KERNEL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.9054%/8h= −991.4% APRnext payment −$45.27 per $10,000 · paid last 24h −0.334%

Price spread now: BingX against MEXC+0.015%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$830.835% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.325%−$33 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now +0.015%, 7d avg +0.047%

Together, before fees−0.268%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$272 a day on $10k at the current rate, and BingX is 0.032% cheaper against MEXC than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.047%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.325% in total (about -17.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$45.27 per $10,000. 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	MEXC KERNEL_USDT	0.06574	−0.9486	get 0.4743% / 4h	2h 12m	$1.4M	$1.6M	20x
Short	BingX KERNEL-USDT	0.06575	−1.8540	pay 0.9270% / 4h	2h 12m	—	$7.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$1,901.34
Price spread: +0.015% → +0.047%: −$3.2
Slippage, 4 orders: −$69.5
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1,988.04
Costs to cover: 0.835%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; BingX: live order book, 10 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 MEXC live order book, 4 min ago	2.27 bp	13.6 bp −$14	20.4 bp −$204	229.2 bp −$22.9K	doesn't fit
Sell BingX live order book, 10 min ago	8.28 bp	28.8 bp −$29	85.4 bp −$854	590.3 bp −$59.0K	doesn't fit

KERNEL on 8 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
Bybit KERNELUSDT	−2.0722%	4h	0.06623	+0.745%	$1.9M	$9.8M	20x	as long as short
BingX KERNEL-USDTshort	−1.8540%	4h	0.06575	+0.015%	—	$7.0M	—
Variational Omni KERNEL	−1.2327%	4h	0.06680	+1.609%	$11K	$24K	—	as long as short
Gate KERNEL_USDT	−1.1118%	4h	0.06557	−0.259%	$257K	$1.0M	50x	as long as short
KuCoin KERNELUSDTM	−1.0528%	4h	0.06559	−0.228%	$264K	$422K	30x	as long as short
Binance KERNELUSDT	−0.9604%	4h	0.06586	+0.188%	$3.8M	$43.0M	25x	as long as short
MEXC KERNEL_USDTlong	−0.9486%	4h	0.06574	long leg	$1.4M	$1.6M	20x
Bitget KERNELUSDT	−0.7586%	4h	0.06577	+0.046%	$769K	$4.8M	25x	as long as short