Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0774%/8h= −84.8% APRpaid last 24h −0.011%

Price spread now: Kraken Futures against BingX+0.093%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$550.553% 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−0.171%−$17 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now +0.093%, 7d avg +0.070%

Together, before fees−0.162%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.023% dearer against BingX than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of +0.070%): +$2 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.171% in total) that is about 23 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.171% in total (about -8.9% 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	BingX FIL-USDC	0.9882	0.0080	pay 0.0080% / 8h	1h 32m	—	$6.5M	—
Short	Kraken Futures PF_FILUSD	0.9891	−0.0694	pay 0.0087% / 1h	32m 53s	$1.4M	$2.3M	50x

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 +0.093%Rate

Funding earned: −$162.54
Price spread: +0.093% → +0.070%: $2.32
Slippage, 4 orders: −$35.32
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$215.55
Costs to cover: 0.553%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Kraken Futures: live order book, 1 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, 2 min ago	0.51 bp	11.7 bp −$12	25.0 bp −$250	167.5 bp −$16.7K	610.3 bp −$305.2K
Sell Kraken Futures live order book, 1 min ago	3.54 bp	15.5 bp −$16	42.5 bp −$425	doesn't fit	doesn't fit

FIL on 29 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_FILUSDshort	−0.0694%	1h	0.9891	+0.093%	$1.4M	$2.3M	50x
Deribit FIL_USDC-PERPETUAL	−0.0457%	1h	0.9899	+0.172%	$170K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0376%	1h	0.9872	−0.101%	$317K	$1.9M	50x	as long as short
Injective FIL/USDC PERP	−0.0252%	1h	0.9855	−0.273%	$2K	$240K	12x	as long as short
Bitget FILUSDT	−0.0016%	8h	0.9882	0.000%	$11.0M	$21.5M	75x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9895	+0.128%	$25K	—	150x	as long as short
Lighter FIL	0.0000%	1h	0.9884	+0.017%	$158K	$349K	5x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9890	+0.080%	$58K	$2K	10x	as long as short
Bybit FILUSDT	+0.0006%	8h	0.9883	+0.010%	$15.5M	$18.0M	25x	as long as short
KuCoin FILUSDTM	+0.0011%	8h	0.9882	0.000%	$7.4M	$7.0M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX FIL-USDT-SWAP	+0.0030%	8h	0.9879	−0.030%	$18.1M	$97.2M	50x	as long as short
MEXC FIL_USDC	+0.0074%	8h	0.9881	−0.010%	$251K	$104K	50x	as long as short
Binance FILUSDT	+0.0076%	8h	0.9878	−0.040%	$56.8M	$175.1M	75x	as long as short
Extended FIL-USD	+0.0080%	1h	0.9876	−0.062%	$689K	$2.3M	10x	as long as short
BingX FIL-USDClong	+0.0080%	8h	0.9882	long leg	—	$6.5M	—
Variational Omni FIL	+0.0099%	8h	0.9875	−0.067%	$439K	$277K	—	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9883	+0.015%	$8.6M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9886	+0.038%	$496K	$525K	20x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9884	+0.020%	$7.8M	$16.2M	50x	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9864	−0.186%	$45K	$293K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9868	−0.145%	$287K	$803K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9860	−0.223%	$30K	$198K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9898	+0.157%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9880	−0.020%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9885	+0.030%	$486	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9898	+0.162%	$626K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9880	−0.020%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0196%	8h	0.9887	+0.051%	$2.7M	$657K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0598% / S −0.0709%	1h	0.9893	+0.113%	$207K	—	100x	as long as short