Funding arb · Price arb /

UMA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2237%/8h= +244.9% APRpaid last 24h +0.436%

Price spread now: Kraken Futures against BingX+0.388%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$67 a day on $10k at the current rate, and Kraken Futures is 0.388% dearer against BingX than usual: you sell high and buy low: +$39 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UMA-USDT	0.4056	0.0100	pay 0.0050% / 4h	27m 03s	—	$2.3M	—
Short	Kraken Futures PF_UMAUSD	0.4072	0.2337	get 0.0292% / 1h	27m 03s	$14K	$6K	10x

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 +0.388%Rate

Funding earned: $469.75
Price spread: +0.388% → 0.000%: $38.81
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $488.56
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 6 min ago; Kraken Futures: no order-book sample. Net counts fees only.

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, 6 min ago	7.42 bp	28.9 bp −$29	102.6 bp −$1,026	1262.1 bp −$126.2K	1467.8 bp −$733.9K
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

UMA on 13 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
Hyperliquid UMA	+0.0100%	1h	0.4055	−0.032%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4052	−0.096%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4052	−0.100%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4055	−0.025%	$672K	$153K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4051	−0.123%	$315K	$242K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4047	−0.222%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4050	−0.148%	$222K	$164K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4052	−0.099%	$156K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4051	−0.123%	$975K	$67K	50x	as long as short
BingX UMA-USDTlong	+0.0100%	4h	0.4056	long leg	—	$2.3M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMA	+0.0100%	4h	0.4051	−0.116%	$5K	$7	—	as long as short
BloFin UMA-USDT	+0.0118%	4h	0.4054	−0.049%	$75K	$8K	50x	as long as short
Kraken Futures PF_UMAUSDshort	+0.2337%	1h	0.4072	+0.388%	$14K	$6K	10x