Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1844%/8h= +202.0% APRpaid last 24h +0.921%

Price spread now: Kraken Futures against BingX−0.056%7-day average — · you buy dearer than you sell

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

Funding pays, the price is against you. Kraken Futures is 0.056% cheaper against BingX than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2 hours of funding at the current rate (+$55 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX NOT-USDC	0.0005032	0.0100	pay 0.0050% / 4h	1h 00m	—	$731K	—
Short	Kraken Futures PF_NOTUSD	0.0005029	0.1944	get 0.0243% / 1h	0m 23s	$49K	$7K	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 −0.056%Rate

Funding earned: $387.33
Price spread: −0.056% → 0.000%: −$5.59
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $361.74
Costs to cover: 0.200%
Break-even: 0.5 days

Slippage unknown: BingX: live order book, 73 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, 73 min ago	4.98 bp	143.4 bp −$143	doesn't fit	doesn't fit	doesn't fit
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.

NOT on 16 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
Variational Omni NOT	−0.0014%	4h	0.0005022	−0.206%	$71K	$38K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.140%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0093%	4h	0.0005034	+0.040%	$109K	$18K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005041	+0.181%	$11K	$6K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005030	−0.040%	$338K	$64K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005030	−0.044%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005030	−0.040%	$2.1M	$2.9M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005024	−0.159%	$2.1M	$817K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005033	+0.020%	$640K	$658K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005030	−0.040%	$139K	$57K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005029	−0.060%	$1.4M	$474K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005024	−0.159%	$479K	$131K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005035	+0.060%	$675K	$453K	50x	as long as short
BingX NOT-USDClong	+0.0100%	4h	0.0005032	long leg	—	$731K	—
Extended kNOT-USD	+0.0104%	1h	0.0005029	−0.068%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSDshort	+0.1944%	1h	0.0005029	−0.056%	$49K	$7K	10x