Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.2678%/8h= −293.2% APRpaid last 24h −0.519%

Price spread now: Kraken Futures against BingX+0.212%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 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

The price spread pays, funding is against you. Kraken Futures is 0.212% dearer against BingX than usual: you sell high and buy low (spread +0.212% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$80 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.03952	0.0100	pay 0.0050% / 4h	2m 03s	—	$6.8M	—
Short	Kraken Futures PF_SUSD	0.03960	−0.2578	pay 0.0322% / 1h	2m 03s	$33K	$13K	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 +0.212%Rate

Funding earned: −$562.32
Price spread: +0.212% → 0.000%: $21.16
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$561.16
Costs to cover: 0.200%
Break-even: from the start

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	5.05 bp	23.8 bp −$24	68.0 bp −$680	415.8 bp −$41.6K	692.6 bp −$346.3K
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.

S on 25 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
01 Exchange SUSD	−0.6136%	1h	0.03960	+0.202%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSDshort	−0.2578%	1h	0.03960	+0.212%	$33K	$13K	10x
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03942	−0.253%	$47K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03965	+0.329%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03962	+0.256%	$4	—	15x	as long as short
Variational Omni S	−0.0036%	4h	0.03906	−1.156%	$607K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03965	+0.328%	$611	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.745%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0072%	4h	0.03964	+0.304%	$98K	$277K	10x	as long as short
Lighter S	+0.0096%	1h	0.03966	+0.354%	$166K	$158K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03953	+0.030%	$988K	$582K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03961	+0.230%	$43K	$132K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03950	−0.063%	$5.4M	$14.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03944	−0.202%	$5.6M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03947	−0.127%	$998K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03955	+0.076%	$323K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03950	−0.051%	$3.6M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03962	+0.253%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03952	0.000%	$1.2M	$2.2M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.03952	long leg	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.03920	−0.810%	$24K	$459K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03945	−0.167%	$222K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03971	+0.481%	$270K	$99K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0759%	1h	0.03969	+0.430%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1136%	1h	0.03970	+0.455%	$115K	$421K	5x	as long as short