Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0019%/8h= −2.0% APRpaid last 24h +0.403%

Price spread now: Kraken Futures against Binance+0.105%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1191.185% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.680%+$68 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.105%, 7d avg +0.089%

Together, before fees+0.583%+$58 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.089%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.680%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SNXUSDT	0.2388	0.0100	pay 0.0100% / 8h	5h 14m	$2.9M	$4.0M	75x
Short	Kraken Futures PF_SNXUSD	0.2391	0.0081	get 0.0010% / 1h	14m 26s	$143K	$59K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.105%Rate

Funding earned: −$3.92
Price spread: +0.105% → +0.089%: $1.53
Slippage, 4 orders: −$98.53
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$120.92
Costs to cover: 1.185%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Kraken Futures: live order book, 48 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 Binance live order book, 7 min ago	2.08 bp	23.9 bp −$24	89.5 bp −$895	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 48 min ago	10.38 bp	33.3 bp −$33	79.3 bp −$793	doesn't fit	doesn't fit

SNX 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
Injective SNX/USDC PERP	−0.5000%	1h	0.2247	−5.905%	$23K	$29K	12x	as long as short
Kraken Futures PF_SNXUSDshort	+0.0081%	1h	0.2391	+0.105%	$143K	$59K	25x
Hyperliquid SNX	+0.0100%	1h	0.2389	+0.050%	$439K	$153K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2389	+0.048%	$4K	$3K	5x	as long as short
Binance SNXUSDTlong	+0.0100%	8h	0.2388	long leg	$2.9M	$4.0M	75x
Bybit SNXUSDT	+0.0100%	8h	0.2387	−0.042%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2385	−0.126%	$822K	$1.2M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2385	−0.126%	$238K	$95K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2387	−0.042%	$1.7M	$698K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2388	0.000%	$719K	$2.0M	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNXUSDT	+0.0100%	8h	0.2387	−0.042%	$1.1M	$390K	50x	as long as short
BingX SNX-USDT	+0.0100%	8h	0.2388	0.000%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2393	+0.211%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2383	−0.209%	$2K	$1.4M	20x	as long as short
BloFin SNX-USDT	+0.0129%	8h	0.2388	0.000%	$152K	$68K	75x	as long as short