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: Kraken Futures against MEXC+0.030%7-day average — · you sell dearer than you buy

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

Long on MEXC 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 0.030% dearer against MEXC than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$11 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	MEXC LAYER_USDT	0.07668	0.0100	pay 0.0050% / 4h	1h 02m	$372K	$132K	20x
Short	Kraken Futures PF_LAYERUSD	0.07670	−0.0275	pay 0.0034% / 1h	2m 59s	$8K	$54	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice 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 MEXC: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$85.84
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 22 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 MEXC live order book, 22 min ago	2.61 bp	13.2 bp −$13	50.9 bp −$509	142.2 bp −$14.2K	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	0.07670	+0.030%	$8K	$54	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.138%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07678	+0.134%	$591K	$166K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07671	+0.037%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07668	0.000%	$2.1M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07665	−0.039%	$715K	$628K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07681	+0.170%	$142K	$40K	20x	as long as short
MEXC LAYER_USDTlong	+0.0100%	4h	0.07668	long leg	$372K	$132K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07669	+0.013%	$1.1M	$109K	50x	as long as short
BingX LAYER-USDT	+0.0100%	4h	0.07672	+0.052%	—	$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	+0.026%	$16K	$192K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07667	−0.015%	$2K	$217K	5x	as long as short
BloFin LAYER-USDT	+0.0153%	4h	0.07670	+0.026%	$113K	$15K	50x	as long as short