Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0478%/8hpaid last 24h +0.066%

Price spread now: OKX against Kraken Futures−0.235%45s7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as 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−$660.658% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.372%−$37 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.235%, 7d avg −0.099%

Together, before fees−0.303%−$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.136% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.235% now, against its 7-day average of −0.099%). If the spread goes back, that is −$14 on $10k: about 23 hours of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −0.372%, so the current rate has only just turned in your favour. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TIAUSD	0.4324	−0.0406	get 0.0051% / 1h	23m 33s	$361K	$233K	50x
Short	OKX TIA-USDT-SWAP	0.4314	0.0073	get 0.0036% / 4h	23m 33s	$2.7M	$5.7M	50x

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 −0.235%Rate

Funding earned: $100.42
Price spread: −0.235% → −0.099%: −$13.6
Slippage, 4 orders: −$45.79
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $21.03
Costs to cover: 0.658%
Break-even: 5.5 days

Slippage from Kraken Futures: live order book, 8 min ago; OKX: live order book, 4 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 Kraken Futures live order book, 8 min ago	3.47 bp	17.5 bp −$17	50.1 bp −$501	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.16 bp	16.3 bp −$16	44.6 bp −$446	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
Kraken Futures PF_TIAUSDlong	−0.0406%	1h	0.4324	long leg	$361K	$233K	50x
Backpack TIA_USDC_PERP	−0.0201%	1h	0.4323	−0.036%	$99K	$153K	10x	as long as short
Gate TIA_USDT	−0.0104%	4h	0.4314	−0.235%	$985K	$1.8M	75x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4326	+0.043%	$36K	$22K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4327	+0.066%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0034%	1h	0.4315	−0.212%	$48K	$233K	50x	as long as short
KuCoin TIAUSDTM	+0.0046%	4h	0.4316	−0.189%	$4.2M	$8.9M	50x	as long as short
OKX TIA-USDT-SWAPshort	+0.0073%	4h	0.4314	−0.235%	$2.7M	$5.7M	50x
Lighter TIA	+0.0096%	1h	0.4320	−0.108%	$122K	$369K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0100%	4h	0.4323	−0.027%	$5K	$357K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TIA	+0.0100%	1h	0.4321	−0.064%	$4.2M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4319	−0.119%	$30K	$266K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4315	−0.212%	$14.1M	$40.4M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4316	−0.189%	$9.4M	$12.5M	50x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4315	−0.212%	$9.2M	$5.7M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4314	−0.235%	$4.4M	$3.5M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4316	−0.189%	—	$98.9M	—	as long as short
Variational Omni TIA	+0.0100%	4h	0.4310	−0.316%	$95K	$74K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4322	−0.050%	$74K	$15K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4315	−0.218%	$88K	$150K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4324	−0.011%	$7K	—	3x	as long as short
Injective TIA/USDC PERP	+0.0133%	1h	0.4315	−0.212%	$26K	$10K	12x	as long as short
Reya TIARUSDPERP	+0.0178%	1h	0.4315	−0.211%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0272%	1h	0.4332	+0.181%	$49K	$69K	50x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4322	−0.050%	$923K	$464K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0395% / S −0.2692%	1h	0.4327	+0.074%	$28K	—	100x	as long as short
dYdX TIA-USD	+0.0699%	1h	0.4322	−0.050%	$51K	$59	10x	as long as short