Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.5451%/8h= −596.9% APRpaid last 24h +0.764%

Price spread now: Kraken Futures against BingX+0.067%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

The price spread pays, funding is against you. Kraken Futures is 0.067% dearer against BingX than usual: you sell high and buy low (spread +0.067% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$164 a day in funding at the current rate, which eats that in about under an hour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX INIT-USDT	0.08347	0.0100	pay 0.0050% / 4h	3h 50m	—	$6.6M	—
Short	Kraken Futures PF_INITUSD	0.08353	−0.5351	pay 0.0669% / 1h	50m 09s	$5K	$24K	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 +0.067%Rate

Funding earned: −$1,144.73
Price spread: +0.067% → 0.000%: $6.71
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,158.02
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 2 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, 2 min ago	7.78 bp	38.1 bp −$38	116.0 bp −$1,160	552.2 bp −$55.2K	798.7 bp −$399.4K
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.

INIT 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_INITUSDshort	−0.5351%	1h	0.08353	+0.067%	$5K	$24K	10x
BloFin INIT-USDT	+0.0082%	4h	0.08355	+0.096%	$153K	$113K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08357	+0.126%	$312K	$239K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08361	+0.163%	$28K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08361	+0.165%	$3.4M	$4.0M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08344	−0.036%	$1.5M	$1.6M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08361	+0.168%	$142K	$717K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08358	+0.132%	$82K	$57K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08359	+0.144%	$449K	$209K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08372	+0.300%	$324K	$62K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget INITUSDT	+0.0100%	4h	0.08358	+0.132%	$431K	$333K	25x	as long as short
BingX INIT-USDTlong	+0.0100%	4h	0.08347	long leg	—	$6.6M	—
Variational Omni INIT	+0.0100%	4h	0.08342	−0.059%	$26K	$23K	—	as long as short