Funding you earn now, next payment 08:00 UTC−0.1218%/8h= −133.4% APRpaid last 24h −0.197%
Price spread now: BingX against Kraken Futures−0.358%7-day average −0.168% · you buy dearer than you sell
Net, funding: paid 7d − costs−$2,693as in the Funding arb table
Net, price: spread back to 7d avg − costs−$2,693as in the Price arb table
costs, in and out, $10k−$2,67426.743% of the position
Funding, last 7 days−0.191%−$19 on $10k
+Price spread, last 4 days (all we have)+0.430%+$43 · spread now −0.358%, 7d avg −0.168%
=Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and BingX is 0.190% cheaper against Kraken Futures than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.168%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.191% in total (about -9.9% 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_WUSD | 0.01182 | 0.1318 | pay 0.0165% / 1h | 52m 22s | $147K | $145K | 20x |
| Short | BingX W-USDT | 0.01178 | 0.0100 | get 0.0050% / 4h | 52m 22s | — | $6.7M | — |
Kraken Futures PF_WUSD
BingX W-USDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$255.85
- Price spread: −0.358% → −0.168%
- −$19.02
- Slippage, 4 orders
- −$2,654.26
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$2,949.13
- Costs to cover
- 26.743%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 50 min ago; BingX: live order book, 15 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, 50 min ago | 35.21 bp | 2583.0 bp −$2,583 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 15 min ago | 4.66 bp | 24.5 bp −$25 | 59.8 bp −$598 | 524.6 bp −$52.5K | 1066.7 bp −$533.3K |
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | 0.0000% | 1h | 0.01180 | −0.180% | $14K | $4K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.247% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01181 | −0.121% | $2.0M | $275K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01180 | −0.192% | $3.0M | $5.3M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01177 | −0.426% | $4.1M | $1.6M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01179 | −0.307% | $1.3M | $1.5M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01175 | −0.595% | $427K | $232K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01179 | −0.256% | $12.3M | $1.3M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01178 | −0.375% | $388K | $192K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01179 | −0.290% | $1.3M | $568K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDTshort | +0.0100% | 4h | 0.01178 | −0.358% | — | $6.7M | — | |
| Backpack W_USDC_PERP | +0.0100% | 1h | 0.01181 | −0.146% | $44K | $40K | 15x | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01173 | −0.786% | $71K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01178 | −0.396% | $124K | $383K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01180 | −0.221% | $60K | $305K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0384% | 1h | 0.01196 | +1.156% | $14K | $13K | 50x | as long as short |
| Kraken Futures PF_WUSDlong | +0.1318% | 1h | 0.01182 | long leg | $147K | $145K | 20x |
Backpack W_USDC_PERP
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX