Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0255%/8h= −27.9% APRpaid last 24h −0.040%

Price spread now: KuCoin against Kraken Futures−0.048%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$930.933% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now −0.048%, 7d avg −0.063%

Together, before fees−0.184%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.063%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.017% in total (about -0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2569	0.0355	pay 0.0044% / 1h	5m 19s	$658K	$3.1M	50x
Short	KuCoin WIFUSDTM	0.2568	0.0100	get 0.0050% / 4h	5m 19s	$3.8M	$19.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$53.57
Price spread: −0.048% → −0.063%: $1.51
Slippage, 4 orders: −$71.26
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$145.31
Costs to cover: 0.933%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; KuCoin: live order book, 2 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, 2 min ago	7.79 bp	21.1 bp −$21	341.7 bp −$3,417	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	3.90 bp	22.7 bp −$23	73.2 bp −$732	doesn't fit	doesn't fit

WIF on 32 exchanges

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
BloFin WIF-USDT	−0.0155%	4h	0.2568	−0.048%	$882K	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0125% / S +0.0186%	1h	0.2568	−0.056%	$9K	—	100x	as long as short
Backpack WIF_USDC_PERP	−0.0062%	1h	0.2569	−0.020%	$86K	$404K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2568	−0.037%	$20K	$8K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2568	−0.048%	$34K	$218K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2567	−0.075%	$4K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2570	+0.030%	$8K	$34K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2568	−0.048%	$122K	$967K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2571	+0.069%	$55K	$582K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2568	−0.059%	$10.5M	$10.2M	5x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2567	−0.096%	$33K	$414K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2569	−0.020%	$79K	$101K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2567	−0.076%	$21.1M	$182.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2566	−0.121%	$17.7M	$61.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2567	−0.086%	$6.4M	$53.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2568	−0.048%	$1.2M	$13.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2568	−0.048%	$22.7M	$16.0M	50x	as long as short
KuCoin WIFUSDTMshort	+0.0100%	4h	0.2568	−0.048%	$3.8M	$19.2M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2567	−0.086%	$7.8M	$20.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2567	−0.086%	—	$28.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2571	+0.060%	$76K	$513K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2564	−0.203%	$285K	$3.5M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2567	−0.086%	$37K	$648K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2567	−0.086%	$5K	$747K	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2564	−0.203%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2566	−0.106%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2568	−0.048%	$153K	$1.0M	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2566	−0.144%	$14K	$269K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2567	−0.096%	$86K	—	3x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0355%	1h	0.2569	long leg	$658K	$3.1M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2568	−0.056%	$1	—	15x	as long as short
Coinbase International WIF-PERP-INTX	+0.0600%	1h	0.2570	+0.030%	$362K	$4.2M	50x	as long as short