Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.2703%/8h= −296.0% APRpaid last 24h −0.924%

Price spread now: BingX against Kraken Futures−0.166%7-day average −0.130% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2,742as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,711as in the Price arb table

costs, in and out, $10k−$2,70727.073% 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−0.343%−$34 on $10k

Price spread, last 4 days (all we have)−0.103%−$10 · spread now −0.166%, 7d avg −0.130%

Together, before fees−0.446%−$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$81 a day on $10k at the current rate, and BingX is 0.036% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.130%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.343% in total (about -17.9% 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_CVXUSD	2.0354	0.2803	pay 0.0350% / 1h	8m 04s	$117K	$97K	10x
Short	BingX CVX-USDT	2.0320	0.0100	get 0.0050% / 4h	8m 04s	—	$1.6M	—

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 −0.166%Rate

Funding earned: −$567.72
Price spread: −0.166% → −0.130%: −$3.57
Slippage, 4 orders: −$2,687.26
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$3,278.54
Costs to cover: 27.073%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 29 min ago; BingX: live order book, 4 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, 29 min ago	34.64 bp	1819.3 bp −$1,819	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	7.37 bp	28.8 bp −$29	81.7 bp −$817	818.8 bp −$81.9K	1328.4 bp −$664.2K

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	−2.770%	—	$33K	5.5x	as long as short
Binance CVXUSDT	+0.0100%	4h	2.0319	−0.169%	$1.7M	$2.6M	75x	as long as short
Bybit CVXUSDT	+0.0100%	4h	2.0365	+0.055%	$1.8M	$750K	75x	as long as short
OKX CVX-USDT-SWAP	+0.0100%	4h	2.0340	−0.067%	$247K	$309K	10x	as long as short
Gate CVX_USDT	+0.0100%	8h	2.0320	−0.166%	$68K	$21K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0320	−0.166%	$2.1M	$500K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0300	−0.264%	$762K	$74K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0300	−0.264%	$613K	$127K	25x	as long as short
BingX CVX-USDTshort	+0.0100%	4h	2.0320	−0.166%	—	$1.6M	—
Variational Omni CVX	+0.0109%	4h	2.0358	+0.021%	$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	2.0360	+0.031%	$81K	$151K	75x	as long as short
GMX CVX/USD [ETH-USDC]	L +0.0487% / S −0.0194%	1h	2.0303	−0.249%	$168K	—	100x	as long as short
Kraken Futures PF_CVXUSDlong	+0.2803%	1h	2.0354	long leg	$117K	$97K	10x