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: BingX against Kraken Futures−0.101%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1021.020% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.250%−$25 on $10k

Price spread, last 3 days (all we have)−0.112%−$11 · spread now −0.101%, 7d avg −0.072%

Together, before fees−0.362%−$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.028% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.101% now, against its 7-day average of −0.072%). If the spread goes back, that is −$3 on $10k: about 9 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 7 days funding on this pair cost −0.250%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TIAUSD	0.4363	−0.0163	get 0.0020% / 1h	14m 34s	$359K	$246K	50x
Short	BingX TIA-USDC	0.4359	0.0100	get 0.0050% / 4h	14m 34s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.101%Rate

Funding earned: $55.23
Price spread: −0.101% → −0.072%: −$2.81
Slippage, 4 orders: −$81.96
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$49.54
Costs to cover: 1.020%
Break-even: 13.3 days

Slippage from Kraken Futures: live order book, 63 min ago; BingX: live order book, 6 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, 63 min ago	14.99 bp	24.6 bp −$25	54.1 bp −$541	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	3.44 bp	26.2 bp −$26	62.4 bp −$624	451.6 bp −$45.2K	766.9 bp −$383.4K

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
OKX TIA-USDT-SWAP	−0.0192%	4h	0.4355	−0.192%	$2.8M	$6.0M	50x	as long as short
Kraken Futures PF_TIAUSDlong	−0.0163%	1h	0.4363	long leg	$359K	$246K	50x
KuCoin TIAUSDTM	−0.0026%	4h	0.4362	−0.032%	$4.2M	$8.7M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4364	+0.014%	$30K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4365	+0.043%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0005%	1h	0.4358	−0.124%	$49K	$235K	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4367	+0.092%	$139K	$362K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4363	−0.009%	$5K	$363K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4368	+0.113%	$4.3M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4364	+0.009%	$34K	$268K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TIAUSDT	+0.0100%	4h	0.4360	−0.071%	$14.5M	$42.4M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4358	−0.124%	$9.5M	$13.2M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4361	−0.055%	$979K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4362	−0.032%	$13.3M	$6.8M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4359	−0.101%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDCshort	+0.0100%	4h	0.4359	−0.101%	—	$6.5M	—
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4364	+0.003%	$101K	$153K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4364	+0.011%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4359	−0.101%	$65K	$44K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4357	−0.148%	$55K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4363	−0.011%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4356	−0.159%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0208%	1h	0.4389	+0.587%	$51K	$77K	50x	as long as short
Injective TIA/USDC PERP	+0.0210%	1h	0.4360	−0.078%	$26K	$10K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4361	−0.055%	$1.2M	$576K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0459% / S −0.3505%	1h	0.4364	+0.025%	$36K	—	100x	as long as short
dYdX TIA-USD	+0.0728%	1h	0.4367	+0.083%	$52K	$59	10x	as long as short