Funding you earn now, next payment 00:00 UTC−0.1277%/8h= −139.8% APRpaid last 24h +0.142%
Price spread now: Kraken Futures against BingX+0.167%7-day average +0.130% · you sell dearer than you buy
Net, funding: paid 7d − costs−$109as in the Funding arb table
Net, price: spread back to 7d avg − costs−$168as in the Price arb table
costs, in and out, $10k−$1721.718% of the position
Funding, last 7 days+0.628%+$63 on $10k
+Price spread, last 3 days (all we have)−0.193%−$19 · spread now +0.167%, 7d avg +0.130%
=The price spread pays, funding is against you. Kraken Futures is 0.037% dearer against BingX than usual: you sell high and buy low (spread +0.167% now, against its 7-day average of +0.130%): +$4 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 2 hours. Mind the row above: over the last 7 days funding on this pair paid +0.628%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.628% in total (about 32.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX SPX-USDT | 0.5055 | 0.0100 | pay 0.0050% / 4h | 5m 21s | — | $6.9M | — |
| Short | Kraken Futures PF_SPXUSD | 0.5063 | −0.1177 | pay 0.0147% / 1h | 5m 21s | $241K | $555K | 20x |
BingX SPX-USDT
Kraken Futures PF_SPXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BingX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$268.19
- Price spread: +0.167% → +0.130%
- $3.74
- Slippage, 4 orders
- −$151.79
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$436.24
- Costs to cover
- 1.718%
- Break-even
- never at this rate
Slippage from BingX: live order book, 7 min ago; Kraken Futures: 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 BingX live order book, 7 min ago | 6.94 bp | 22.1 bp −$22 | 50.3 bp −$503 | 390.1 bp −$39.0K | 1227.6 bp −$613.8K |
| Sell Kraken Futures live order book, 8 min ago | 30.70 bp | 47.7 bp −$48 | 142.9 bp −$1,429 | doesn't fit | doesn't fit |
SPX on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SPXUSDshort | −0.1177% | 1h | 0.5063 | +0.167% | $241K | $555K | 20x | |
| Variational Omni SPX | +0.0017% | 4h | 0.5042 | −0.251% | $837K | $1.3M | — | as long as short |
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −1.503% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5058 | +0.055% | $116K | $319K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5057 | +0.040% | $9.9M | $7.7M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5060 | +0.101% | $128K | $110K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5055 | −0.003% | $5.0M | $21.1M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5049 | −0.119% | $11.5M | $16.1M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5051 | −0.079% | $961K | $2.8M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5053 | −0.040% | $1.0M | $506K | 50x | as long as short |
Variational Omni SPX
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPX_USDT | +0.0100% | 4h | 0.5054 | −0.020% | $11.2M | $4.7M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5054 | −0.020% | $3.7M | $5.3M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5057 | +0.040% | $2.6M | $1.4M | 50x | as long as short |
| BingX SPX-USDTlong | +0.0100% | 4h | 0.5055 | long leg | — | $6.9M | — | |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5054 | −0.020% | $45K | $245K | 25x | as long as short |
| Orderly PERP_SPX_USDC | +0.0100% | 4h | 0.5064 | +0.178% | $20K | $711 | 10x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5044 | −0.218% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5058 | +0.050% | $34K | $228K | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5060 | +0.099% | $247K | $996K | 75x | as long as short |
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDT
ApeX Omni SPXUSDT
Orderly PERP_SPX_USDC
SunX SPX-USDT
Extended SPX-USD
BloFin SPX-USDT