Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.4737%/8h= +518.7% APRpaid last 24h −1.265%

Price spread now: BingX against Kraken Futures+0.092%7-day average −0.149% · you sell dearer than you buy

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

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.258%−$26 on $10k

Price spread, last 3 days (all we have)−0.085%−$9 · spread now +0.092%, 7d avg −0.149%

Together, before fees−0.343%−$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$142 a day on $10k at the current rate, and BingX is 0.241% dearer against Kraken Futures than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of −0.149%. Mind the row above: over the last 7 days funding on this pair cost −0.258%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.258% in total (about -13.4% 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_ATHUSD	0.005566	−0.4637	get 0.0580% / 1h	37m 02s	$19K	$106K	10x
Short	BingX ATH-USDT	0.005571	0.0100	get 0.0050% / 4h	1h 37m	—	$22.0M	—

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 +0.092%Rate

Funding earned: $994.69
Price spread: +0.092% → −0.149%: $24.12
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $998.8
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 45 min ago; BingX: live order book, 1 min ago. 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 Kraken Futures live order book, 45 min ago	20.48 bp	85.6 bp −$86	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	5.38 bp	29.8 bp −$30	70.3 bp −$703	517.5 bp −$51.8K	879.8 bp −$439.9K

ATH 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
Kraken Futures PF_ATHUSDlong	−0.4637%	1h	0.005566	long leg	$19K	$106K	10x
Variational Omni ATH	−0.0036%	4h	0.005573	+0.125%	$188K	$93K	—	as long as short
dYdX ATH-USD	−0.0013%	1h	0.005582	+0.289%	$11K	$16	5x	as long as short
BloFin ATH-USDT	+0.0069%	4h	0.005578	+0.218%	$173K	$61K	75x	as long as short
OKX ATH-USDT-SWAP	+0.0095%	4h	0.005566	+0.002%	$710K	$1.2M	20x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005578	+0.216%	$6K	$34K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005578	+0.212%	$3.4M	$3.9M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005568	+0.038%	$4.5M	$2.3M	25x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005571	+0.092%	$795K	$518K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005574	+0.146%	$8.9M	$652K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005570	+0.074%	$571K	$81K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005572	+0.110%	$1.6M	$796K	25x	as long as short
BingX ATH-USDTshort	+0.0100%	4h	0.005571	+0.092%	—	$22.0M	—