Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.2127%/8h= −232.9% APRpaid last 24h −0.482%

Price spread now: Kraken Futures against KuCoin−0.060%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 −$64 a day on $10k at the current rate, and Kraken Futures is 0.060% cheaper against KuCoin than usual: you would sell low and buy high (−$6 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	KuCoin SUSDTM	0.03988	0.0100	pay 0.0050% / 4h	3h 24m	$1.8M	$2.9M	50x
Short	Kraken Futures PF_SUSD	0.03986	−0.2027	pay 0.0253% / 1h	24m 10s	$34K	$23K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$446.64
Price spread: −0.060% → 0.000%: −$5.97
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$474.6
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	6.27 bp	101.9 bp −$102	302.4 bp −$3,024	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
01 Exchange SUSD	−0.2568%	1h	0.03980	−0.201%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.2027%	1h	0.03986	−0.060%	$34K	$23K	10x
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−0.727%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0801%	4h	0.03982	−0.154%	$619K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03989	+0.020%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03986	−0.053%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03990	+0.042%	$615	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03988	0.000%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.808%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03991	+0.075%	$163K	$192K	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	0.03988	+0.010%	$998K	$618K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03990	+0.041%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03985	−0.063%	$5.5M	$15.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03984	−0.100%	$5.7M	$4.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03986	−0.050%	$983K	$4.6M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03981	−0.176%	$325K	$218K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03986	−0.050%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.03988	long leg	$1.8M	$2.9M	50x
Bitget SUSDT	+0.0100%	4h	0.03988	0.000%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03986	−0.050%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03990	+0.050%	$116K	$321K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+0.050%	$26K	$447K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03986	−0.060%	$225K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03986	−0.050%	$269K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0502%	1h	0.03993	+0.125%	$67K	$10K	10x	as long as short