Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0568%/8h= −62.2% APRpaid last 24h −0.191%

Price spread now: Kraken Futures against Gate+0.045%7-day average — · you sell dearer than you buy

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

Long on Gate 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 0.045% dearer against Gate than usual: you sell high and buy low (spread +0.045% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LAYER_USDT	0.07574	0.0100	pay 0.0050% / 4h	2h 28m	$135K	$54K	20x
Short	Kraken Futures PF_LAYERUSD	0.07577	−0.0468	pay 0.0059% / 1h	28m 15s	$8K	$964	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$119.3
Price spread: +0.045% → 0.000%: $4.5
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$139.8
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 54 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 Gate live order book, 54 min ago	8.56 bp	107.2 bp −$107	doesn't fit	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	−0.0468%	1h	0.07577	+0.045%	$8K	$964	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−3.961%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07583	+0.121%	$583K	$161K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07577	+0.043%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07574	+0.006%	$2.0M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07568	−0.079%	$697K	$639K	20x	as long as short
Gate LAYER_USDTlong	+0.0100%	4h	0.07574	long leg	$135K	$54K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07574	0.000%	$349K	$115K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07571	−0.040%	$1.1M	$161K	50x	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07580	+0.079%	$25K	$185K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended LAYER-USD	+0.0104%	1h	0.07573	−0.010%	$2K	$174K	5x	as long as short
BingX LAYER-USDT	+0.0124%	4h	0.07579	+0.066%	—	$1.6M	—	as long as short
BloFin LAYER-USDT	+0.0155%	4h	0.07572	−0.026%	$113K	$12K	50x	as long as short