Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0704%/8h= +77.1% APRpaid last 24h +0.079%

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

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

Long on BingX 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

Funding pays, the price is against you. Kraken Futures is 0.048% cheaper against BingX than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 5 hours of funding at the current rate (+$21 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 2Z-USDT	0.05199	0.0100	pay 0.0050% / 4h	33m 31s	—	$6.5M	—
Short	Kraken Futures PF_2ZUSD	0.05197	0.0804	get 0.0100% / 1h	33m 31s	$5K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now −0.048%Rate

Funding earned: $147.83
Price spread: −0.048% → 0.000%: −$4.77
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $123.06
Costs to cover: 0.200%
Break-even: 1.2 days

Slippage unknown: BingX: live order book, 2 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 BingX live order book, 2 min ago	6.74 bp	28.5 bp −$28	97.0 bp −$970	802.8 bp −$80.3K	1213.0 bp −$606.5K
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.

2Z on 17 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
Backpack 2Z_USDC_PERP	−0.0734%	1h	0.05188	−0.212%	$45K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.212%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05206	+0.135%	$16K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05202	+0.054%	$672K	$366K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05198	−0.020%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05199	−0.004%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05203	+0.077%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05207	+0.154%	$687K	$976K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05208	+0.173%	$447K	$718K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05200	+0.019%	$90K	$65K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05201	+0.038%	$291K	$126K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05197	−0.038%	$191K	$52K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05199	0.000%	$153K	$622K	50x	as long as short
BingX 2Z-USDTlong	+0.0100%	4h	0.05199	long leg	—	$6.5M	—
Variational Omni 2Z	+0.0100%	4h	0.05189	−0.191%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05191	−0.154%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSDshort	+0.0804%	1h	0.05197	−0.048%	$5K	$3K	10x