Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1055%/8h= +115.5% APRpaid last 24h +0.181%

Price spread now: OKX against Kraken Futures+0.090%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 OKX

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 for this trade now. Funding pays +$32 a day on $10k at the current rate, and OKX is 0.090% dearer against Kraken Futures than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LAYERUSD	0.07636	−0.0955	get 0.0119% / 1h	34m 40s	$8K	$54	10x
Short	OKX LAYER-USDT-SWAP	0.07643	0.0100	get 0.0050% / 4h	3h 34m	$710K	$561K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.090%Rate

Funding earned: $221.55
Price spread: +0.090% → 0.000%: $9.04
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $210.59
Costs to cover: 0.200%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, 61 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 OKX live order book, 61 min ago	5.23 bp	36.9 bp −$37	doesn't fit	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.

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	−0.0955%	1h	0.07636	long leg	$8K	$54	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.742%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07660	+0.309%	$589K	$154K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07656	+0.261%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07650	+0.180%	$2.1M	$2.1M	50x	as long as short
OKX LAYER-USDT-SWAPshort	+0.0100%	4h	0.07643	+0.090%	$710K	$561K	20x
Gate LAYER_USDT	+0.0100%	4h	0.07657	+0.274%	$141K	$37K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07651	+0.195%	$401K	$129K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07658	+0.287%	$1.1M	$95K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07656	+0.261%	—	$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	0.07650	+0.182%	$16K	$192K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07651	+0.195%	$3K	$215K	5x	as long as short
BloFin LAYER-USDT	+0.0117%	4h	0.07645	+0.117%	$112K	$10K	50x	as long as short