Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0879%/8h= −96.2% APRpaid last 24h +0.366%

Price spread now: BingX against Kraken Futures−0.081%53s7-day average — · you buy dearer than you sell

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 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and BingX is 0.081% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_MELANIAUSD	0.1086	0.0979	pay 0.0122% / 1h	1m 27s	$25K	$3K	10x
Short	BingX MELANIA-USDT	0.1085	0.0100	get 0.0050% / 4h	3h 01m	—	$1.5M	—

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 −0.081%Rate

Funding earned: −$184.54
Price spread: −0.081% → 0.000%: −$8.15
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$212.68
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 15 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 no order-book sample	—	—	—	—	—
Sell BingX live order book, 15 min ago	5.95 bp	28.8 bp −$29	102.0 bp −$1,020	562.9 bp −$56.3K	813.9 bp −$407.0K

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MELANIA 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
Hyperliquid MELANIA	+0.0100%	1h	0.1084	−0.229%	$1.7M	$200K	3x	as long as short
Binance MELANIAUSDT	+0.0100%	4h	0.1085	−0.075%	$3.0M	$3.0M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1086	−0.054%	$1.4M	$659K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1085	−0.072%	$415K	$61K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1085	−0.072%	$1.2M	$138K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1085	−0.109%	$412K	$1.2M	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1085	−0.063%	$952K	$205K	50x	as long as short
BingX MELANIA-USDTshort	+0.0100%	4h	0.1085	−0.081%	—	$1.5M	—
Variational Omni MELANIA	+0.0100%	4h	0.1093	+0.632%	$113K	$590	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1085	−0.109%	$248K	—	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MELANIA-USDT	+0.0115%	4h	0.1089	+0.213%	$196K	$6K	75x	as long as short
Aster MELANIAUSDT	+0.0726%	4h	0.1086	−0.054%	$21K	$15K	5x	as long as short
Kraken Futures PF_MELANIAUSDlong	+0.0979%	1h	0.1086	long leg	$25K	$3K	10x