Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0010%/8h= −1.0% APRpaid last 24h −0.434%

Price spread now: Binance against Kraken Futures+0.027%7-day average −0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1051.046% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.672%−$67 on $10k

Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.027%, 7d avg −0.093%

Together, before fees−0.791%−$79 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.120% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.093%): +$12 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 42 days. At the pace of the last 7 days (−0.672% in total) that is about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SNXUSD	0.2396	0.0110	pay 0.0014% / 1h	48m 52s	$144K	$58K	25x
Short	Binance SNXUSDT	0.2397	0.0100	get 0.0100% / 8h	6h 48m	$2.8M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now +0.027%Rate

Funding earned: −$2
Price spread: +0.027% → −0.093%: $12.02
Slippage, 4 orders: −$84.56
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$94.54
Costs to cover: 1.046%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 18 min ago; Binance: live order book, 3 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 Kraken Futures live order book, 18 min ago	6.22 bp	38.3 bp −$38	227.2 bp −$2,272	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	2.09 bp	23.2 bp −$23	91.4 bp −$914	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	0.2254	−5.943%	$23K	$29K	12x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2397	+0.021%	$441K	$152K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2395	−0.041%	$4K	$3K	5x	as long as short
Binance SNXUSDTshort	+0.0100%	8h	0.2397	+0.027%	$2.8M	$4.0M	75x
Bybit SNXUSDT	+0.0100%	8h	0.2395	−0.059%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2397	+0.025%	$775K	$1.1M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2394	−0.100%	$239K	$94K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2395	−0.059%	$1.7M	$692K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2395	−0.059%	$726K	$2.1M	30x	as long as short
Bitget SNXUSDT	+0.0100%	8h	0.2394	−0.100%	$1.1M	$400K	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	0.2396	−0.017%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2393	−0.158%	$12K	$6K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2391	−0.226%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_SNXUSDlong	+0.0110%	1h	0.2396	long leg	$144K	$58K	25x
BloFin SNX-USDT	+0.0114%	8h	0.2391	−0.226%	$148K	$68K	75x	as long as short