Funding arb · Price arb /

GRT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.2803%/8h= +307.0% APRpaid last 24h +0.656%

Price spread now: Kraken Futures against BingX+0.136%7-day average +0.238% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2,435as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,464as in the Price arb table

costs, in and out, $10k−$2,45424.539% 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+0.186%+$19 on $10k

Price spread, last 3 days (all we have)+0.130%+$13 · spread now +0.136%, 7d avg +0.238%

Together, before fees+0.316%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.102% cheaper against BingX than usual: you would sell low and buy high (spread +0.136% now, against its 7-day average of +0.238%). If the spread goes back, that is −$10 on $10k: about 3 hours of funding at the current rate (+$84 a day). At the pace of the last 7 days (+0.186% in total) that is about 3.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.186% in total (about 9.7% 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	BingX GRT-USDT	0.02336	0.0100	pay 0.0100% / 8h	6h 50m	—	$2.4M	—
Short	Kraken Futures PF_GRTUSD	0.02339	0.2903	get 0.0363% / 1h	50m 42s	$287K	$66K	20x

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 +0.136%Rate

Funding earned: $588.69
Price spread: +0.136% → +0.238%: −$10.21
Slippage, 4 orders: −$2,433.92
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,875.43
Costs to cover: 24.539%
Break-even: 29.3 days

Slippage from BingX: live order book, 13 min ago; Kraken Futures: live order book, 17 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, 13 min ago	6.38 bp	20.3 bp −$20	48.9 bp −$489	388.8 bp −$38.9K	498.2 bp −$249.1K
Sell Kraken Futures live order book, 17 min ago	37.85 bp	53.6 bp −$54	doesn't fit	doesn't fit	doesn't fit

GRT 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
Variational Omni GRT	−0.0143%	8h	0.02335	−0.058%	$105K	$91K	—	as long as short
gTrade (Gains Network) GRT/USD	L +0.0024% / S +0.0001%	1h	0.02340	+0.192%	$640	—	150x	as long as short
Injective GRT/USDC PERP	+0.0033%	1h	0.02217	−5.094%	—	$8K	5.5x	as long as short
Bybit GRTUSDT	+0.0036%	8h	0.02336	0.000%	$2.8M	$2.4M	75x	as long as short
Bitget GRTUSDT	+0.0076%	8h	0.02335	−0.043%	$2.3M	$707K	75x	as long as short
Binance GRTUSDT	+0.0100%	8h	0.02338	+0.105%	$3.5M	$8.7M	75x	as long as short
OKX GRT-USDT-SWAP	+0.0100%	8h	0.02339	+0.128%	$620K	$870K	20x	as long as short
Gate GRT_USDT	+0.0100%	8h	0.02338	+0.086%	$453K	$428K	50x	as long as short
MEXC GRT_USDT	+0.0100%	8h	0.02338	+0.086%	$1.9M	$1.1M	200x	as long as short
KuCoin GRTUSDTM	+0.0100%	8h	0.02338	+0.086%	$1.0M	$626K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GRT-USDTlong	+0.0100%	8h	0.02336	long leg	—	$2.4M	—
BloFin GRT-USDT	+0.0116%	8h	0.02337	+0.043%	$177K	$229K	75x	as long as short
Kraken Futures PF_GRTUSDshort	+0.2903%	1h	0.02339	+0.136%	$287K	$66K	20x