Funding arb · Price arb /

THETA

all THETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1108%/8h= −121.3% APRpaid last 24h +0.066%

Price spread now: Kraken Futures against Gate+0.244%7-day average — · you sell dearer than you buy

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 7 days+0.042%+$4 on $10k

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. Kraken Futures is 0.244% dearer against Gate than usual: you sell high and buy low (spread +0.244% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$33 a day in funding at the current rate, which eats that in about 18 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.042% in total (about 2.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate THETA_USDT	0.2245	0.0100	pay 0.0100% / 8h	7h 25m	$378K	$118K	50x
Short	Kraken Futures PF_THETAUSD	0.2250	−0.1008	pay 0.0126% / 1h	25m 49s	$82K	$55K	20x

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 +0.244%Rate

Funding earned: −$232.62
Price spread: +0.244% → 0.000%: $24.43
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: −$233.19
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 44 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, 44 min ago	4.47 bp	55.1 bp −$55	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.

THETA on 13 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_THETAUSDshort	−0.1008%	1h	0.2250	+0.244%	$82K	$55K	20x
Variational Omni THETA	−0.0446%	8h	0.2243	−0.083%	$293K	$74K	—	as long as short
BingX THETA-USDT	+0.0029%	8h	0.2246	+0.045%	—	$2.4M	—	as long as short
Injective THETA/USDC PERP	+0.0033%	1h	0.2136	−4.855%	$208	$25K	5.5x	as long as short
OKX THETA-USDT-SWAP	+0.0045%	8h	0.2245	0.000%	$670K	$1.3M	20x	as long as short
Aster THETAUSDT	+0.0100%	8h	0.2246	+0.026%	$8K	$3K	5x	as long as short
Binance THETAUSDT	+0.0100%	8h	0.2249	+0.162%	$3.2M	$4.8M	75x	as long as short
Bybit THETAUSDT	+0.0100%	8h	0.2244	−0.045%	$3.0M	$2.1M	75x	as long as short
Gate THETA_USDTlong	+0.0100%	8h	0.2245	long leg	$378K	$118K	50x
MEXC THETA_USDT	+0.0100%	8h	0.2248	+0.134%	$1.5M	$578K	100x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin THETAUSDTM	+0.0100%	8h	0.2247	+0.089%	$1.2M	$228K	50x	as long as short
Bitget THETAUSDT	+0.0100%	8h	0.2249	+0.178%	$1.3M	$611K	50x	as long as short
BloFin THETA-USDT	+0.0220%	8h	0.2245	0.000%	$160K	$176K	75x	as long as short