Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+1.2423%/8h= +1360.3% APRpaid last 24h +4.182%

Price spread now: Kraken Futures against BingX+0.325%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 +$373 a day on $10k at the current rate, and Kraken Futures is 0.325% dearer against BingX than usual: you sell high and buy low: +$32 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 IO-USDT	0.1518	0.0100	pay 0.0050% / 4h	5m 15s	—	$1.3M	—
Short	Kraken Futures PF_IOUSD	0.1523	1.2523	get 0.1565% / 1h	5m 15s	$40K	$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 +0.325%Rate

Funding earned: $2,608.87
Price spread: +0.325% → 0.000%: $32.47
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $2,621.34
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 11 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, 11 min ago	6.60 bp	20.9 bp −$21	61.9 bp −$619	468.1 bp −$46.8K	569.1 bp −$284.5K
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.

IO on 14 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
Injective IO/USDC PERP	−0.0159%	1h	0.1519	+0.066%	$2K	$106	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1520	+0.165%	$1.0M	$388K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1520	+0.121%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1520	+0.121%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1517	−0.066%	$1.1M	$892K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1518	+0.007%	$245K	$552K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1518	0.000%	$1.2M	$232K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1519	+0.066%	$379K	$670K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1521	+0.198%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDTlong	+0.0100%	4h	0.1518	long leg	—	$1.3M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1516	−0.145%	$33K	$8K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1520	+0.101%	$5K	$171K	5x	as long as short
BloFin IO-USDT	+0.0134%	4h	0.1520	+0.132%	$193K	$31K	50x	as long as short
Kraken Futures PF_IOUSDshort	+1.2523%	1h	0.1523	+0.325%	$40K	$19K	10x