Funding you earn now, next payment 09:00 UTC−0.0843%/8h= −92.3% APRnext payment −$1.05 per $10,000 · paid last 24h −0.309%
Price spread now: Kraken Futures against GMX+0.254%7-day average +0.059% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.087%+$9 on $10k
+Price spread, last 4 days (all we have)−2.422%−$242 · spread now +0.254%, 7d avg +0.059%
=The price spread pays, funding is against you. Kraken Futures is 0.196% dearer against GMX than usual: you sell high and buy low (spread +0.254% now, against its 7-day average of +0.059%): +$20 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 19 hours. Mind the row above: over the last 4 days funding on this pair paid +0.087%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.087% in total (about 9.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.05 per $10,000. 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 | GMX AR/USD [WBTC.b-USDC] | 4.3797 | L −0.0140% / S +0.0550% | get 0.0018% / 1h | 10m 57s | $563K | — | 50x |
| Short | Kraken Futures PF_ARUSD | 4.3908 | −0.0983 | pay 0.0123% / 1h | 10m 57s | $49K | $152K | 20x |
GMX AR/USD [WBTC.b-USDC]
Kraken Futures PF_ARUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against GMX. 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
- −$176.96
- Price spread: +0.254% → +0.059%
- $19.57
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$179.39
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Kraken Futures: live order book, 21 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 GMX no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 21 min ago | 50.39 bp | 56.6 bp −$57 | doesn't fit | doesn't fit | doesn't fit |
GMX: 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.
AR 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ARUSDshort | −0.0983% | 1h | 4.3908 | +0.254% | $49K | $152K | 20x | |
| GMX AR/USD [WBTC.b-USDC]long | L −0.0140% / S +0.0550% | 1h | 4.3797 | long leg | $563K | — | 50x | |
| Injective AR/USDC PERP | +0.0033% | 1h | 4.4240 | +1.011% | $2K | $5K | 5.5x | as long as short |
| Hyperliquid AR | +0.0100% | 1h | 4.3886 | +0.203% | $3.9M | $4.4M | 5x | as long as short |
| Aster ARUSDT | +0.0100% | 8h | 4.3810 | +0.030% | $32K | $224K | 10x | as long as short |
| Binance ARUSDT | +0.0100% | 8h | 4.3825 | +0.063% | $8.6M | $42.9M | 75x | as long as short |
| Bybit ARUSDT | +0.0100% | 8h | 4.3830 | +0.075% | $4.5M | $8.0M | 75x | as long as short |
| OKX AR-USDT-SWAP | +0.0100% | 8h | 4.3790 | −0.016% | $2.3M | $13.8M | 20x | as long as short |
| Gate AR_USDT | +0.0100% | 8h | 4.3810 | +0.030% | $2.4M | $3.7M | 50x | as long as short |
| MEXC AR_USDT | +0.0100% | 8h | 4.3830 | +0.075% | $6.2M | $3.8M | 100x | as long as short |
Injective AR/USDC PERP
Hyperliquid AR
Aster ARUSDT
Binance ARUSDT
Bybit ARUSDT
OKX AR-USDT-SWAP
Gate AR_USDT
MEXC AR_USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ARUSDTM | +0.0100% | 8h | 4.3820 | +0.052% | $1.1M | $1.1M | 50x | as long as short |
| Bitget ARUSDT | +0.0100% | 8h | 4.3800 | +0.007% | $3.8M | $4.7M | 75x | as long as short |
| BingX AR-USDT | +0.0100% | 8h | 4.3820 | +0.052% | — | $2.7M | — | as long as short |
| Variational Omni AR | +0.0100% | 8h | 4.4049 | +0.574% | $251K | $510K | — | as long as short |
| ApeX Omni ARUSDT | +0.0100% | 1h | 4.3530 | −0.610% | $21K | $706K | 50x | as long as short |
| Extended AR-USD | +0.0104% | 1h | 4.3818 | +0.047% | $38K | $243K | 10x | as long as short |
| BloFin AR-USDT | +0.0220% | 8h | 4.3840 | +0.098% | $416K | $430K | 20x | as long as short |
KuCoin ARUSDTM
Bitget ARUSDT
BingX AR-USDT
Variational Omni AR
ApeX Omni ARUSDT
Extended AR-USD
BloFin AR-USDT