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: Bitget against Kraken Futures−0.113%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$174as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

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

Long on Kraken Futures Short on Bitget

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: Bitget is 0.026% cheaper against Kraken Futures than usual: you would sell low and buy high, −$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	Kraken Futures PF_SNXUSD	0.2408	0.0109	pay 0.0014% / 1h	5m 40s	$144K	$58K	25x
Short	Bitget SNXUSDT	0.2405	0.0100	get 0.0100% / 8h	6h 05m	$1.1M	$390K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.113%Rate

Funding earned: −$1.89
Price spread: −0.113% → −0.087%: −$2.61
Slippage, 4 orders: −$86.66
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$113.16
Costs to cover: 1.087%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 62 min ago; Bitget: live order book, just now.

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, 62 min ago	6.22 bp	38.3 bp −$38	227.2 bp −$2,272	doesn't fit	doesn't fit
Sell Bitget live order book, just now	2.08 bp	19.5 bp −$19	81.0 bp −$810	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	−6.177%	$23K	$29K	12x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2408	+0.029%	$443K	$152K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2402	−0.236%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2405	−0.125%	$2.9M	$4.0M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2407	−0.030%	$1.7M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2405	−0.113%	$785K	$1.1M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2401	−0.279%	$240K	$96K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2404	−0.154%	$1.7M	$700K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2405	−0.113%	$723K	$2.1M	30x	as long as short
Bitget SNXUSDTshort	+0.0100%	8h	0.2405	−0.113%	$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	0.2404	−0.154%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2404	−0.151%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2397	−0.445%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_SNXUSDlong	+0.0109%	1h	0.2408	long leg	$144K	$58K	25x