Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0380%/8h= +41.6% APRpaid last 24h +0.021%

Price spread now: BingX against Kraken Futures−0.026%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$430.429% 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+0.178%+$18 on $10k

Price spread, last 3 days (all we have)−0.049%−$5 · spread now −0.026%, 7d avg −0.069%

Together, before fees+0.129%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and BingX is 0.043% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.069%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.178% in total (about 9.3% 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_FILUSD	0.9871	−0.0332	get 0.0042% / 1h	58m 39s	$1.3M	$2.4M	50x
Short	BingX FIL-USDT	0.9868	0.0048	get 0.0048% / 8h	7h 58m	—	$11.9M	—

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 −0.026%Rate

Funding earned: $79.81
Price spread: −0.026% → −0.069%: $4.33
Slippage, 4 orders: −$22.87
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $41.28
Costs to cover: 0.429%
Break-even: 3.4 days

Slippage from Kraken Futures: live order book, 5 min ago; BingX: live order book, 14 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, 5 min ago	3.55 bp	14.2 bp −$14	27.0 bp −$270	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	1.02 bp	6.7 bp −$7	11.4 bp −$114	24.8 bp −$2,478	49.5 bp −$24.7K

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
Gate FIL_USDT	−0.0929%	8h	0.9870	−0.005%	$8.2M	$16.0M	50x	as long as short
Deribit FIL_USDC-PERPETUAL	−0.0459%	1h	0.9870	−0.005%	$170K	$23K	25x	as long as short
Kraken Futures PF_FILUSDlong	−0.0332%	1h	0.9871	long leg	$1.3M	$2.4M	50x
Coinbase International FIL-PERP-INTX	−0.0328%	1h	0.9866	−0.046%	$318K	$1.8M	50x	as long as short
Bybit FILUSDT	−0.0167%	8h	0.9866	−0.046%	$15.4M	$18.4M	25x	as long as short
KuCoin FILUSDTM	−0.0034%	8h	0.9867	−0.036%	$7.4M	$7.1M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0022%	8h	0.9862	−0.087%	$18.1M	$98.9M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9866	−0.043%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9873	+0.020%	$58K	$2K	10x	as long as short
Extended FIL-USD	+0.0032%	1h	0.9861	−0.097%	$689K	$2.3M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.157%	$2K	$240K	12x	as long as short
Binance FILUSDT	+0.0034%	8h	0.9862	−0.087%	$57.1M	$179.6M	75x	as long as short
Bitget FILUSDT	+0.0047%	8h	0.9866	−0.046%	$10.9M	$21.6M	75x	as long as short
BingX FIL-USDTshort	+0.0048%	8h	0.9868	−0.026%	—	$11.9M	—
MEXC FIL_USDC	+0.0053%	8h	0.9861	−0.097%	$247K	$103K	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9856	−0.150%	$158K	$345K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9868	−0.031%	$8.5M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9869	−0.011%	$494K	$546K	20x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9846	−0.247%	$440K	$278K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9850	−0.212%	$45K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9856	−0.152%	$294K	$805K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9860	−0.107%	$30K	$196K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9871	+0.002%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9850	−0.208%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9861	−0.097%	$480	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9871	+0.005%	$625K	$5.7M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9870	−0.005%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0140%	8h	0.9860	−0.107%	$2.7M	$569K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0538% / S −0.0538%	1h	0.9866	−0.046%	$196K	—	100x	as long as short