Funding you earn now, next payment 06:00 UTC−0.1324%/8h= −145.0% APRpaid last 24h −0.213%
Price spread now: BingX against Kraken Futures−0.204%7-day average −0.121% · you buy dearer than you sell
Net, funding: paid 7d − costs−$236as in the Funding arb table
Net, price: spread back to 7d avg − costs−$180as in the Price arb table
costs, in and out, $10k−$1721.718% of the position
Funding, last 7 days−0.638%−$64 on $10k
+Price spread, last 4 days (all we have)+0.229%+$23 · spread now −0.204%, 7d avg −0.121%
=Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and BingX is 0.083% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.121%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.638% in total (about -33.3% 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 | Kraken Futures PF_SPXUSD | 0.5162 | 0.1424 | pay 0.0178% / 1h | 19m 41s | $252K | $538K | 20x |
| Short | BingX SPX-USDT | 0.5151 | 0.0100 | get 0.0050% / 4h | 2h 19m | — | $6.9M | — |
Kraken Futures PF_SPXUSD
BingX SPX-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$278.08
- Price spread: −0.204% → −0.121%
- −$8.27
- Slippage, 4 orders
- −$151.76
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$458.12
- Costs to cover
- 1.718%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 28 min ago; BingX: live order book, 3 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, 28 min ago | 44.99 bp | 50.0 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 3 min ago | 7.90 bp | 26.8 bp −$27 | 67.9 bp −$679 | 304.3 bp −$30.4K | 1046.0 bp −$523.0K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −3.536% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5160 | −0.030% | $141K | $380K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5153 | −0.169% | $10.5M | $7.9M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5148 | −0.268% | $137K | $130K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5157 | −0.088% | $5.1M | $22.5M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5147 | −0.281% | $11.7M | $17.2M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5151 | −0.204% | $946K | $3.2M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5147 | −0.281% | $1.0M | $607K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5161 | −0.010% | $12.0M | $5.2M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5154 | −0.146% | $3.7M | $5.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPXUSDT | +0.0100% | 4h | 0.5148 | −0.262% | $2.7M | $1.5M | 50x | as long as short |
| BingX SPX-USDTshort | +0.0100% | 4h | 0.5151 | −0.204% | — | $6.9M | — | |
| Variational Omni SPX | +0.0100% | 4h | 0.5076 | −1.655% | $935K | $1.5M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5052 | −2.122% | $26K | $255K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5138 | −0.456% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5147 | −0.291% | $34K | $253K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0180% | 4h | 0.5144 | −0.340% | $20K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5084 | −1.502% | $248K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1424% | 1h | 0.5162 | long leg | $252K | $538K | 20x |
Bitget SPXUSDT
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Orderly PERP_SPX_USDC
BloFin SPX-USDT