Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1596%/8h= +174.8% APRpaid last 24h +0.899%

Price spread now: Kraken Futures against Binance+0.063%7-day average +0.165% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,740as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,789as in the Price arb table

costs, in and out, $10k−$1,77917.789% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.393%+$39 on $10k

Price spread, last 4 days (all we have)+0.252%+$25 · spread now +0.063%, 7d avg +0.165%

Together, before fees+0.646%+$65 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.102% cheaper against Binance than usual: you would sell low and buy high (spread +0.063% now, against its 7-day average of +0.165%). If the spread goes back, that is −$10 on $10k: about 5 hours of funding at the current rate (+$48 a day). At the pace of the last 7 days (+0.393% in total) that is about 44 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.393% in total (about 20.5% 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	Binance CVXUSDT	2.0430	0.0100	pay 0.0050% / 4h	1h 13m	$1.7M	$2.6M	75x
Short	Kraken Futures PF_CVXUSD	2.0443	0.1696	get 0.0212% / 1h	13m 17s	$118K	$98K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.063%Rate

Funding earned: $335.16
Price spread: +0.063% → +0.165%: −$10.22
Slippage, 4 orders: −$1,758.9
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,453.96
Costs to cover: 17.789%
Break-even: 37.4 days

Slippage from Binance: live order book, 7 min ago; Kraken Futures: live order book, 29 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 Binance live order book, 7 min ago	4.89 bp	21.6 bp −$22	90.9 bp −$909	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 29 min ago	20.12 bp	32.9 bp −$33	doesn't fit	doesn't fit	doesn't fit

CVX 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
Injective CVX/USDC PERP	+0.0033%	1h	1.9790	−3.135%	—	$33K	5.5x	as long as short
Binance CVXUSDTlong	+0.0100%	4h	2.0430	long leg	$1.7M	$2.6M	75x
Bybit CVXUSDT	+0.0100%	4h	2.0465	+0.169%	$1.8M	$752K	75x	as long as short
OKX CVX-USDT-SWAP	+0.0100%	4h	2.0440	+0.047%	$247K	$314K	10x	as long as short
Gate CVX_USDT	+0.0100%	8h	2.0380	−0.247%	$68K	$21K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0420	−0.051%	$2.0M	$499K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0420	−0.051%	$766K	$74K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0410	−0.100%	$616K	$127K	25x	as long as short
BingX CVX-USDT	+0.0100%	4h	2.0430	−0.002%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0473	+0.210%	$5K	$2K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CVX-USDT	+0.0340%	4h	2.0440	+0.047%	$81K	$151K	75x	as long as short
GMX CVX/USD [ETH-USDC]	L +0.0488% / S −0.0194%	1h	2.0417	−0.064%	$168K	—	100x	as long as short
Kraken Futures PF_CVXUSDshort	+0.1696%	1h	2.0443	+0.063%	$118K	$98K	10x