Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0645%/8h= −70.6% APRpaid last 24h −0.187%

Price spread now: SunX against Kraken Futures−0.277%7-day average −0.634% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.696%−$70 on $10k

Price spread, last 4 days (all we have)−0.424%−$42 · spread now −0.277%, 7d avg −0.634%

Together, before fees−1.120%−$112 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.358% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.277% now, against its 7-day average of −0.634%): +$36 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SNXUSD	0.2310	0.0745	pay 0.0093% / 1h	51m 24s	$137K	$65K	25x
Short	SunX SNX-USDT	0.2304	0.0100	get 0.0100% / 8h	4h 51m	$2K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.277%Rate

Funding earned: −$135.39
Price spread: −0.277% → −0.634%: $35.75
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$117.63
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 54 min ago; SunX: live order book, 7 min ago. Net counts fees only.

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, 54 min ago	8.58 bp	32.2 bp −$32	205.4 bp −$2,054	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	503.13 bp	doesn't fit	doesn't fit	doesn't fit	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	+0.0033%	1h	0.2355	+1.931%	$23K	$30K	12x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2310	−0.034%	$424K	$138K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2309	−0.057%	$4K	$2K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2308	−0.104%	$2.9M	$4.0M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2307	−0.147%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2306	−0.190%	$822K	$1.1M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2308	−0.104%	$230K	$76K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2308	−0.104%	$1.8M	$643K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2308	−0.104%	$646K	$1.5M	30x	as long as short
Bitget SNXUSDT	+0.0100%	8h	0.2308	−0.104%	$1.1M	$358K	50x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SNX-USDT	+0.0100%	8h	0.2307	−0.147%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2311	+0.021%	$12K	$3K	—	as long as short
SunX SNX-USDTshort	+0.0100%	8h	0.2304	−0.277%	$2K	$1.5M	20x
BloFin SNX-USDT	+0.0116%	8h	0.2313	+0.113%	$151K	$65K	75x	as long as short
Kraken Futures PF_SNXUSDlong	+0.0745%	1h	0.2310	long leg	$137K	$65K	25x