Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1789%/8h= −195.8% APRpaid last 24h −0.396%

Price spread now: Kraken Futures against BingX−0.394%7-day average +0.134% · you buy dearer than you sell

Net, funding: paid 7d − costs−$293as in the Funding arb table

Net, price: spread back to 7d avg − costs−$193as in the Price arb table

costs, in and out, $10k−$1401.403% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.530%−$153 on $10k

Price spread, last 3 days (all we have)+0.272%+$27 · spread now −0.394%, 7d avg +0.134%

Together, before fees−1.258%−$126 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$54 a day on $10k at the current rate, and Kraken Futures is 0.528% cheaper against BingX than usual: you would sell low and buy high (−$53 if the spread goes back to its 7-day average of +0.134%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AR-USDT	4.5550	0.0100	pay 0.0100% / 8h	6h 28m	—	$2.9M	—
Short	Kraken Futures PF_ARUSD	4.5370	−0.1689	pay 0.0211% / 1h	28m 31s	$56K	$150K	20x

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 −0.394%Rate

Funding earned: −$375.6
Price spread: −0.394% → +0.134%: −$52.8
Slippage, 4 orders: −$120.33
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$568.74
Costs to cover: 1.403%
Break-even: never at this rate

Slippage from BingX: live order book, 1 min ago; Kraken Futures: live order book, 39 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 BingX live order book, 1 min ago	3.31 bp	20.2 bp −$20	35.6 bp −$356	368.4 bp −$36.8K	726.6 bp −$363.3K
Sell Kraken Futures live order book, 39 min ago	42.15 bp	54.4 bp −$54	doesn't fit	doesn't fit	doesn't fit

AR on 16 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_ARUSDshort	−0.1689%	1h	4.5370	−0.394%	$56K	$150K	20x
Injective AR/USDC PERP	−0.0353%	1h	4.6110	+1.229%	$2K	$2K	5.5x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5268	−0.619%	$583K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0124%	8h	4.5560	+0.022%	$2.3M	$19.5M	20x	as long as short
MEXC AR_USDT	+0.0038%	8h	4.5600	+0.110%	$6.5M	$4.3M	100x	as long as short
Extended AR-USD	+0.0040%	1h	4.5571	+0.046%	$37K	$238K	10x	as long as short
Binance ARUSDT	+0.0041%	8h	4.5573	+0.050%	$9.1M	$53.1M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5559	+0.020%	$4.1M	$4.7M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5505	−0.099%	$26K	$495K	10x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.5560	+0.022%	$4.6M	$8.5M	75x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.5560	+0.022%	$2.6M	$2.1M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.5590	+0.088%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5540	−0.022%	$3.9M	$5.4M	75x	as long as short
BingX AR-USDTlong	+0.0100%	8h	4.5550	long leg	—	$2.9M	—
Variational Omni AR	+0.0100%	8h	4.5183	−0.806%	$141K	$165K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5260	−0.637%	$20K	$741K	50x	as long as short