Funding arb · Price arb /

DEXE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0618%/8h= −67.6% APRpaid last 24h +0.035%

Price spread now: BingX against Kraken Futures+0.048%7-day average — · 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+0.058%+$6 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. BingX is 0.048% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.048% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 6 hours. Mind the row above: over the last 7 days funding on this pair paid +0.058%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.058% in total (about 3.0% 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_DEXEUSD	1.9491	0.0718	pay 0.0090% / 1h	40m 34s	$43K	$54K	20x
Short	BingX DEXE-USDT	1.9500	0.0100	get 0.0050% / 4h	3h 40m	—	$1.8M	—

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 +0.048%Rate

Funding earned: −$129.69
Price spread: +0.048% → 0.000%: $4.83
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$144.87
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 2 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 no order-book sample	—	—	—	—	—
Sell BingX live order book, 2 min ago	2.56 bp	11.3 bp −$11	36.1 bp −$361	860.3 bp −$86.0K	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

DEXE 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 DEXE/USDC PERP	+0.0033%	1h	1.8600	−4.569%	—	$3K	5.5x	as long as short
Aster DEXEUSDT	+0.0100%	4h	1.9499	+0.042%	$173K	$34K	5x	as long as short
Binance DEXEUSDT	+0.0100%	4h	1.9480	−0.054%	$7.0M	$8.8M	20x	as long as short
Gate DEXE_USDT	+0.0100%	4h	1.9490	−0.003%	$487K	$779K	20x	as long as short
MEXC DEXE_USDT	+0.0100%	4h	1.9480	−0.054%	$1.8M	$215K	20x	as long as short
Bitget DEXEUSDT	+0.0100%	4h	1.9470	−0.106%	$3.2M	$554K	10x	as long as short
BingX DEXE-USDTshort	+0.0100%	4h	1.9500	+0.048%	—	$1.8M	—
Variational Omni DEXE	+0.0100%	4h	1.9512	+0.110%	$35K	$2K	—	as long as short
Orderly PERP_DEXE_USDC_mythos	+0.0100%	4h	1.9470	−0.106%	$8K	—	10x	as long as short
BloFin DEXE-USDT	+0.0340%	4h	1.9480	−0.054%	$394K	$33K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_DEXEUSDlong	+0.0718%	1h	1.9491	long leg	$43K	$54K	20x
Bybit DEXEUSDT	+0.0868%	4h	1.9510	+0.100%	$2.4M	$932K	20x	as long as short