Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.3713%/8h= −406.6% APRpaid last 24h −0.624%

Price spread now: Bitget against Kraken Futures−0.016%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,089as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,073as in the Price arb table

costs, in and out, $10k−$1,08010.801% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 3 days (all we have)−0.170%−$17 · spread now −0.016%, 7d avg −0.089%

Together, before fees−0.264%−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.074% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.016% now, against its 7-day average of −0.089%): +$7 on $10k if it goes back. Holding the pair costs −$111 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.094% in total) that is about 5.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.094% in total (about -4.9% 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_CVXUSD	2.0593	0.3813	pay 0.0477% / 1h	28m 40s	$115K	$83K	10x
Short	Bitget CVXUSDT	2.0590	0.0100	get 0.0050% / 4h	2h 28m	$623K	$126K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$779.72
Price spread: −0.016% → −0.089%: $7.35
Slippage, 4 orders: −$1,058.08
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$1,852.45
Costs to cover: 10.801%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 38 min ago; Bitget: live order book, 37 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, 38 min ago	27.38 bp	929.6 bp −$930	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 37 min ago	7.22 bp	43.3 bp −$43	143.1 bp −$1,431	doesn't fit	doesn't fit

CVX on 12 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
Injective CVX/USDC PERP	+0.0033%	1h	1.9790	−3.900%	—	$33K	5.5x	as long as short
Binance CVXUSDT	+0.0100%	4h	2.0610	+0.082%	$1.7M	$2.5M	75x	as long as short
Bybit CVXUSDT	+0.0100%	4h	2.0629	+0.174%	$1.7M	$755K	75x	as long as short
OKX CVX-USDT-SWAP	+0.0100%	4h	2.0610	+0.082%	$253K	$332K	10x	as long as short
Gate CVX_USDT	+0.0100%	8h	2.0570	−0.113%	$69K	$26K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0600	+0.033%	$2.0M	$471K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0610	+0.082%	$817K	$69K	20x	as long as short
Bitget CVXUSDTshort	+0.0100%	4h	2.0590	−0.016%	$623K	$126K	25x
BingX CVX-USDT	+0.0100%	4h	2.0620	+0.130%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0602	+0.042%	$6K	$2K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX CVX/USD [ETH-USDC]	L +0.0489% / S −0.0195%	1h	2.0581	−0.062%	$170K	—	100x	as long as short
Kraken Futures PF_CVXUSDlong	+0.3813%	1h	2.0593	long leg	$115K	$83K	10x