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: KuCoin against Kraken Futures+0.107%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$253as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$1881.875% of the position

Long on Kraken Futures Short on KuCoin

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)−0.167%−$17 · spread now +0.107%, 7d avg −0.076%

Together, before fees−0.821%−$82 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.183% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of −0.076%): +$18 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.654% in total) that is about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SNXUSD	0.2397	0.0109	pay 0.0014% / 1h	43m 11s	$144K	$58K	25x
Short	KuCoin SNXUSDTM	0.2400	0.0100	get 0.0100% / 8h	6h 43m	$727K	$2.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.107%Rate

Funding earned: −$1.99
Price spread: +0.107% → −0.076%: $18.31
Slippage, 4 orders: −$165.51
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$171.19
Costs to cover: 1.875%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 24 min ago; KuCoin: live order book, 8 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, 24 min ago	6.22 bp	38.3 bp −$38	227.2 bp −$2,272	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	8.35 bp	57.6 bp −$58	132.2 bp −$1,322	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	−5.983%	$23K	$29K	12x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2402	+0.182%	$442K	$153K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2400	+0.125%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2400	+0.119%	$2.8M	$4.0M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2399	+0.066%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2395	−0.101%	$776K	$1.1M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2394	−0.143%	$239K	$94K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2400	+0.107%	$1.7M	$693K	100x	as long as short
KuCoin SNXUSDTMshort	+0.0100%	8h	0.2400	+0.107%	$727K	$2.1M	30x
Bitget SNXUSDT	+0.0100%	8h	0.2400	+0.107%	$1.1M	$401K	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	0.2399	+0.066%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2392	−0.242%	$12K	$6K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2394	−0.143%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_SNXUSDlong	+0.0109%	1h	0.2397	long leg	$144K	$58K	25x
BloFin SNX-USDT	+0.0114%	8h	0.2391	−0.268%	$148K	$68K	75x	as long as short