Funding arb · Price arb /

AIXBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1629%/8h= +178.4% APRpaid last 24h +0.235%

Price spread now: BingX against Kraken Futures+0.061%53s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on BingX

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

Both sides work for this trade now. Funding pays +$49 a day on $10k at the current rate, and BingX is 0.061% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AIXBTUSD	0.02297	−0.1529	get 0.0191% / 1h	4m 31s	$19K	$7K	10x
Short	BingX AIXBT-USDT	0.02298	0.0100	get 0.0050% / 4h	3h 04m	—	$6.6M	—

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 +0.061%Rate

Funding earned: $342.07
Price spread: +0.061% → 0.000%: $6.14
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $328.21
Costs to cover: 0.200%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 2 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell BingX live order book, 2 min ago	2.18 bp	19.5 bp −$19	90.7 bp −$907	702.3 bp −$70.2K	doesn't fit

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.

AIXBT on 14 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_AIXBTUSDlong	−0.1529%	1h	0.02297	long leg	$19K	$7K	10x
Variational Omni AIXBT	−0.0063%	4h	0.02293	−0.175%	$101K	$11K	—	as long as short
BloFin AIXBT-USDT	+0.0080%	4h	0.02297	+0.018%	$120K	$72K	50x	as long as short
Hyperliquid AIXBT	+0.0100%	1h	0.02303	+0.266%	$390K	$184K	3x	as long as short
Binance AIXBTUSDT	+0.0100%	4h	0.02299	+0.105%	$2.4M	$3.0M	50x	as long as short
Bybit AIXBTUSDT	+0.0100%	4h	0.02296	−0.026%	$1.2M	$973K	25x	as long as short
OKX AIXBT-USDT-SWAP	+0.0100%	4h	0.02300	+0.149%	$476K	$1.5M	20x	as long as short
Gate AIXBT_USDT	+0.0100%	4h	0.02301	+0.192%	$204K	$99K	25x	as long as short
MEXC AIXBT_USDT	+0.0100%	4h	0.02300	+0.149%	$466K	$195K	100x	as long as short
KuCoin AIXBTUSDTM	+0.0100%	4h	0.02300	+0.149%	$1.2M	$1.4M	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AIXBTUSDT	+0.0100%	4h	0.02303	+0.279%	$641K	$471K	20x	as long as short
BingX AIXBT-USDTshort	+0.0100%	4h	0.02298	+0.061%	—	$6.6M	—
GMX AIXBT/USD [ETH-USDC]	L +0.0263% / S −0.0442%	1h	0.02301	+0.201%	$4K	—	100x	as long as short
Reya AIXBTRUSDPERP	+0.0372%	1h	0.02298	+0.077%	—	—	—	as long as short