Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0263%/8h= −28.8% APRpaid last 24h −0.077%

Price spread now: Kraken Futures against BingX+0.111%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$740.740% 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+0.249%+$25 on $10k

Price spread, last 3 days (all we have)+0.238%+$24 · spread now +0.111%, 7d avg +0.075%

Together, before fees+0.487%+$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.035% dearer against BingX than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of +0.075%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 11 hours. Mind the row above: over the last 7 days funding on this pair paid +0.249%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TIA-USDT	0.4362	0.0100	pay 0.0050% / 4h	42m 15s	—	$99.1M	—
Short	Kraken Futures PF_TIAUSD	0.4367	−0.0163	pay 0.0020% / 1h	42m 15s	$358K	$245K	50x

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 +0.111%Rate

Funding earned: −$55.21
Price spread: +0.111% → +0.075%: $3.52
Slippage, 4 orders: −$54.04
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$125.73
Costs to cover: 0.740%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; Kraken Futures: 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 BingX live order book, 12 min ago	1.14 bp	8.8 bp −$9	16.4 bp −$164	57.1 bp −$5,712	325.6 bp −$162.8K
Sell Kraken Futures live order book, 35 min ago	14.99 bp	32.6 bp −$33	80.4 bp −$804	doesn't fit	doesn't fit

TIA on 27 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_TIAUSDshort	−0.0163%	1h	0.4367	+0.111%	$358K	$245K	50x
OKX TIA-USDT-SWAP	−0.0146%	4h	0.4360	−0.046%	$2.8M	$6.0M	50x	as long as short
KuCoin TIAUSDTM	−0.0024%	4h	0.4362	0.000%	$4.2M	$8.6M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4364	+0.046%	$30K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4365	+0.075%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0036%	1h	0.4370	+0.183%	$49K	$234K	50x	as long as short
Gate TIA_USDT	+0.0056%	4h	0.4364	+0.046%	$988K	$1.8M	75x	as long as short
Lighter TIA	+0.0096%	1h	0.4369	+0.160%	$139K	$362K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4363	+0.023%	$5K	$363K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4369	+0.149%	$4.3M	$1.5M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4367	+0.110%	$35K	$267K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4366	+0.092%	$14.5M	$42.4M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4361	−0.023%	$9.6M	$13.2M	50x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4362	0.000%	$13.5M	$6.8M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4361	−0.023%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDTlong	+0.0100%	4h	0.4362	long leg	—	$99.1M	—
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4369	+0.170%	$101K	$151K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4373	+0.251%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4365	+0.069%	$65K	$42K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4361	−0.029%	$55K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4363	+0.015%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4360	−0.045%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0208%	1h	0.4389	+0.619%	$51K	$77K	50x	as long as short
Injective TIA/USDC PERP	+0.0210%	1h	0.4377	+0.344%	$27K	$10K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4370	+0.183%	$1.1M	$568K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0459% / S −0.3505%	1h	0.4364	+0.045%	$36K	—	100x	as long as short
dYdX TIA-USD	+0.0606%	1h	0.4372	+0.239%	$52K	$59	10x	as long as short