Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1973%/8h= −216.1% APRpaid last 24h −0.876%

Price spread now: KuCoin against Kraken Futures−0.162%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 KuCoin

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 −$59 a day on $10k at the current rate, and KuCoin is 0.162% cheaper against Kraken Futures than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NOTUSD	0.0005035	0.1715	pay 0.0214% / 1h	37m 05s	$49K	$9K	10x
Short	KuCoin NOTUSDTM	0.0005027	−0.0258	pay 0.0129% / 4h	37m 05s	$466K	$128K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$414.35
Price spread: −0.162% → 0.000%: −$16.22
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$452.57
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 46 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 KuCoin live order book, 46 min ago	14.77 bp	100.9 bp −$101	327.7 bp −$3,277	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.

NOT on 16 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
Variational Omni NOT	−0.0387%	4h	0.0005028	−0.151%	$71K	$39K	—	as long as short
KuCoin NOTUSDTMshort	−0.0258%	4h	0.0005027	−0.162%	$466K	$128K	50x
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.201%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0065%	4h	0.0005029	−0.122%	$110K	$16K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005047	+0.229%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005040	+0.096%	$357K	$57K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005037	+0.026%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005035	−0.003%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005031	−0.083%	$2.1M	$850K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005037	+0.036%	$630K	$652K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOT_USDT	+0.0100%	4h	0.0005040	+0.096%	$140K	$70K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005036	+0.017%	$1.3M	$426K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005039	+0.076%	$668K	$412K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005035	−0.003%	—	$8.8M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005037	+0.035%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSDlong	+0.1715%	1h	0.0005035	long leg	$49K	$9K	10x