Funding arb · Price arb /

ATH

all ATH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.3259%/8hpaid last 24h −1.341%

Price spread now: BingX against Kraken Futures+0.105%7-day average −0.164% · 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 7 days−0.263%−$26 on $10k

Price spread, last 3 days (all we have)−0.169%−$17 · spread now +0.105%, 7d avg −0.164%

Together, before fees−0.432%−$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$98 a day on $10k at the current rate, and BingX is 0.270% dearer against Kraken Futures than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of −0.164%. Mind the row above: over the last 7 days funding on this pair cost −0.263%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.263% in total (about -13.7% 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_ATHUSD	0.005416	−0.3159	get 0.0395% / 1h	5m 12s	$19K	$110K	10x
Short	BingX ATH-USDT	0.005422	0.0100	get 0.0050% / 4h	5m 12s	—	$18.8M	—

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 +0.105%Rate

Funding earned: $684.44
Price spread: +0.105% → −0.164%: $26.97
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: $691.41
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 26 min ago; BingX: live order book, 8 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 live order book, 26 min ago	20.33 bp	81.6 bp −$82	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	5.53 bp	26.7 bp −$27	60.0 bp −$600	542.9 bp −$54.3K	953.4 bp −$476.7K

ATH 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
Kraken Futures PF_ATHUSDlong	−0.3159%	1h	0.005416	long leg	$19K	$110K	10x
Variational Omni ATH	−0.0445%	4h	0.005420	+0.068%	$182K	$94K	—	as long as short
Bybit ATHUSDT	−0.0040%	4h	0.005418	+0.032%	$4.4M	$2.3M	25x	as long as short
dYdX ATH-USD	−0.0003%	1h	0.005431	+0.272%	$11K	$16	5x	as long as short
BloFin ATH-USDT	+0.0071%	4h	0.005425	+0.161%	$171K	$65K	75x	as long as short
OKX ATH-USDT-SWAP	+0.0099%	4h	0.005418	+0.032%	$698K	$1.2M	20x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005433	+0.302%	$5K	$38K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005429	+0.227%	$3.3M	$3.9M	50x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005420	+0.068%	$776K	$533K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005429	+0.235%	$8.4M	$725K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005421	+0.087%	$551K	$117K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005432	+0.290%	$1.5M	$825K	25x	as long as short
BingX ATH-USDTshort	+0.0100%	4h	0.005422	+0.105%	—	$18.8M	—