Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.2742%/8h= −300.3% APRpaid last 24h −0.582%

Price spread now: Kraken Futures against Gate−0.555%7-day average — · you buy dearer than you sell

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

Long on Gate 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

Both sides work against this trade now: funding costs −$82 a day on $10k at the current rate, and Kraken Futures is 0.555% cheaper against Gate than usual: you would sell low and buy high (−$55 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	Gate S_USDT	0.04319	0.0100	pay 0.0050% / 4h	3h 34m	$361K	$219K	50x
Short	Kraken Futures PF_SUSD	0.04295	−0.2642	pay 0.0330% / 1h	34m 45s	$35K	$23K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.555%Rate

Funding earned: −$575.83
Price spread: −0.555% → 0.000%: −$55.47
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$656.3
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 60 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 Gate live order book, 60 min ago	8.50 bp	72.6 bp −$73	doesn't fit	doesn't fit	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.

S on 25 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_SUSDshort	−0.2642%	1h	0.04295	−0.555%	$35K	$23K	10x
Coinbase International S-PERP-INTX	−0.1248%	1h	0.04308	−0.255%	$53K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04325	+0.144%	$2K	—	100x	as long as short
01 Exchange SUSD	−0.0104%	1h	0.04180	−3.218%	$25K	$3K	5x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04316	−0.074%	$4	—	15x	as long as short
Variational Omni S	−0.0056%	4h	0.04316	−0.063%	$670K	$7K	—	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.04324	+0.116%	$73K	$11K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04329	+0.242%	$667	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−5.071%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0072%	4h	0.04318	−0.023%	$107K	$630K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.04324	+0.116%	$185K	$100K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.04322	+0.079%	$1.1M	$714K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04319	+0.010%	$47K	$175K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04324	+0.116%	$6.3M	$16.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04318	−0.023%	$6.2M	$4.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04322	+0.069%	$1.2M	$4.9M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.04319	long leg	$361K	$219K	50x
MEXC S_USDT	+0.0100%	4h	0.04325	+0.139%	$4.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04318	−0.023%	$2.0M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04323	+0.093%	$1.3M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04318	−0.023%	—	$6.9M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04340	+0.486%	$25K	$512K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04316	−0.061%	$240K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04330	+0.255%	$306K	$123K	75x	as long as short
Backpack S_USDC_PERP	+0.0348%	1h	0.04330	+0.255%	$102K	$473K	5x	as long as short