Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.5443%/8h= +596.0% APRpaid last 24h +1.928%

Price spread now: Kraken Futures against BingX+0.348%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 7 days+2.083%+$208 on $10k

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 +$163 a day on $10k at the current rate, and Kraken Futures is 0.348% dearer against BingX than usual: you sell high and buy low: +$35 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.083% in total (about 108.6% 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 NIGHT-USDT	0.02433	0.0126	pay 0.0063% / 4h	1h 14m	—	$6.6M	—
Short	Kraken Futures PF_NIGHTUSD	0.02441	0.5569	get 0.0696% / 1h	14m 57s	$64K	$60K	25x

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 +0.348%Rate

Funding earned: $1,142.96
Price spread: +0.348% → 0.000%: $34.8
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $1,157.75
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 2 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, 2 min ago	6.16 bp	30.2 bp −$30	101.7 bp −$1,017	897.8 bp −$89.8K	1184.8 bp −$592.4K
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.

NIGHT on 15 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
Coinbase International NIGHT-PERP-INTX	−2.3328%	1h	0.02180	−10.390%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+0.082%	$1K	$58K	5.5x	as long as short
BloFin NIGHT-USDT	+0.0098%	4h	0.02436	+0.123%	$287K	$42K	50x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02434	+0.053%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02432	−0.023%	$5.4M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02433	0.000%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02433	+0.004%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02433	0.000%	$224K	$204K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02440	+0.270%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02435	+0.082%	$652K	$399K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02434	+0.041%	$1K	$1.9M	20x	as long as short
BingX NIGHT-USDTlong	+0.0126%	4h	0.02433	long leg	—	$6.6M	—
MEXC NIGHT_USDT	+0.0250%	4h	0.02432	−0.041%	$809K	$458K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0366%	1h	0.02436	+0.115%	$100	$99	10x	as long as short
Kraken Futures PF_NIGHTUSDshort	+0.5569%	1h	0.02441	+0.348%	$64K	$60K	25x