Funding you earn now, next payment 23:00 UTC−0.0299%/8h= −32.7% APRpaid last 24h +0.024%
Price spread now: BingX against Kraken Futures−0.237%7-day average −0.158% · you buy dearer than you sell
Net, funding: paid 7d − costs−$289as in the Funding arb table
Net, price: spread back to 7d avg − costs−$290as in the Price arb table
costs, in and out, $10k−$2832.825% of the position
Funding, last 7 days−0.064%−$6 on $10k
+Price spread, last 3 days (all we have)+0.312%+$31 · spread now −0.237%, 7d avg −0.158%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BingX is 0.080% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.158%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.064% in total (about -3.3% 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_WUSD | 0.01174 | 0.0399 | pay 0.0050% / 1h | 58m 54s | $145K | $185K | 20x |
| Short | BingX W-USDT | 0.01171 | 0.0100 | get 0.0050% / 4h | 1h 58m | — | $6.9M | — |
Kraken Futures PF_WUSD
BingX W-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
- −$62.79
- Price spread: −0.237% → −0.158%
- −$7.96
- Slippage, 4 orders
- −$262.54
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$353.28
- Costs to cover
- 2.825%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 24 min ago; BingX: live order book, 9 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, 24 min ago | 31.42 bp | 191.0 bp −$191 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 9 min ago | 3.41 bp | 21.5 bp −$22 | 57.0 bp −$570 | 591.6 bp −$59.2K | 1098.1 bp −$549.0K |
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0432% | 1h | 0.01171 | −0.178% | $17K | $1K | 10x | as long as short |
| OKX W-USDT-SWAP | −0.0052% | 4h | 0.01171 | −0.220% | $1.3M | $2.1M | 20x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +3.018% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01172 | −0.135% | $2.0M | $450K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01171 | −0.178% | $3.0M | $7.1M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01170 | −0.322% | $4.1M | $2.0M | 50x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01170 | −0.305% | $444K | $291K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01171 | −0.195% | $12.8M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01169 | −0.391% | $415K | $217K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01172 | −0.135% | $1.3M | $583K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
OKX W-USDT-SWAP
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDTshort | +0.0100% | 4h | 0.01171 | −0.237% | — | $6.9M | — | |
| Backpack W_USDC_PERP | +0.0100% | 1h | 0.01173 | −0.058% | $44K | $47K | 15x | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01167 | −0.552% | $70K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01171 | −0.235% | $122K | $409K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01171 | −0.212% | $59K | $276K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0240% | 1h | 0.01178 | +0.376% | $14K | $18K | 50x | as long as short |
| Kraken Futures PF_WUSDlong | +0.0399% | 1h | 0.01174 | long leg | $145K | $185K | 20x |
Backpack W_USDC_PERP
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX