Funding arb · Price arb /

MELANIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1065%/8h= −116.6% APRpaid last 24h −0.008%

Price spread now: Bitget against Kraken Futures+0.066%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 Bitget

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. Bitget is 0.066% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.066% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MELANIAUSD	0.1062	0.1241	pay 0.0155% / 1h	7m 12s	$25K	$3K	10x
Short	Bitget MELANIAUSDT	0.1063	0.0176	get 0.0088% / 4h	1h 07m	$933K	$230K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$223.56
Price spread: +0.066% → 0.000%: $6.63
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$238.93
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 37 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 Bitget live order book, 37 min ago	7.46 bp	46.1 bp −$46	134.3 bp −$1,343	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.

MELANIA on 13 exchanges

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
BloFin MELANIA-USDT	+0.0046%	4h	0.1063	+0.057%	$186K	$2K	75x	as long as short
Hyperliquid MELANIA	+0.0100%	1h	0.1062	−0.009%	$1.6M	$225K	3x	as long as short
Binance MELANIAUSDT	+0.0100%	4h	0.1063	+0.057%	$2.9M	$3.1M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1063	+0.085%	$1.5M	$814K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1061	−0.131%	$394K	$133K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1063	+0.066%	$1.1M	$138K	100x	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1063	+0.083%	$110K	$861	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1058	−0.384%	$242K	—	3x	as long as short
Bitget MELANIAUSDTshort	+0.0176%	4h	0.1063	+0.066%	$933K	$230K	50x
BingX MELANIA-USDT	+0.0182%	4h	0.1063	+0.076%	—	$1.5M	—	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MELANIAUSDTM	+0.0302%	4h	0.1063	+0.066%	$416K	$2.5M	30x	as long as short
Aster MELANIAUSDT	+0.1106%	4h	0.1063	+0.102%	$21K	$12K	5x	as long as short
Kraken Futures PF_MELANIAUSDlong	+0.1241%	1h	0.1062	long leg	$25K	$3K	10x