Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.5044%/8h= −552.4% APRpaid last 24h −0.747%

Price spread now: OKX against Kraken Futures−0.240%55s7-day average −0.144% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,750as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1,72917.291% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now −0.240%, 7d avg −0.144%

Together, before fees−0.303%−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$151 a day on $10k at the current rate, and OKX is 0.096% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.144%). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.207% in total (about -10.8% 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_CVXUSD	2.0549	0.5144	pay 0.0643% / 1h	15m 23s	$124K	$94K	10x
Short	OKX CVX-USDT-SWAP	2.0500	0.0100	get 0.0050% / 4h	3h 15m	$249K	$315K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.240%Rate

Funding earned: −$1,059.33
Price spread: −0.240% → −0.144%: −$9.59
Slippage, 4 orders: −$1,709.09
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$2,798.01
Costs to cover: 17.291%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 37 min ago; OKX: live order book, 35 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 Kraken Futures live order book, 37 min ago	34.34 bp	1595.0 bp −$1,595	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 35 min ago	4.86 bp	39.2 bp −$39	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	−3.696%	—	$33K	5.5x	as long as short
Binance CVXUSDT	+0.0100%	4h	2.0500	−0.240%	$1.7M	$2.6M	75x	as long as short
Bybit CVXUSDT	+0.0100%	4h	2.0529	−0.099%	$1.8M	$722K	75x	as long as short
OKX CVX-USDT-SWAPshort	+0.0100%	4h	2.0500	−0.240%	$249K	$315K	10x
Gate CVX_USDT	+0.0100%	8h	2.0520	−0.143%	$69K	$23K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0500	−0.240%	$2.1M	$525K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0540	−0.046%	$814K	$70K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0530	−0.094%	$621K	$128K	25x	as long as short
BingX CVX-USDT	+0.0100%	4h	2.0530	−0.094%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0510	−0.192%	$6K	$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	2.0510	−0.192%	$82K	$150K	75x	as long as short
GMX CVX/USD [ETH-USDC]	L +0.0489% / S −0.0195%	1h	2.0482	−0.329%	$169K	—	100x	as long as short
Kraken Futures PF_CVXUSDlong	+0.5144%	1h	2.0549	long leg	$124K	$94K	10x