Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0972%/8h= −106.4% APRpaid last 24h −0.281%

Price spread now: BingX against Kraken Futures−0.543%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$238as in the Price arb table

costs, in and out, $10k−$1811.811% 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−0.137%−$14 on $10k

Price spread, last 4 days (all we have)+0.852%+$85 · spread now −0.543%, 7d avg +0.025%

Together, before fees+0.715%+$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and BingX is 0.568% cheaper against Kraken Futures than usual: you would sell low and buy high (−$57 if the spread goes back to its 7-day average of +0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.137% in total (about -7.1% 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_BRETTUSD	0.005835	0.1500	pay 0.0188% / 1h	56m 29s	$39K	$105K	10x
Short	BingX BRETT-USDT	0.005803	0.0528	get 0.0264% / 4h	3h 56m	—	$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 −0.543%Rate

Funding earned: −$204.13
Price spread: −0.543% → +0.025%: −$56.77
Slippage, 4 orders: −$161.08
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$441.97
Costs to cover: 1.811%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 12 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, 12 min ago	42.98 bp	48.0 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	10.34 bp	38.1 bp −$38	120.1 bp −$1,201	575.9 bp −$57.6K	830.9 bp −$415.4K

BRETT on 14 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
GMX BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005807	−0.474%	—	—	100x	as long as short
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	+0.074%	$61	$854	5.5x	as long as short
Hyperliquid BRETT	+0.0100%	1h	0.005819	−0.268%	$315K	$290K	3x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005812	−0.390%	$1.2M	$3.0M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005805	−0.508%	$2.1M	$2.3M	25x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005806	−0.491%	$421K	$106K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005816	−0.320%	$12.3M	$233K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005813	−0.371%	$280K	$118K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005803	−0.543%	$1.4M	$607K	50x	as long as short
Variational Omni BRETT	+0.0100%	4h	0.005796	−0.659%	$43K	$105K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin BRETT-USDT	+0.0115%	4h	0.005815	−0.337%	$57K	$206K	50x	as long as short
OKX BRETT-USDT-SWAP	+0.0511%	4h	0.005821	−0.234%	$148K	$411K	10x	as long as short
BingX BRETT-USDTshort	+0.0528%	4h	0.005803	−0.543%	—	$1.4M	—
Kraken Futures PF_BRETTUSDlong	+0.1500%	1h	0.005835	long leg	$39K	$105K	10x