Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0069%/8h= +7.5% APRpaid last 24h +0.013%

Price spread now: Kraken Futures against BingX+0.079%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$210.209% 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+0.049%+$5 on $10k

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 +$2 a day on $10k at the current rate, and Kraken Futures is 0.079% dearer against BingX than usual: you sell high and buy low: +$8 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 BTC-USDT	86,021.7	0.0053	pay 0.0053% / 8h	7h 04m	—	$1.57B	—
Short	Kraken Futures PF_XBTUSD	86,090	0.0122	get 0.0015% / 1h	4m 01s	$190.1M	$954.0M	100x

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 +0.079%Rate

Funding earned: $14.39
Price spread: +0.079% → 0.000%: $7.94
Slippage, 4 orders: −$0.91
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $1.42
Costs to cover: 0.209%
Break-even: 6.3 days

Slippage from BingX: live order book, 5 min ago; Kraken Futures: live order book, 5 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, 5 min ago	0.02 bp	5.1 bp −$5	5.2 bp −$52	5.4 bp −$543	5.9 bp −$2,929
Sell Kraken Futures live order book, 5 min ago	0.06 bp	5.5 bp −$5	5.7 bp −$57	5.8 bp −$579	7.1 bp −$3,526

BTC on 56 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
Phoenix BTC	−0.0129%	1h	86,215	+0.225%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,129	+0.125%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	86,111.1	+0.104%	$363K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	86,144.7	+0.143%	$518K	$21.2M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,126.9	+0.122%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,365	+0.399%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0023%	1h	86,108.9	+0.101%	$16.9M	$20.5M	50x	as long as short
Aster BTCUSDT	+0.0031%	8h	86,080.7	+0.069%	$499.1M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0044%	8h	86,012.3	−0.011%	$826.7M	$715.8M	125x	as long as short
Reya BTCRUSDPERP	+0.0050%	1h	86,101.2	+0.092%	$6.7M	$145.8M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0052%	1h	86,122.8	+0.118%	$8.2M	$42.4M	25x	as long as short
BingX BTC-USDTlong	+0.0053%	8h	86,021.7	long leg	—	$1.57B	—
HTX BTC-USDT	+0.0056%	8h	86,045.8	+0.028%	$2.28B	$959.1M	200x	as long as short
Bitget BTCUSDT	+0.0066%	8h	86,013.1	−0.010%	$2.96B	$5.06B	150x	as long as short
Phemex BTCUSDT	+0.0066%	8h	86,057.3	+0.041%	$155.2M	$473.2M	150x	as long as short
SoDEX BTC-USD	+0.0069%	1h	86,066	+0.051%	$60.3M	$338.3M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,069.6	+0.056%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,021.3	0.000%	$9.36B	$24.29B	150x	as long as short
MEXC BTC_USDT	+0.0083%	8h	86,008.5	−0.015%	$5.10B	$5.77B	500x	as long as short
Bluefin BTC-PERP	+0.0087%	1h	86,118	+0.112%	$144K	$666K	40x	as long as short
Gate BTC_USDT	+0.0095%	8h	86,022.3	+0.001%	$5.76B	$10.68B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,076.1	+0.063%	$170.0M	$997.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,057.6	+0.042%	$23.5M	$152.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,113	+0.106%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,091	+0.081%	$201K	$7.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,165	+0.167%	$4.2M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,113.4	+0.107%	$21.8M	$225.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,078	+0.065%	$3.77B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,156.6	+0.157%	$40.8M	$560.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,027.6	+0.007%	$5.24B	$9.66B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,956.5	−0.076%	$2.55B	$12.39B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,120	+0.114%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,134.1	+0.131%	$7.3M	$95.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,014	−0.009%	$35.4M	$161.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,079.3	+0.067%	$156.4M	$555.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,114.1	+0.107%	$278.1M	$940.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,175.4	+0.179%	$216.3M	$165.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,194.2	+0.201%	$141.1M	$320.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,069.2	+0.055%	$30.5M	$206.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,148.9	+0.148%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,112	+0.105%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,116.5	+0.110%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,080.1	+0.068%	$2.4M	$9.1M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,088.5	+0.078%	$30.2M	$57.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,047.1	+0.030%	$3.3M	$5.4M	100x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,141.5	+0.139%	$581.0M	$76.4M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,046	+0.028%	$46.0M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,080.4	+0.068%	—	$99.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,084.4	+0.073%	$132.2M	$5.27B	50x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0122%	1h	86,090	+0.079%	$190.1M	$954.0M	100x
Hibachi BTC/USDT-P	+0.0128%	1h	86,108.8	+0.101%	$724K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0169%	1h	86,174.5	+0.178%	$77K	$217K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0182%	1h	86,111.8	+0.105%	$902.8M	$1.51B	50x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,079.9	+0.068%	$415.6M	$640.3M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,114	+0.107%	$10.2M	$766.1M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,121.5	+0.116%	$14.5M	—	200x	as long as short