Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0903%/8h= −98.9% APRpaid last 24h −0.258%

Price spread now: BloFin against Kraken Futures+0.043%57s7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$194as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1241.241% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.698%−$70 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.043%, 7d avg −0.092%

Together, before fees−0.627%−$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.135% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.092%): +$13 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.698% in total) that is about 32 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SNXUSD	0.2348	0.0983	pay 0.0123% / 1h	20m 03s	$142K	$61K	25x
Short	BloFin SNX-USDT	0.2349	0.0080	get 0.0080% / 8h	6h 20m	$152K	$67K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$189.71
Price spread: +0.043% → −0.092%: $13.47
Slippage, 4 orders: −$102.1
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$300.33
Costs to cover: 1.241%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 30 min ago; BloFin: live order book, 24 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, 30 min ago	12.77 bp	52.7 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 24 min ago	6.39 bp	26.7 bp −$27	56.8 bp −$568	310.4 bp −$31.0K	doesn't fit

SNX on 15 exchanges

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	0.2355	+0.298%	$23K	$30K	12x	as long as short
BloFin SNX-USDTshort	+0.0080%	8h	0.2349	+0.043%	$152K	$67K	75x
Hyperliquid SNX	+0.0100%	1h	0.2348	−0.017%	$432K	$139K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2347	−0.030%	$4K	$2K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2347	−0.061%	$2.9M	$4.0M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2346	−0.085%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2345	−0.128%	$844K	$1.1M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2346	−0.085%	$235K	$78K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2346	−0.085%	$1.7M	$658K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2348	0.000%	$667K	$1.6M	30x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNXUSDT	+0.0100%	8h	0.2348	0.000%	$1.1M	$364K	50x	as long as short
BingX SNX-USDT	+0.0100%	8h	0.2347	−0.042%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2348	+0.001%	$12K	$3K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2341	−0.298%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_SNXUSDlong	+0.0983%	1h	0.2348	long leg	$142K	$61K	25x