Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0432%/8h= −47.3% APRpaid last 24h −0.039%

Price spread now: Kraken Futures against SunX+0.218%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$251as in the Funding arb table

Net, price: spread back to 7d avg − costs−$210as in the Price arb table

costs, in and out, $10k−$2292.290% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.224%−$22 on $10k

Price spread, last 3 days (all we have)−0.258%−$26 · spread now +0.218%, 7d avg +0.031%

Together, before fees−0.482%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.188% dearer against SunX than usual: you sell high and buy low (spread +0.218% now, against its 7-day average of +0.031%): +$19 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 35 hours. At the pace of the last 7 days (−0.224% in total) that is about 5.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.224% in total (about -11.7% 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	SunX FIL-USDT	0.9860	0.0100	pay 0.0100% / 8h	7h 58m	$3K	$1.1M	20x
Short	Kraken Futures PF_FILUSD	0.9882	−0.0332	pay 0.0041% / 1h	58m 13s	$1.4M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now +0.218%Rate

Funding earned: −$90.66
Price spread: +0.218% → +0.031%: $18.77
Slippage, 4 orders: −$210.95
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$300.84
Costs to cover: 2.290%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; Kraken Futures: live order book, just now.

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 SunX live order book, 5 min ago	20.31 bp	73.0 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, just now	4.05 bp	21.0 bp −$21	36.2 bp −$362	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
Deribit FIL_USDC-PERPETUAL	−0.0964%	1h	0.9875	+0.152%	$170K	$23K	25x	as long as short
Gate FIL_USDT	−0.0929%	8h	0.9863	+0.030%	$8.2M	$16.0M	50x	as long as short
Kraken Futures PF_FILUSDshort	−0.0332%	1h	0.9882	+0.218%	$1.4M	$2.4M	50x
Coinbase International FIL-PERP-INTX	−0.0328%	1h	0.9866	+0.061%	$318K	$1.8M	50x	as long as short
Bybit FILUSDT	−0.0167%	8h	0.9878	+0.183%	$15.4M	$18.4M	25x	as long as short
KuCoin FILUSDTM	−0.0034%	8h	0.9866	+0.061%	$7.4M	$7.1M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0024%	8h	0.9870	+0.101%	$18.1M	$99.0M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9875	+0.155%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9873	+0.127%	$58K	$2K	10x	as long as short
Extended FIL-USD	+0.0032%	1h	0.9874	+0.138%	$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	−0.051%	$2K	$240K	12x	as long as short
Binance FILUSDT	+0.0034%	8h	0.9873	+0.131%	$57.2M	$179.6M	75x	as long as short
Bitget FILUSDT	+0.0047%	8h	0.9871	+0.112%	$10.9M	$21.6M	75x	as long as short
BingX FIL-USDT	+0.0048%	8h	0.9872	+0.122%	—	$11.9M	—	as long as short
MEXC FIL_USDC	+0.0053%	8h	0.9862	+0.020%	$247K	$103K	50x	as long as short
Phemex FILUSDT	+0.0080%	8h	0.9880	+0.203%	$1.1M	$2.3M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9869	+0.096%	$158K	$345K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9869	+0.089%	$8.5M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9869	+0.091%	$494K	$546K	20x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9846	−0.140%	$440K	$278K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9850	−0.105%	$45K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9856	−0.045%	$294K	$805K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9860	0.000%	$30K	$196K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9881	+0.214%	$5K	—	10x	as long as short
SunX FIL-USDTlong	+0.0100%	8h	0.9860	long leg	$3K	$1.1M	20x
SoDEX FIL-USD	+0.0100%	1h	0.9872	+0.122%	$488	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9882	+0.223%	$626K	$5.7M	75x	as long as short
BloFin FIL-USDT	+0.0140%	8h	0.9860	0.000%	$2.7M	$569K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0538% / S −0.0538%	1h	0.9875	+0.154%	$196K	—	100x	as long as short