205%

Price spread now: Kraken Futures against BloFin−0.062%7-day average — · you buy dearer than you sell

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 against this trade now: funding costs −$11 a day on $10k at the current rate, and Kraken Futures is 0.062% cheaper against BloFin than usual: you would sell low and buy high (−$6 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	BloFin LAYER-USDT	0.07677	0.0078	pay 0.0039% / 4h	1h 56m	$113K	$15K	50x
Short	Kraken Futures PF_LAYERUSD	0.07672	−0.0275	pay 0.0034% / 1h	56m 27s	$8K	$54	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 −0.062%Rate

Funding earned: −$74.19
Price spread: −0.062% → 0.000%: −$6.17
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$102.36
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 15 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, 15 min ago	1.30 bp	20.0 bp −$20	76.9 bp −$769	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	−0.0275%	1h	0.07672	−0.062%	$8K	$54	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.249%	—	$18K	5.5x	as long as short
BloFin LAYER-USDTlong	+0.0078%	4h	0.07677	long leg	$113K	$15K	50x
Hyperliquid LAYER	+0.0100%	1h	0.07676	−0.009%	$591K	$168K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07667	−0.136%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07674	−0.039%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07674	−0.039%	$718K	$670K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07676	−0.013%	$142K	$40K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07671	−0.078%	$372K	$129K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07674	−0.039%	$1.1M	$112K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07675	−0.026%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07670	−0.091%	$16K	$195K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07670	−0.094%	$4K	$215K	5x	as long as short