Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0025%/8h= −2.8% APRpaid last 24h −0.067%

Price spread now: Kraken Futures against BingX−0.096%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$890.892% 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+0.248%+$25 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.096% cheaper against BingX than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.248%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TIA-USDC	0.4421	0.0100	pay 0.0050% / 4h	1h 36m	—	$6.5M	—
Short	Kraken Futures PF_TIAUSD	0.4417	0.0075	get 0.0009% / 1h	36m 55s	$361K	$206K	50x

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 −0.096%Rate

Funding earned: −$5.33
Price spread: −0.096% → 0.000%: −$9.59
Slippage, 4 orders: −$69.2
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$104.13
Costs to cover: 0.892%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Kraken Futures: live order book, 26 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	3.41 bp	21.1 bp −$21	59.4 bp −$594	425.1 bp −$42.5K	698.8 bp −$349.4K
Sell Kraken Futures live order book, 26 min ago	15.88 bp	28.8 bp −$29	76.6 bp −$766	doesn't fit	doesn't fit

TIA on 27 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
Bybit TIAUSDT	−0.0029%	4h	0.4413	−0.181%	$9.5M	$13.3M	50x	as long as short
ApeX Omni TIAUSDT	−0.0019%	1h	0.4407	−0.317%	$50K	$231K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4419	−0.045%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4418	−0.072%	$1K	—	150x	as long as short
KuCoin TIAUSDTM	+0.0008%	4h	0.4413	−0.181%	$4.2M	$9.0M	50x	as long as short
OKX TIA-USDT-SWAP	+0.0043%	4h	0.4415	−0.136%	$2.8M	$6.1M	50x	as long as short
Variational Omni TIA	+0.0067%	4h	0.4404	−0.393%	$103K	$84K	—	as long as short
Kraken Futures PF_TIAUSDshort	+0.0075%	1h	0.4417	−0.096%	$361K	$206K	50x
Lighter TIA	+0.0096%	1h	0.4424	+0.059%	$157K	$415K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4428	+0.154%	$4.7M	$1.6M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4415	−0.133%	$32K	$246K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4421	+0.007%	$14.5M	$42.6M	75x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4422	+0.023%	$995K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4417	−0.090%	$12.3M	$6.5M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4417	−0.090%	$4.5M	$3.4M	75x	as long as short
BingX TIA-USDClong	+0.0100%	4h	0.4421	long leg	—	$6.5M	—
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4422	+0.023%	$102K	$155K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0100%	4h	0.4416	−0.113%	$5K	$317K	10x	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4420	−0.023%	$59K	$74K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4413	−0.174%	$56K	$213K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4417	−0.090%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4416	−0.118%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0198%	1h	0.4410	−0.249%	$52K	$199	10x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4409	−0.271%	$1.4M	$707K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0376%	1h	0.4430	+0.204%	$52K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0494% / S −0.1196%	1h	0.4418	−0.076%	$40K	—	100x	as long as short
Injective TIA/USDC PERP	+0.0496%	1h	0.4411	−0.226%	$26K	$10K	12x	as long as short