Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.434%

Price spread now: Kraken Futures against Bitget+0.113%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$1091.087% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.654%+$65 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now +0.113%, 7d avg +0.087%

Together, before fees+0.624%+$62 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kraken Futures is 0.026% dearer against Bitget than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.087%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SNXUSDT	0.2405	0.0100	pay 0.0100% / 8h	6h 05m	$1.1M	$390K	50x
Short	Kraken Futures PF_SNXUSD	0.2408	0.0109	get 0.0014% / 1h	5m 52s	$144K	$58K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.113%Rate

Funding earned: $1.89
Price spread: +0.113% → +0.087%: $2.62
Slippage, 4 orders: −$86.66
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$104.14
Costs to cover: 1.087%
Break-even: 392.6 days

Slippage from Bitget: live order book, just now; Kraken Futures: live order book, 61 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 Bitget live order book, just now	2.08 bp	25.5 bp −$26	92.2 bp −$922	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 61 min ago	6.22 bp	25.4 bp −$25	78.9 bp −$789	doesn't fit	doesn't fit

SNX on 14 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	0.2259	−6.071%	$23K	$29K	12x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2407	+0.087%	$443K	$152K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2402	−0.130%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2404	−0.054%	$2.9M	$4.0M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2404	−0.042%	$1.7M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2405	0.000%	$785K	$1.1M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2401	−0.166%	$240K	$96K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2403	−0.083%	$1.7M	$700K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2403	−0.083%	$723K	$2.1M	30x	as long as short
Bitget SNXUSDTlong	+0.0100%	8h	0.2405	long leg	$1.1M	$390K	50x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SNX-USDT	+0.0100%	8h	0.2403	−0.083%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2404	−0.038%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2397	−0.333%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_SNXUSDshort	+0.0109%	1h	0.2408	+0.113%	$144K	$58K	25x