Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h +0.029%

Price spread now: Kraken Futures against BingX+0.219%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$1041.037% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.219%, 7d avg +0.042%

Together, before fees+0.025%+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.177% dearer against BingX than usual: you sell high and buy low (spread +0.219% now, against its 7-day average of +0.042%): +$18 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 16 days. At the pace of the last 7 days (−0.015% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SUSHI-USDT	0.2536	0.0100	pay 0.0100% / 8h	1h 06m	—	$2.5M	—
Short	Kraken Futures PF_SUSHIUSD	0.2542	0.0063	get 0.0008% / 1h	6m 25s	$763K	$61K	20x

Funding 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 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.219%Rate

Funding earned: −$7.76
Price spread: +0.219% → +0.042%: $17.71
Slippage, 4 orders: −$83.71
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$93.76
Costs to cover: 1.037%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Kraken Futures: live order book, 37 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, 13 min ago	5.92 bp	18.1 bp −$18	40.8 bp −$408	712.6 bp −$71.3K	doesn't fit
Sell Kraken Futures live order book, 37 min ago	13.89 bp	30.4 bp −$30	doesn't fit	doesn't fit	doesn't fit

SUSHI 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
Variational Omni SUSHI	+0.0006%	8h	0.2530	−0.255%	$41K	$7K	—	as long as short
Bitget SUSHIUSDT	+0.0010%	8h	0.2537	+0.039%	$1.0M	$736K	50x	as long as short
Injective SUSHI/USDC PERP	+0.0033%	1h	0.2545	+0.355%	$16	$18K	5.5x	as long as short
Kraken Futures PF_SUSHIUSDshort	+0.0063%	1h	0.2542	+0.219%	$763K	$61K	20x
Hyperliquid SUSHI	+0.0100%	1h	0.2539	+0.126%	$335K	$346K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2537	+0.027%	$23K	$15K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2539	+0.103%	$3.9M	$9.4M	75x	as long as short
Bybit SUSHIUSDT	+0.0100%	8h	0.2536	0.000%	$2.6M	$3.0M	75x	as long as short
OKX SUSHI-USDT-SWAP	+0.0100%	8h	0.2538	+0.079%	$1.5M	$3.7M	50x	as long as short
Gate SUSHI_USDT	+0.0100%	8h	0.2537	+0.039%	$574K	$273K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SUSHI_USDT	+0.0100%	8h	0.2537	+0.039%	$1.2M	$284K	75x	as long as short
KuCoin SUSHIUSDTM	+0.0100%	8h	0.2537	+0.039%	$1.2M	$245K	50x	as long as short
BingX SUSHI-USDTlong	+0.0100%	8h	0.2536	long leg	—	$2.5M	—
HTX SUSHI-USDT	+0.0100%	8h	0.2535	−0.039%	$85K	$79K	75x	as long as short
BloFin SUSHI-USDT	+0.0118%	8h	0.2536	0.000%	$205K	$54K	75x	as long as short