Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1338%/8h= +146.5% APRpaid last 24h +0.465%

Price spread now: OKX against Kraken Futures+0.121%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

Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and OKX is 0.121% dearer against Kraken Futures than usual: you sell high and buy low: +$12 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	0.04092	−0.1238	get 0.0155% / 1h	15m 26s	$34K	$16K	10x
Short	OKX S-USDT-SWAP	0.04097	0.0100	get 0.0050% / 4h	2h 15m	$1.0M	$4.2M	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 +0.121%Rate

Funding earned: $281.01
Price spread: +0.121% → 0.000%: $12.13
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $273.14
Costs to cover: 0.200%
Break-even: 0.2 days

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, 2 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, 2 min ago	1.22 bp	25.1 bp −$25	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.

S on 24 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
01 Exchange SUSD	−0.8632%	1h	0.03940	−3.715%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−1.712%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSDlong	−0.1238%	1h	0.04092	long leg	$34K	$16K	10x
Variational Omni S	−0.0401%	4h	0.04081	−0.276%	$634K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04097	+0.129%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04094	+0.055%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04098	+0.135%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.195%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0051%	4h	0.04097	+0.121%	$103K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04094	+0.048%	$169K	$167K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04096	+0.097%	$1.0M	$571K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04093	+0.021%	$45K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04097	+0.120%	$5.7M	$14.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04091	−0.025%	$5.8M	$4.7M	50x	as long as short
OKX S-USDT-SWAPshort	+0.0100%	4h	0.04097	+0.121%	$1.0M	$4.2M	20x
Gate S_USDT	+0.0100%	4h	0.04092	−0.001%	$337K	$205K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04098	+0.146%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04095	+0.072%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04097	+0.121%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04096	+0.097%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04080	−0.294%	$26K	$444K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04096	+0.109%	$232K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0970%	1h	0.04103	+0.268%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0995%	1h	0.04090	−0.050%	$119K	$349K	5x	as long as short