Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0440%/8h= −48.1% APRpaid last 24h +0.445%

Price spread now: Kraken Futures against BingX+0.092%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$980.983% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.659%+$66 on $10k

Price spread, last 3 days (all we have)+0.019%+$2 · spread now +0.092%, 7d avg +0.089%

Together, before fees+0.678%+$68 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: −$13 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.659%, 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	BingX SNX-USDT	0.2405	0.0100	pay 0.0100% / 8h	7h 39m	—	$2.3M	—
Short	Kraken Futures PF_SNXUSD	0.2407	−0.0340	pay 0.0042% / 1h	39m 22s	$145K	$58K	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 +0.092%Rate

Funding earned: −$92.33
Price spread: +0.092% → +0.089%: $0.26
Slippage, 4 orders: −$78.3
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$190.37
Costs to cover: 0.983%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Kraken Futures: live order book, 33 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 BingX live order book, 4 min ago	6.23 bp	25.4 bp −$25	58.6 bp −$586	524.9 bp −$52.5K	954.3 bp −$477.1K
Sell Kraken Futures live order book, 33 min ago	4.18 bp	28.7 bp −$29	89.5 bp −$895	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	0.2262	−5.946%	$23K	$29K	12x	as long as short
Kraken Futures PF_SNXUSDshort	−0.0340%	1h	0.2407	+0.092%	$145K	$58K	25x
Hyperliquid SNX	+0.0100%	1h	0.2405	+0.004%	$446K	$148K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2406	+0.048%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2405	−0.012%	$2.9M	$4.0M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2405	0.000%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2404	−0.042%	$777K	$1.1M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2402	−0.125%	$240K	$97K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2404	−0.042%	$1.8M	$689K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2407	+0.083%	$730K	$2.1M	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	0.2405	0.000%	$1.1M	$395K	50x	as long as short
BingX SNX-USDTlong	+0.0100%	8h	0.2405	long leg	—	$2.3M	—
Variational Omni SNX	+0.0100%	8h	0.2405	−0.015%	$12K	$6K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2396	−0.374%	$2K	$1.4M	20x	as long as short
BloFin SNX-USDT	+0.0119%	8h	0.2404	−0.042%	$149K	$61K	75x	as long as short