Funding arb · Price arb /

ACE

all ACE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0403%/8h= −44.1% APRpaid last 24h −0.937%

Price spread now: BingX against Kraken Futures+0.310%7-day average −0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$145as in the Funding arb table

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

costs, in and out, $10k−$1331.330% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.120%−$12 on $10k

Price spread, last 4 days (all we have)−0.672%−$67 · spread now +0.310%, 7d avg −0.103%

Together, before fees−0.792%−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.413% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.310% now, against its 7-day average of −0.103%): +$41 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 3.4 days. At the pace of the last 7 days (−0.120% in total) that is about 24 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.120% in total (about -6.2% 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	Kraken Futures PF_ACEUSD	0.1771	0.0865	pay 0.0108% / 1h	37m 32s	$44K	$669K	10x
Short	BingX ACE-USDT	0.1776	0.0462	get 0.0231% / 4h	2h 37m	—	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.310%Rate

Funding earned: −$84.55
Price spread: +0.310% → −0.103%: $41.33
Slippage, 4 orders: −$113.05
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$176.27
Costs to cover: 1.330%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 11 min ago; BingX: 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, 11 min ago	9.29 bp	66.6 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	3.10 bp	23.4 bp −$23	72.6 bp −$726	doesn't fit	doesn't fit

ACE 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
Hyperliquid ACE	+0.0100%	1h	0.1773	+0.124%	$373K	$424K	3x	as long as short
Aster ACEUSDT	+0.0100%	4h	0.1775	+0.226%	$20K	$42K	5x	as long as short
Binance ACEUSDT	+0.0100%	4h	0.1775	+0.220%	$8.9M	$19.0M	20x	as long as short
MEXC ACE_USDT	+0.0100%	4h	0.1775	+0.237%	$14.3M	$781K	20x	as long as short
KuCoin ACEUSDTM	+0.0100%	4h	0.1773	+0.135%	$2.0M	$541K	20x	as long as short
Bitget ACEUSDT	+0.0100%	4h	0.1776	+0.294%	$1.6M	$2.1M	10x	as long as short
HTX ACE-USDT	+0.0100%	4h	0.1766	−0.254%	$16K	$73K	20x	as long as short
BloFin ACE-USDT	+0.0143%	4h	0.1771	−0.006%	$478K	$62K	20x	as long as short
Variational Omni ACE	+0.0294%	4h	0.1775	+0.210%	$119K	$44K	—	as long as short
Bybit ACEUSDT	+0.0445%	4h	0.1776	+0.294%	$2.7M	$2.9M	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ACE-USDTshort	+0.0462%	4h	0.1776	+0.310%	—	$1.4M	—
Gate ACE_USDT	+0.0470%	4h	0.1775	+0.237%	$1.2M	$1.8M	25x	as long as short
Kraken Futures PF_ACEUSDlong	+0.0865%	1h	0.1771	long leg	$44K	$669K	10x