Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1597%/8h= +174.9% APRpaid last 24h +0.911%

Price spread now: Kraken Futures against BingX−0.055%53s7-day average — · you buy dearer than you sell

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

Funding pays, the price is against you. Kraken Futures is 0.055% cheaper against BingX than usual: you would sell low and buy high (spread −0.055% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 3 hours of funding at the current rate (+$48 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NOT-USDT	0.0004993	0.0100	pay 0.0050% / 4h	2h 22m	—	$8.5M	—
Short	Kraken Futures PF_NOTUSD	0.0004990	0.1697	get 0.0212% / 1h	22m 27s	$49K	$9K	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 −0.055%Rate

Funding earned: $335.34
Price spread: −0.055% → 0.000%: −$5.53
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $309.81
Costs to cover: 0.200%
Break-even: 0.5 days

Slippage unknown: BingX: live order book, 1 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, 1 min ago	6.01 bp	23.0 bp −$23	93.8 bp −$938	652.1 bp −$65.2K	doesn't fit
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.

NOT on 16 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
Variational Omni NOT	−0.0152%	4h	0.0004969	−0.477%	$71K	$38K	—	as long as short
KuCoin NOTUSDTM	−0.0064%	4h	0.0004986	−0.140%	$475K	$136K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−2.383%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005000	+0.136%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0004990	−0.060%	$336K	$68K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0004996	+0.054%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0004997	+0.074%	$2.0M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0004992	−0.020%	$2.1M	$897K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0004998	+0.100%	$634K	$699K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005000	+0.140%	$138K	$73K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0004993	0.000%	$1.3M	$450K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0004998	+0.100%	$652K	$487K	50x	as long as short
BingX NOT-USDTlong	+0.0100%	4h	0.0004993	long leg	—	$8.5M	—
Extended kNOT-USD	+0.0104%	1h	0.0004990	−0.067%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0137%	4h	0.0004989	−0.080%	$109K	$18K	50x	as long as short
Kraken Futures PF_NOTUSDshort	+0.1697%	1h	0.0004990	−0.055%	$49K	$9K	10x