Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.6006%/8h= −657.6% APRpaid last 24h −0.817%

Price spread now: OKX against Kraken Futures+0.092%7-day average −0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$988as in the Funding arb table

Net, price: spread back to 7d avg − costs−$938as in the Price arb table

costs, in and out, $10k−$9619.610% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.270%−$27 on $10k

Price spread, last 4 days (all we have)−0.383%−$38 · spread now +0.092%, 7d avg −0.142%

Together, before fees−0.653%−$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.234% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.092% now, against its 7-day average of −0.142%): +$23 on $10k if it goes back. Holding the pair costs −$180 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.270% in total) that is about 6.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.270% in total (about -14.1% 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	2.0421	0.6106	pay 0.0763% / 1h	4m 44s	$118K	$100K	10x
Short	OKX CVX-USDT-SWAP	2.0440	0.0100	get 0.0050% / 4h	2h 04m	$247K	$319K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.092%Rate

Funding earned: −$1,261.17
Price spread: +0.092% → −0.142%: $23.4
Slippage, 4 orders: −$940.99
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$2,198.76
Costs to cover: 9.610%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 42 min ago; OKX: live order book, 41 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, 42 min ago	16.16 bp	853.7 bp −$854	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 41 min ago	4.90 bp	37.4 bp −$37	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	−3.091%	—	$33K	5.5x	as long as short
Binance CVXUSDT	+0.0100%	4h	2.0408	−0.066%	$1.7M	$2.6M	75x	as long as short
Bybit CVXUSDT	+0.0100%	4h	2.0449	+0.136%	$1.8M	$756K	75x	as long as short
OKX CVX-USDT-SWAPshort	+0.0100%	4h	2.0440	+0.092%	$247K	$319K	10x
Gate CVX_USDT	+0.0100%	8h	2.0400	−0.104%	$68K	$23K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0410	−0.055%	$2.0M	$505K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0410	−0.055%	$766K	$86K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0420	−0.006%	$617K	$134K	25x	as long as short
BingX CVX-USDT	+0.0100%	4h	2.0440	+0.092%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0456	+0.170%	$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	2.0410	−0.055%	$80K	$151K	75x	as long as short
GMX CVX/USD [ETH-USDC]	L +0.0487% / S −0.0194%	1h	2.0411	−0.049%	$168K	—	100x	as long as short
Kraken Futures PF_CVXUSDlong	+0.6106%	1h	2.0421	long leg	$118K	$100K	10x