Funding arb · Price arb /

ACE

all ACE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0433%/8h= −47.4% APRpaid last 24h −0.890%

Price spread now: BingX against Kraken Futures+0.216%7-day average −0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$810.805% 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−0.104%−$10 on $10k

Price spread, last 3 days (all we have)−0.518%−$52 · spread now +0.216%, 7d avg −0.114%

Together, before fees−0.622%−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.330% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.216% now, against its 7-day average of −0.114%): +$33 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.104% in total) that is about 22 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.104% in total (about -5.4% 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_ACEUSD	0.1731	0.0533	pay 0.0067% / 1h	29m 39s	$48K	$633K	10x
Short	BingX ACE-USDT	0.1735	0.0100	get 0.0050% / 4h	3h 29m	—	$1.4M	—

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 +0.216%Rate

Funding earned: −$90.97
Price spread: +0.216% → −0.114%: $32.98
Slippage, 4 orders: −$60.52
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$138.51
Costs to cover: 0.805%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 43 min ago; BingX: live order book, 12 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, 43 min ago	6.66 bp	20.4 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	4.03 bp	22.0 bp −$22	58.9 bp −$589	doesn't fit	doesn't fit

ACE 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
Hyperliquid ACE	+0.0100%	1h	0.1734	+0.181%	$401K	$388K	3x	as long as short
Aster ACEUSDT	+0.0100%	4h	0.1733	+0.128%	$27K	$33K	5x	as long as short
Binance ACEUSDT	+0.0100%	4h	0.1734	+0.193%	$8.6M	$18.2M	20x	as long as short
Bybit ACEUSDT	+0.0100%	4h	0.1735	+0.216%	$2.5M	$2.6M	25x	as long as short
MEXC ACE_USDT	+0.0100%	4h	0.1734	+0.181%	$14.0M	$789K	20x	as long as short
KuCoin ACEUSDTM	+0.0100%	4h	0.1735	+0.245%	$2.0M	$522K	20x	as long as short
Bitget ACEUSDT	+0.0100%	4h	0.1736	+0.297%	$1.6M	$2.2M	10x	as long as short
BingX ACE-USDTshort	+0.0100%	4h	0.1735	+0.216%	—	$1.4M	—
Variational Omni ACE	+0.0100%	4h	0.1733	+0.122%	$116K	$44K	—	as long as short
HTX ACE-USDT	+0.0100%	4h	0.1728	−0.160%	$16K	$124K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ACE-USDT	+0.0119%	4h	0.1731	+0.037%	$458K	$70K	20x	as long as short
Kraken Futures PF_ACEUSDlong	+0.0533%	1h	0.1731	long leg	$48K	$633K	10x
Gate ACE_USDT	+0.0886%	4h	0.1735	+0.239%	$1.1M	$1.8M	25x	as long as short