Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0255%/8h= −27.9% APRpaid last 24h −0.371%

Price spread now: Gate against Kraken Futures−0.014%7-day average −0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$293as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$2262.263% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.663%−$66 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.014%, 7d avg −0.131%

Together, before fees−0.647%−$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.117% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.131%): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SNXUSD	0.2373	0.0355	pay 0.0044% / 1h	27m 19s	$142K	$60K	25x
Short	Gate SNX_USDT	0.2373	0.0100	get 0.0100% / 8h	4h 27m	$239K	$96K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.014%Rate

Funding earned: −$53.54
Price spread: −0.014% → −0.131%: $11.72
Slippage, 4 orders: −$201.31
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$268.13
Costs to cover: 2.263%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 30 min ago; Gate: 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	6.34 bp	48.2 bp −$48	214.8 bp −$2,148	doesn't fit	doesn't fit
Sell Gate live order book, 24 min ago	4.25 bp	88.1 bp −$88	276.5 bp −$2,765	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	0.2233	−5.913%	$23K	$29K	12x	as long as short
BloFin SNX-USDT	+0.0085%	8h	0.2373	−0.014%	$151K	$68K	75x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2374	+0.041%	$433K	$155K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2374	+0.038%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2373	−0.014%	$2.9M	$4.2M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2373	−0.014%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2370	−0.141%	$845K	$1.3M	20x	as long as short
Gate SNX_USDTshort	+0.0100%	8h	0.2373	−0.014%	$239K	$96K	25x
MEXC SNX_USDT	+0.0100%	8h	0.2372	−0.056%	$1.7M	$717K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2374	+0.028%	$669K	$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	0.2375	+0.070%	$1.1M	$394K	50x	as long as short
BingX SNX-USDT	+0.0100%	8h	0.2375	+0.070%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2375	+0.074%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2365	−0.351%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_SNXUSDlong	+0.0355%	1h	0.2373	long leg	$142K	$60K	25x