Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0341%/8h= +37.4% APRpaid last 24h +0.356%

Price spread now: Kraken Futures against Bybit+0.138%7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1541.539% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.666%+$67 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.138%, 7d avg +0.108%

Together, before fees+0.682%+$68 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.030% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SNXUSDT	0.2379	0.0100	pay 0.0100% / 8h	3h 31m	$1.7M	$1.3M	75x
Short	Kraken Futures PF_SNXUSD	0.2382	0.0441	get 0.0055% / 1h	31m 06s	$142K	$61K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.138%Rate

Funding earned: $71.69
Price spread: +0.138% → +0.108%: $3
Slippage, 4 orders: −$132.95
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$79.26
Costs to cover: 1.539%
Break-even: 14.7 days

Slippage from Bybit: live order book, 5 min ago; Kraken Futures: live order book, 21 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 Bybit live order book, 5 min ago	2.10 bp	40.4 bp −$40	464.8 bp −$4,648	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 21 min ago	18.81 bp	39.2 bp −$39	97.8 bp −$978	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	0.2235	−6.053%	$23K	$29K	12x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2387	+0.315%	$435K	$153K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2378	−0.057%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2382	+0.141%	$2.9M	$4.1M	75x	as long as short
Bybit SNXUSDTlong	+0.0100%	8h	0.2379	long leg	$1.7M	$1.3M	75x
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2382	+0.126%	$851K	$1.2M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2380	+0.042%	$240K	$95K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2382	+0.126%	$1.7M	$716K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2379	0.000%	$673K	$2.0M	30x	as long as short
Bitget SNXUSDT	+0.0100%	8h	0.2381	+0.084%	$1.1M	$358K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SNX-USDT	+0.0100%	8h	0.2378	−0.042%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2383	+0.172%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2373	−0.252%	$2K	$1.4M	20x	as long as short
BloFin SNX-USDT	+0.0110%	8h	0.2381	+0.084%	$154K	$69K	75x	as long as short
Kraken Futures PF_SNXUSDshort	+0.0441%	1h	0.2382	+0.138%	$142K	$61K	25x