Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.2165%/8h= +237.1% APRpaid last 24h +0.681%

Price spread now: Kraken Futures against Binance+0.110%7-day average +0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,756as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,782as in the Price arb table

costs, in and out, $10k−$1,77717.769% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)+0.520%+$52 · spread now +0.110%, 7d avg +0.166%

Together, before fees+0.731%+$73 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.056% cheaper against Binance than usual: you would sell low and buy high (spread +0.110% now, against its 7-day average of +0.166%). If the spread goes back, that is −$6 on $10k: about 2 hours of funding at the current rate (+$65 a day). At the pace of the last 7 days (+0.210% in total) that is about 45 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.210% in total (about 11.0% 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	Binance CVXUSDT	2.0510	0.0100	pay 0.0050% / 4h	1h 04m	$1.7M	$2.6M	75x
Short	Kraken Futures PF_CVXUSD	2.0533	0.2265	get 0.0283% / 1h	4m 21s	$118K	$88K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.110%Rate

Funding earned: $454.68
Price spread: +0.110% → +0.166%: −$5.6
Slippage, 4 orders: −$1,756.87
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,327.79
Costs to cover: 17.769%
Break-even: 27.4 days

Slippage from Binance: live order book, 16 min ago; Kraken Futures: live order book, 58 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 Binance live order book, 16 min ago	2.41 bp	27.3 bp −$27	120.1 bp −$1,201	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 58 min ago	37.42 bp	90.9 bp −$91	doesn't fit	doesn't fit	doesn't fit

CVX 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
Injective CVX/USDC PERP	+0.0033%	1h	1.9790	−3.510%	—	$33K	5.5x	as long as short
Binance CVXUSDTlong	+0.0100%	4h	2.0510	long leg	$1.7M	$2.6M	75x
Bybit CVXUSDT	+0.0100%	4h	2.0532	+0.107%	$1.7M	$716K	75x	as long as short
OKX CVX-USDT-SWAP	+0.0100%	4h	2.0510	0.000%	$251K	$323K	10x	as long as short
Gate CVX_USDT	+0.0100%	8h	2.0500	−0.049%	$69K	$28K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0510	0.000%	$2.0M	$460K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0510	0.000%	$813K	$71K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0490	−0.098%	$620K	$128K	25x	as long as short
BingX CVX-USDT	+0.0100%	4h	2.0520	+0.049%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0503	−0.037%	$5K	$2K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CVX-USDT	+0.0340%	4h	2.0470	−0.195%	$83K	$156K	75x	as long as short
GMX CVX/USD [ETH-USDC]	L +0.0488% / S −0.0195%	1h	2.0493	−0.085%	$169K	—	100x	as long as short
Kraken Futures PF_CVXUSDshort	+0.2265%	1h	2.0533	+0.110%	$118K	$88K	10x