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: BingX against Kraken Futures−0.063%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1151.153% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.662%−$66 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.063%, 7d avg −0.087%

Together, before fees−0.618%−$62 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BingX is 0.024% dearer against Kraken Futures than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.087%. Mind the row above: over the last 7 days funding on this pair cost −0.662%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SNXUSD	0.2391	0.0081	pay 0.0010% / 1h	14m 57s	$143K	$59K	25x
Short	BingX SNX-USDT	0.2389	0.0100	get 0.0100% / 8h	5h 14m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.063%Rate

Funding earned: $3.92
Price spread: −0.063% → −0.087%: $2.38
Slippage, 4 orders: −$95.33
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$109.03
Costs to cover: 1.153%
Break-even: 201.8 days

Slippage from Kraken Futures: live order book, 47 min ago; BingX: live order book, 9 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, 47 min ago	10.38 bp	40.9 bp −$41	227.6 bp −$2,276	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	4.18 bp	18.6 bp −$19	60.4 bp −$604	600.3 bp −$60.0K	1178.4 bp −$589.2K

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	−6.003%	$23K	$29K	12x	as long as short
Kraken Futures PF_SNXUSDlong	+0.0081%	1h	0.2391	long leg	$143K	$59K	25x
Hyperliquid SNX	+0.0100%	1h	0.2390	−0.004%	$439K	$153K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2389	−0.042%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2389	−0.044%	$2.9M	$4.0M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2388	−0.105%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2386	−0.188%	$822K	$1.2M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2386	−0.188%	$238K	$95K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2388	−0.105%	$1.7M	$698K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2390	−0.021%	$720K	$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	0.2388	−0.105%	$1.1M	$390K	50x	as long as short
BingX SNX-USDTshort	+0.0100%	8h	0.2389	−0.063%	—	$2.3M	—
Variational Omni SNX	+0.0100%	8h	0.2393	+0.106%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2383	−0.314%	$2K	$1.4M	20x	as long as short
BloFin SNX-USDT	+0.0129%	8h	0.2388	−0.105%	$152K	$68K	75x	as long as short