Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2879%/8h= +315.3% APRpaid last 24h −1.171%

Price spread now: BingX against Kraken Futures−0.298%7-day average −0.143% · you buy dearer than you sell

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

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 3 days (all we have)+0.255%+$26 · spread now −0.298%, 7d avg −0.143%

Together, before fees+0.067%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.156% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.298% now, against its 7-day average of −0.143%). If the spread goes back, that is −$16 on $10k: about 4 hours of funding at the current rate (+$86 a day). Mind the row above: over the last 7 days funding on this pair cost −0.188%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.188% in total (about -9.8% 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	Kraken Futures PF_ATHUSD	0.005595	−0.2779	get 0.0347% / 1h	3m 38s	$19K	$106K	10x
Short	BingX ATH-USDT	0.005578	0.0100	get 0.0050% / 4h	3h 03m	—	$21.7M	—

Funding 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 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.298%Rate

Funding earned: $604.62
Price spread: −0.298% → −0.143%: −$15.55
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $569.07
Costs to cover: 0.200%
Break-even: 0.4 days

Slippage unknown: Kraken Futures: live order book, 3 min ago; BingX: live order book, 5 min ago. 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 Kraken Futures live order book, 3 min ago	22.30 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	7.14 bp	36.3 bp −$36	79.3 bp −$793	596.3 bp −$59.6K	938.4 bp −$469.2K

ATH 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
Kraken Futures PF_ATHUSDlong	−0.2779%	1h	0.005595	long leg	$19K	$106K	10x
Variational Omni ATH	−0.0035%	4h	0.005595	+0.014%	$188K	$93K	—	as long as short
dYdX ATH-USD	0.0000%	1h	0.005580	−0.262%	$11K	$57	5x	as long as short
BloFin ATH-USDT	+0.0092%	4h	0.005603	+0.148%	$171K	$69K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005585	−0.173%	$6K	$39K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005576	−0.340%	$3.4M	$4.0M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005565	−0.531%	$4.4M	$2.4M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005571	−0.424%	$711K	$1.2M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005578	−0.298%	$798K	$533K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005580	−0.263%	$9.0M	$586K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005585	−0.173%	$565K	$77K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005573	−0.388%	$1.6M	$866K	25x	as long as short
BingX ATH-USDTshort	+0.0100%	4h	0.005578	−0.298%	—	$21.7M	—