Funding arb · Price arb /

GRIFFAIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+2.1503%/8h= +2354.6% APRpaid last 24h +2.913%

Price spread now: Kraken Futures against BingX+0.249%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Kraken Futures

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 for this trade now. Funding pays +$645 a day on $10k at the current rate, and Kraken Futures is 0.249% dearer against BingX than usual: you sell high and buy low: +$25 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX GRIFFAIN-USDT	0.01573	0.0344	pay 0.0172% / 4h	1h 58m	—	$6.5M	—
Short	Kraken Futures PF_GRIFFAINUSD	0.01577	2.1847	get 0.2731% / 1h	58m 27s	$18K	$19K	10x

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 +0.249%Rate

Funding earned: $4,515.66
Price spread: +0.249% → 0.000%: $24.89
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $4,520.55
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 8 min ago; Kraken Futures: no order-book sample. 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 BingX live order book, 8 min ago	7.93 bp	31.0 bp −$31	358.7 bp −$3,587	601.8 bp −$60.2K	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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.

GRIFFAIN 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
Reya GRIFFAINRUSDPERP	0.0000%	1h	0.01177	−25.180%	—	—	—	as long as short
Hyperliquid GRIFFAIN	+0.0100%	1h	0.01575	+0.121%	$1.2M	$103K	3x	as long as short
Bybit GRIFFAINUSDT	+0.0100%	4h	0.01574	+0.032%	$762K	$482K	25x	as long as short
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01572	−0.070%	$433K	$84K	10x	as long as short
KuCoin GRIFFAINUSDTM	+0.0100%	4h	0.01567	−0.400%	$471K	$46K	20x	as long as short
Bitget GRIFFAINUSDT	+0.0320%	4h	0.01573	−0.019%	$374K	$283K	10x	as long as short
BingX GRIFFAIN-USDTlong	+0.0344%	4h	0.01573	long leg	—	$6.5M	—
Binance GRIFFAINUSDT	+0.0365%	4h	0.01573	−0.021%	$4.2M	$1.9M	20x	as long as short
MEXC GRIFFAIN_USDT	+0.0374%	4h	0.01572	−0.083%	$283K	$114K	100x	as long as short
BloFin GRIFFAIN-USDT	+0.0431%	4h	0.01572	−0.051%	$272K	$12K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GRIFFAINUSDT	+0.0461%	4h	0.01573	−0.038%	$15K	$19K	5x	as long as short
Kraken Futures PF_GRIFFAINUSDshort	+2.1847%	1h	0.01577	+0.249%	$18K	$19K	10x