Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0343%/8h= +37.5% APRpaid last 24h +0.356%

Price spread now: Kraken Futures against KuCoin−0.052%7-day average +0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$218as in the Price arb table

costs, in and out, $10k−$2052.053% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.666%+$67 on $10k

Price spread, last 4 days (all we have)+0.190%+$19 · spread now −0.052%, 7d avg +0.074%

Together, before fees+0.856%+$86 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.126% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of +0.074%). If the spread goes back, that is −$13 on $10k: about 29 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SNXUSDTM	0.2376	0.0100	pay 0.0100% / 8h	3h 26m	$672K	$2.0M	30x
Short	Kraken Futures PF_SNXUSD	0.2375	0.0443	get 0.0055% / 1h	26m 57s	$142K	$61K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.052%Rate

Funding earned: $71.98
Price spread: −0.052% → +0.074%: −$12.58
Slippage, 4 orders: −$183.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$145.94
Costs to cover: 2.053%
Break-even: 21.2 days

Slippage from KuCoin: live order book, 4 min ago; Kraken Futures: live order book, 25 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 KuCoin live order book, 4 min ago	4.20 bp	69.5 bp −$70	132.4 bp −$1,324	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 25 min ago	18.81 bp	39.2 bp −$39	97.8 bp −$978	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	0.2236	−5.892%	$23K	$29K	12x	as long as short
BloFin SNX-USDT	+0.0086%	8h	0.2375	−0.042%	$152K	$69K	75x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2379	+0.109%	$434K	$153K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2377	+0.025%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2376	+0.013%	$2.9M	$4.1M	75x	as long as short
Bybit SNXUSDT	+0.0100%	8h	0.2376	0.000%	$1.6M	$1.3M	75x	as long as short
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2375	−0.042%	$849K	$1.2M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2378	+0.084%	$240K	$95K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2375	−0.042%	$1.7M	$717K	100x	as long as short
KuCoin SNXUSDTMlong	+0.0100%	8h	0.2376	long leg	$672K	$2.0M	30x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNXUSDT	+0.0100%	8h	0.2376	0.000%	$1.1M	$357K	50x	as long as short
BingX SNX-USDT	+0.0100%	8h	0.2377	+0.042%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2383	+0.298%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2365	−0.463%	$2K	$1.4M	20x	as long as short
Kraken Futures PF_SNXUSDshort	+0.0443%	1h	0.2375	−0.052%	$142K	$61K	25x