Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0698%/8h= +76.4% APRpaid last 24h −0.014%

Price spread now: Kraken Futures against BingX+0.035%53s7-day average +0.106% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as 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−$900.897% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.169%−$17 on $10k

Price spread, last 4 days (all we have)+0.239%+$24 · spread now +0.035%, 7d avg +0.106%

Together, before fees+0.070%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.071% cheaper against BingX than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.106%). If the spread goes back, that is −$7 on $10k: about 8 hours of funding at the current rate (+$21 a day). Mind the row above: over the last 7 days funding on this pair cost −0.169%, so the current rate has only just turned in your favour. The two prices were read 53 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 -0.169% in total (about -8.8% 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	BingX WIF-USDC	0.2541	0.0100	pay 0.0050% / 4h	13m 21s	—	$2.3M	—
Short	Kraken Futures PF_WIFUSD	0.2542	0.0798	get 0.0100% / 1h	13m 21s	$661K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.035%Rate

Funding earned: $146.49
Price spread: +0.035% → +0.106%: −$7.11
Slippage, 4 orders: −$69.68
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $49.7
Costs to cover: 0.897%
Break-even: 4.6 days

Slippage from BingX: live order book, 10 min ago; Kraken Futures: live order book, 5 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 BingX live order book, 10 min ago	2.00 bp	21.2 bp −$21	66.3 bp −$663	300.9 bp −$30.1K	576.1 bp −$288.1K
Sell Kraken Futures live order book, 5 min ago	9.96 bp	26.7 bp −$27	49.4 bp −$494	doesn't fit	doesn't fit

WIF on 32 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
GMX WIF/USD [WBTC.b-USDC]	L −0.0182% / S +0.0276%	1h	0.2533	−0.296%	$20K	—	100x	as long as short
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−3.109%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2533	−0.315%	$1.0M	$960K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2541	−0.013%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2542	+0.039%	$34K	$275K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2544	+0.137%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0034%	1h	0.2540	−0.047%	$76K	$310K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2543	+0.094%	$145K	$711K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2544	+0.118%	$55K	$576K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2547	+0.240%	$8.9M	$6.9M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2544	+0.127%	$30K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2543	+0.063%	$79K	$74K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2545	+0.173%	$19.6M	$149.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2543	+0.079%	$17.0M	$49.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2544	+0.118%	$5.7M	$44.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2545	+0.157%	$1.2M	$9.5M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2544	+0.118%	$22.7M	$12.6M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2545	+0.157%	$4.3M	$17.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2544	+0.118%	$7.7M	$16.3M	50x	as long as short
BingX WIF-USDClong	+0.0100%	4h	0.2541	long leg	—	$2.3M	—
Variational Omni WIF	+0.0100%	4h	0.2517	−0.940%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2536	−0.197%	$286K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2531	−0.394%	$46K	$640K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2546	+0.197%	$6K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2537	−0.157%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2541	−0.004%	$584	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2535	−0.236%	$161K	$912K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2542	+0.035%	$10K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2541	+0.006%	$85K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2542	+0.039%	$337K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2544	+0.124%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSDshort	+0.0798%	1h	0.2542	+0.035%	$661K	$2.7M	50x