Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1840%/8h= −201.5% APRpaid last 24h −0.921%

Price spread now: OKX against Kraken Futures+0.035%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

The price spread pays, funding is against you. OKX is 0.035% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$55 a day in funding at the current rate, which eats that in about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NOTUSD	0.0005040	0.1940	pay 0.0243% / 1h	18m 05s	$49K	$7K	10x
Short	OKX NOT-USDT-SWAP	0.0005042	0.0100	get 0.0050% / 4h	1h 18m	$642K	$685K	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 +0.035%Rate

Funding earned: −$386.43
Price spread: +0.035% → 0.000%: $3.51
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$402.92
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, 23 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, 23 min ago	2.98 bp	37.6 bp −$38	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.

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	−0.0032%	4h	0.0005033	−0.141%	$72K	$38K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.298%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005052	+0.239%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005040	−0.005%	$339K	$64K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005042	+0.037%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005041	+0.017%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005035	−0.104%	$2.1M	$842K	25x	as long as short
OKX NOT-USDT-SWAPshort	+0.0100%	4h	0.0005042	+0.035%	$642K	$685K	20x
Gate NOT_USDT	+0.0100%	4h	0.0005040	−0.005%	$139K	$57K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005042	+0.035%	$1.3M	$442K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005040	−0.005%	$481K	$133K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005045	+0.095%	$674K	$460K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005043	+0.055%	—	$8.5M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005041	+0.011%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0145%	4h	0.0005045	+0.095%	$109K	$18K	50x	as long as short
Kraken Futures PF_NOTUSDlong	+0.1940%	1h	0.0005040	long leg	$49K	$7K	10x