Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0610%/8h= +66.8% APRpaid last 24h +0.191%

Price spread now: BingX against Kraken Futures+0.045%7-day average — · you sell dearer than you buy

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 for this trade now. Funding pays +$18 a day on $10k at the current rate, and BingX is 0.045% dearer against Kraken Futures than usual: you sell high and buy low: +$4 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	Kraken Futures PF_LAYERUSD	0.07580	−0.0468	get 0.0058% / 1h	39m 56s	$8K	$964	10x
Short	BingX LAYER-USDT	0.07583	0.0142	get 0.0071% / 4h	2h 39m	—	$1.6M	—

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 +0.045%Rate

Funding earned: $128.09
Price spread: +0.045% → 0.000%: $4.46
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $112.55
Costs to cover: 0.200%
Break-even: 0.8 days

Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 7 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, 7 min ago	3.30 bp	22.4 bp −$22	77.6 bp −$776	559.7 bp −$56.0K	810.4 bp −$405.2K

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.

LAYER 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
Kraken Futures PF_LAYERUSDlong	−0.0468%	1h	0.07580	long leg	$8K	$964	10x
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.032%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07588	+0.108%	$584K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07575	−0.055%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07579	−0.008%	$2.0M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07578	−0.021%	$698K	$641K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07573	−0.087%	$135K	$54K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07579	−0.008%	$349K	$114K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07579	−0.008%	$1.1M	$161K	50x	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07570	−0.127%	$25K	$187K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin LAYER-USDT	+0.0102%	4h	0.07571	−0.114%	$113K	$12K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07578	−0.022%	$2K	$174K	5x	as long as short
BingX LAYER-USDTshort	+0.0142%	4h	0.07583	+0.045%	—	$1.6M	—