Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0375%/8h= +41.1% APRpaid last 24h +0.200%

Price spread now: MEXC against Kraken Futures−0.030%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on MEXC

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

Funding pays, the price is against you. MEXC is 0.030% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.030% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LAYERUSD	0.07670	−0.0275	get 0.0034% / 1h	3m 00s	$8K	$54	10x
Short	MEXC LAYER_USDT	0.07668	0.0100	get 0.0050% / 4h	1h 03m	$372K	$132K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.030%Rate

Funding earned: $78.83
Price spread: −0.030% → 0.000%: −$2.99
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $65.84
Costs to cover: 0.100%
Break-even: 1.2 days

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 22 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 MEXC live order book, 22 min ago	2.61 bp	15.4 bp −$15	47.5 bp −$475	135.1 bp −$13.5K	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.

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_LAYERUSDlong	−0.0275%	1h	0.07670	long leg	$8K	$54	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.167%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07678	+0.104%	$591K	$166K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07671	+0.007%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07668	−0.030%	$2.1M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07665	−0.069%	$715K	$628K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07681	+0.140%	$142K	$40K	20x	as long as short
MEXC LAYER_USDTshort	+0.0100%	4h	0.07668	−0.030%	$372K	$132K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07669	−0.017%	$1.1M	$109K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07672	+0.022%	—	$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	0.07670	−0.004%	$16K	$192K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07667	−0.045%	$2K	$217K	5x	as long as short
BloFin LAYER-USDT	+0.0153%	4h	0.07670	−0.004%	$113K	$15K	50x	as long as short