Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.2732%/8h= +299.2% APRpaid last 24h +0.570%

Price spread now: KuCoin against Kraken Futures+0.599%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 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 for this trade now. Funding pays +$82 a day on $10k at the current rate, and KuCoin is 0.599% dearer against Kraken Futures than usual: you sell high and buy low: +$60 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SUSD	0.04311	−0.2632	get 0.0329% / 1h	37m 14s	$35K	$23K	10x
Short	KuCoin SUSDTM	0.04337	0.0100	get 0.0050% / 4h	3h 37m	$2.0M	$2.8M	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 +0.599%Rate

Funding earned: $573.75
Price spread: +0.599% → 0.000%: $59.92
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $611.68
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 10 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, 10 min ago	8.21 bp	109.0 bp −$109	222.8 bp −$2,228	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.

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_SUSDlong	−0.2632%	1h	0.04311	long leg	$35K	$23K	10x
Coinbase International S-PERP-INTX	−0.1248%	1h	0.04308	−0.073%	$53K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04342	+0.711%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04338	+0.612%	$4	—	15x	as long as short
Variational Omni S	−0.0067%	4h	0.04324	+0.304%	$669K	$7K	—	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.04343	+0.738%	$73K	$11K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04344	+0.760%	$669	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−4.898%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0074%	4h	0.04339	+0.646%	$108K	$630K	10x	as long as short
Lighter S	+0.0096%	1h	0.04340	+0.669%	$186K	$100K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04343	+0.731%	$1.1M	$712K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04339	+0.638%	$47K	$175K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04336	+0.567%	$6.3M	$16.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04334	+0.530%	$6.2M	$4.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04336	+0.576%	$1.2M	$5.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04337	+0.599%	$363K	$219K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04341	+0.692%	$4.6M	$2.3M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.04337	+0.599%	$2.0M	$2.8M	50x
Bitget SUSDT	+0.0100%	4h	0.04340	+0.669%	$1.3M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04340	+0.669%	—	$6.9M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04330	+0.437%	$25K	$510K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04335	+0.555%	$240K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04325	+0.321%	$306K	$123K	75x	as long as short
Backpack S_USDC_PERP	+0.0354%	1h	0.04330	+0.437%	$102K	$472K	5x	as long as short
01 Exchange SUSD	+0.0920%	1h	0.04170	−3.274%	$25K	$3K	5x	as long as short