Funding you earn now, next payment 06:00 UTC−0.1351%/8h= −148.0% APRpaid last 24h −0.213%
Price spread now: BingX against Kraken Futures−0.174%7-day average −0.121% · you buy dearer than you sell
Net, funding: paid 7d − costs−$235as in the Funding arb table
Net, price: spread back to 7d avg − costs−$177as in the Price arb table
costs, in and out, $10k−$1721.715% of the position
Funding, last 7 days−0.638%−$64 on $10k
+Price spread, last 4 days (all we have)+0.199%+$20 · spread now −0.174%, 7d avg −0.121%
=Both sides work against this trade now: funding costs −$41 a day on $10k at the current rate, and BingX is 0.053% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.121%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.638% in total (about -33.3% 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_SPXUSD | 0.5065 | 0.1451 | pay 0.0181% / 1h | 30m 50s | $247K | $544K | 20x |
| Short | BingX SPX-USDT | 0.5056 | 0.0100 | get 0.0050% / 4h | 2h 30m | — | $6.9M | — |
Kraken Futures PF_SPXUSD
BingX SPX-USDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$283.8
- Price spread: −0.174% → −0.121%
- −$5.28
- Slippage, 4 orders
- −$151.52
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$460.59
- Costs to cover
- 1.715%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 17 min ago; BingX: live order book, 7 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, 17 min ago | 44.99 bp | 50.0 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 7 min ago | 8.88 bp | 26.5 bp −$26 | 58.2 bp −$582 | 279.4 bp −$27.9K | 1035.6 bp −$517.8K |
SPX on 19 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 SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −1.694% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5061 | −0.067% | $138K | $380K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5062 | −0.053% | $10.3M | $7.9M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5057 | −0.155% | $135K | $130K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5058 | −0.133% | $5.0M | $22.5M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5052 | −0.253% | $11.5M | $17.1M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5055 | −0.194% | $929K | $3.1M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5051 | −0.273% | $1.0M | $600K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5061 | −0.075% | $11.9M | $5.1M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5054 | −0.213% | $3.7M | $5.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPXUSDT | +0.0100% | 4h | 0.5058 | −0.134% | $2.6M | $1.5M | 50x | as long as short |
| BingX SPX-USDTshort | +0.0100% | 4h | 0.5056 | −0.174% | — | $6.9M | — | |
| Variational Omni SPX | +0.0100% | 4h | 0.5046 | −0.367% | $930K | $1.5M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5046 | −0.371% | $26K | $255K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5046 | −0.371% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5058 | −0.131% | $33K | $257K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0168% | 4h | 0.5061 | −0.075% | $20K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5059 | −0.115% | $249K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1451% | 1h | 0.5065 | long leg | $247K | $544K | 20x |
Bitget SPXUSDT
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Orderly PERP_SPX_USDC
BloFin SPX-USDT