Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1356%/8h= −148.5% APRpaid last 24h −0.865%

Price spread now: BloFin against Kraken Futures−0.421%57s7-day average −0.169% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,809as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1,77717.773% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.313%−$31 on $10k

Price spread, last 4 days (all we have)+0.188%+$19 · spread now −0.421%, 7d avg −0.169%

Together, before fees−0.125%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$41 a day on $10k at the current rate, and BloFin is 0.253% cheaper against Kraken Futures than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.169%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.313% in total (about -16.3% 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	2.0446	0.1696	pay 0.0212% / 1h	19m 56s	$118K	$99K	10x
Short	BloFin CVX-USDT	2.0360	0.0340	get 0.0170% / 4h	1h 19m	$81K	$151K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpOrdersPrice spread, now −0.421%Rate

Funding earned: −$284.71
Price spread: −0.421% → −0.169%: −$25.27
Slippage, 4 orders: −$1,755.26
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$2,087.24
Costs to cover: 17.773%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 22 min ago; BloFin: live order book, 55 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, 22 min ago	20.12 bp	1697.4 bp −$1,697	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 55 min ago	4.91 bp	31.2 bp −$31	81.6 bp −$816	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	−3.209%	—	$33K	5.5x	as long as short
Binance CVXUSDT	+0.0100%	4h	2.0430	−0.079%	$1.7M	$2.6M	75x	as long as short
Bybit CVXUSDT	+0.0100%	4h	2.0430	−0.079%	$1.8M	$755K	75x	as long as short
OKX CVX-USDT-SWAP	+0.0100%	4h	2.0450	+0.019%	$248K	$315K	10x	as long as short
Gate CVX_USDT	+0.0100%	8h	2.0380	−0.324%	$68K	$21K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0420	−0.128%	$2.0M	$499K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0380	−0.324%	$764K	$74K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0410	−0.177%	$616K	$127K	25x	as long as short
BingX CVX-USDT	+0.0100%	4h	2.0430	−0.079%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0413	−0.163%	$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-USDTshort	+0.0340%	4h	2.0360	−0.421%	$81K	$151K	75x
GMX CVX/USD [ETH-USDC]	L +0.0487% / S −0.0194%	1h	2.0423	−0.115%	$169K	—	100x	as long as short
Kraken Futures PF_CVXUSDlong	+0.1696%	1h	2.0446	long leg	$118K	$99K	10x