Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0265%/8h= −29.0% APRpaid last 24h −0.139%

Price spread now: Kraken Futures against BloFin+0.073%57s7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$770.770% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 4 days (all we have)+0.123%+$12 · spread now +0.073%, 7d avg +0.029%

Together, before fees+0.168%+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.044% dearer against BloFin than usual: you sell high and buy low (spread +0.073% now, against its 7-day average of +0.029%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 13 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.045% in total (about 2.3% 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	BloFin TIA-USDT	0.4388	0.0340	pay 0.0170% / 4h	1h 01m	$1.5M	$719K	75x
Short	Kraken Futures PF_TIAUSD	0.4391	0.0075	get 0.0009% / 1h	1m 54s	$359K	$199K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$55.64
Price spread: +0.073% → +0.029%: $4.38
Slippage, 4 orders: −$54.96
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$128.22
Costs to cover: 0.770%
Break-even: never at this rate

Slippage from BloFin: live order book, 1 min ago; Kraken Futures: live order book, 61 min ago.

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 BloFin live order book, 1 min ago	1.14 bp	14.1 bp −$14	21.2 bp −$212	72.5 bp −$7,255	doesn't fit
Sell Kraken Futures live order book, 61 min ago	15.88 bp	28.8 bp −$29	76.6 bp −$766	doesn't fit	doesn't fit

TIA on 27 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
Bybit TIAUSDT	−0.0135%	4h	0.4388	0.000%	$9.7M	$13.5M	50x	as long as short
Variational Omni TIA	−0.0057%	4h	0.4393	+0.106%	$103K	$85K	—	as long as short
KuCoin TIAUSDTM	−0.0032%	4h	0.4389	+0.023%	$4.2M	$9.0M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4391	+0.068%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4393	+0.112%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0064%	1h	0.4396	+0.182%	$49K	$231K	50x	as long as short
Kraken Futures PF_TIAUSDshort	+0.0075%	1h	0.4391	+0.073%	$359K	$199K	50x
Lighter TIA	+0.0096%	1h	0.4397	+0.212%	$155K	$417K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4398	+0.221%	$4.7M	$1.6M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4395	+0.167%	$32K	$245K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TIAUSDT	+0.0100%	4h	0.4391	+0.068%	$14.4M	$42.9M	75x	as long as short
OKX TIA-USDT-SWAP	+0.0100%	4h	0.4387	−0.023%	$2.8M	$6.2M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4394	+0.137%	$1.0M	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4391	+0.068%	$11.9M	$6.6M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4390	+0.046%	$4.5M	$3.4M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4390	+0.046%	—	$99.1M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4391	+0.073%	$101K	$153K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0100%	4h	0.4389	+0.023%	$5K	$287K	10x	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4395	+0.160%	$59K	$73K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4387	−0.031%	$55K	$213K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4389	+0.023%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4386	−0.039%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0191%	1h	0.4394	+0.137%	$52K	$199	10x	as long as short
BloFin TIA-USDTlong	+0.0340%	4h	0.4388	long leg	$1.5M	$719K	75x
Coinbase International TIA-PERP-INTX	+0.0376%	1h	0.4418	+0.684%	$52K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0493% / S −0.1196%	1h	0.4392	+0.093%	$40K	—	100x	as long as short
Injective TIA/USDC PERP	+0.0496%	1h	0.4415	+0.615%	$26K	$10K	12x	as long as short