Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1751%/8h= −191.7% APRpaid last 24h +0.294%

Price spread now: BloFin against Kraken Futures−0.049%57s7-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 BloFin

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 against this trade now: funding costs −$53 a day on $10k at the current rate, and BloFin is 0.049% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MELANIAUSD	0.1095	0.1872	pay 0.0234% / 1h	2m 04s	$25K	$3K	10x
Short	BloFin MELANIA-USDT	0.1095	0.0121	get 0.0061% / 4h	1h 02m	$199K	$6K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$367.71
Price spread: −0.049% → 0.000%: −$4.93
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$394.65
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 36 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 BloFin live order book, 36 min ago	5.03 bp	22.4 bp −$22	68.1 bp −$681	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 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
Hyperliquid MELANIA	+0.0100%	1h	0.1093	−0.186%	$1.7M	$206K	3x	as long as short
Binance MELANIAUSDT	+0.0100%	4h	0.1095	−0.068%	$3.0M	$3.2M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1094	−0.095%	$1.5M	$743K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1095	−0.040%	$420K	$67K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1094	−0.113%	$1.2M	$138K	100x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1093	−0.205%	$954K	$223K	50x	as long as short
BingX MELANIA-USDT	+0.0100%	4h	0.1094	−0.122%	—	$1.5M	—	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1095	−0.064%	$113K	$672	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1091	−0.392%	$250K	—	3x	as long as short
BloFin MELANIA-USDTshort	+0.0121%	4h	0.1095	−0.049%	$199K	$6K	75x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MELANIAUSDTM	+0.0280%	4h	0.1095	−0.040%	$442K	$1.5M	30x	as long as short
Aster MELANIAUSDT	+0.0714%	4h	0.1095	−0.058%	$21K	$15K	5x	as long as short
Kraken Futures PF_MELANIAUSDlong	+0.1872%	1h	0.1095	long leg	$25K	$3K	10x