Funding arb · Price arb /

MOODENG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.8770%/8h= −960.3% APRpaid last 24h −0.913%

Price spread now: BingX against Kraken Futures−1.110%53s7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2,789as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2,63726.369% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.518%−$152 on $10k

Price spread, last 3 days (all we have)+1.246%+$125 · spread now −1.110%, 7d avg −0.062%

Together, before fees−0.272%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$263 a day on $10k at the current rate, and BingX is 1.048% cheaper against Kraken Futures than usual: you would sell low and buy high (−$105 if the spread goes back to its 7-day average of −0.062%). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.518% in total (about -79.2% 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	Kraken Futures PF_MOODENGUSD	0.04840	0.9002	pay 0.1125% / 1h	31m 26s	$68K	$100K	20x
Short	BingX MOODENG-USDT	0.04786	0.0232	get 0.0116% / 4h	1h 31m	—	$6.7M	—

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 −1.110%Rate

Funding earned: −$1,841.61
Price spread: −1.110% → −0.062%: −$104.8
Slippage, 4 orders: −$2,616.94
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$4,583.34
Costs to cover: 26.369%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 51 min ago; BingX: live order book, 6 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 Kraken Futures live order book, 51 min ago	44.93 bp	2544.8 bp −$2,545	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	4.16 bp	17.7 bp −$18	52.8 bp −$528	500.2 bp −$50.0K	804.3 bp −$402.2K

MOODENG on 17 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
GMX MOODENG/USD [WBTC.b-USDC]	L −1.1224% / S +0.0193%	1h	0.04783	−1.172%	$19	—	100x	as long as short
Aster MOODENGUSDT	+0.0100%	4h	0.04796	−0.910%	$10K	$32K	5x	as long as short
Binance MOODENGUSDT	+0.0100%	4h	0.04793	−0.974%	$2.6M	$11.1M	50x	as long as short
Bybit MOODENGUSDT	+0.0100%	4h	0.04787	−1.089%	$1.7M	$4.2M	50x	as long as short
OKX MOODENG-USDT-SWAP	+0.0100%	4h	0.04782	−1.193%	$2.1M	$4.5M	20x	as long as short
Gate MOODENG_USDT	+0.0100%	4h	0.04791	−1.007%	$574K	$774K	50x	as long as short
MEXC MOODENG_USDT	+0.0100%	4h	0.04788	−1.069%	$925K	$306K	50x	as long as short
KuCoin MOODENGUSDTM	+0.0100%	4h	0.04791	−1.007%	$1.7M	$3.0M	50x	as long as short
Variational Omni MOODENG	+0.0100%	4h	0.04808	−0.656%	$8K	$30K	—	as long as short
SunX MOODENG-USDT	+0.0100%	4h	0.04897	+1.184%	$1K	$1.8M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MOODENG-USDT	+0.0134%	4h	0.04805	−0.717%	$179K	$139K	50x	as long as short
GRVT MOODENG_USDT_Perp	+0.0142%	4h	0.04804	−0.730%	$423K	$2.2M	10x	as long as short
Bitget MOODENGUSDT	+0.0226%	4h	0.04789	−1.048%	$1.3M	$1.2M	50x	as long as short
BingX MOODENG-USDTshort	+0.0232%	4h	0.04786	−1.110%	—	$6.7M	—
Hyperliquid MOODENG	+0.0259%	1h	0.04793	−0.972%	$465K	$412K	3x	as long as short
ApeX Omni MOODENGUSDT	+0.1391%	1h	0.04805	−0.717%	$22K	$648K	25x	as long as short
Kraken Futures PF_MOODENGUSDlong	+0.9002%	1h	0.04840	long leg	$68K	$100K	20x