Funding arb · Price arb /

GPS

all GPS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.3098%/8h= −339.2% APRpaid last 24h −0.114%

Price spread now: BingX against Kraken Futures−0.465%53s7-day average — · you buy dearer than you sell

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 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$93 a day on $10k at the current rate, and BingX is 0.465% cheaper against Kraken Futures than usual: you would sell low and buy high (−$47 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_GPSUSD	0.01127	0.3198	pay 0.0400% / 1h	27m 29s	$17K	$8K	10x
Short	BingX GPS-USDT	0.01122	0.0100	get 0.0050% / 4h	2h 27m	—	$1.2M	—

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 −0.465%Rate

Funding earned: −$650.49
Price spread: −0.465% → 0.000%: −$46.54
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$717.02
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 8 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, 8 min ago	3.58 bp	23.7 bp −$24	105.5 bp −$1,055	616.9 bp −$61.7K	1022.1 bp −$511.1K

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.

GPS on 13 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
Aster GPSUSDT	+0.0100%	4h	0.01122	−0.470%	$10K	$18K	5x	as long as short
Binance GPSUSDT	+0.0100%	4h	0.01123	−0.350%	$8.9M	$9.3M	50x	as long as short
Bybit GPSUSDT	+0.0100%	4h	0.01122	−0.510%	$1.5M	$1.3M	50x	as long as short
OKX GPS-USDT-SWAP	+0.0100%	4h	0.01125	−0.244%	$931K	$1.5M	20x	as long as short
Gate GPS_USDT	+0.0100%	8h	0.01123	−0.412%	$588K	$326K	25x	as long as short
MEXC GPS_USDT	+0.0100%	4h	0.01124	−0.341%	$2.8M	$546K	100x	as long as short
KuCoin GPSUSDTM	+0.0100%	4h	0.01122	−0.474%	$549K	$159K	30x	as long as short
Bitget GPSUSDT	+0.0100%	4h	0.01123	−0.412%	$928K	$710K	50x	as long as short
BingX GPS-USDTshort	+0.0100%	4h	0.01122	−0.465%	—	$1.2M	—
Variational Omni GPS	+0.0100%	4h	0.01117	−0.902%	$3K	$201	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX GPS-USDT	+0.0100%	4h	0.01122	−0.492%	$9K	$144K	20x	as long as short
Extended GPS-USD	+0.0104%	1h	0.01123	−0.367%	—	—	5x	as long as short
Kraken Futures PF_GPSUSDlong	+0.3198%	1h	0.01127	long leg	$17K	$8K	10x