Funding you earn now, next payment 09:00 UTC−0.1436%/8h= −157.3% APRnext payment −$1.80 per $10,000 · paid last 24h −0.498%
Price spread now: Injective against Kraken Futures−0.727%63s7-day average −0.486% · you buy dearer than you sell
Net, funding: paid 7d − costs−$485as 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−$1451.454% of the position
Funding, last 7 days−3.393%−$339 on $10k
+Price spread, last 4 days (all we have)+0.176%+$18 · spread now −0.727%, 7d avg −0.486%
=Both sides work against this trade now: funding costs −$43 a day on $10k at the current rate, and Injective is 0.240% cheaper against Kraken Futures than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.486%). Swap the legs. The two prices were read 63 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_ARBUSD | 0.2190 | −0.0169 | get 0.0021% / 1h | 57m 41s | $1.1M | $4.3M | 50x |
| Short | Injective ARB/USDC PERP | 0.2174 | −0.1605 | pay 0.0201% / 1h | 57m 41s | $39K | $372K | 12x |
Kraken Futures PF_ARBUSD
Injective ARB/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$301.62
- Price spread: −0.727% → −0.486%
- −$24
- Slippage, 4 orders
- −$135.35
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$471
- Costs to cover
- 1.454%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Injective: live order book, 41 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, 1 min ago | 11.87 bp | 18.3 bp −$18 | 23.5 bp −$235 | doesn't fit | doesn't fit |
| Sell Injective live order book, 41 min ago | 52.62 bp | 52.6 bp −$53 | doesn't fit | doesn't fit | doesn't fit |
ARB on 36 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 ARB/USDC PERPshort | −0.1605% | 1h | 0.2174 | −0.727% | $39K | $372K | 12x | |
| Phemex ARBUSDT | −0.0291% | 8h | 0.2188 | −0.087% | $4.8M | $12.8M | 50x | as long as short |
| Kraken Futures PF_ARBUSDlong | −0.0169% | 1h | 0.2190 | long leg | $1.1M | $4.3M | 50x | |
| 01 Exchange ARBUSD | −0.0152% | 1h | 0.2193 | +0.146% | $7K | $236 | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0069% | 8h | 0.2192 | +0.077% | $22.1M | $145.5M | 50x | as long as short |
| MEXC ARB_USDT | −0.0068% | 8h | 0.2190 | +0.027% | $42.8M | $62.3M | 200x | as long as short |
| SoDEX ARB-USD | −0.0062% | 1h | 0.2188 | −0.087% | $9K | $2.2M | 5x | as long as short |
| Orderly PERP_ARB_USDC | −0.0040% | 8h | 0.2189 | −0.042% | $16K | $410K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2191 | +0.037% | $65K | $4K | 10x | as long as short |
| Extended ARB-USD | 0.0000% | 1h | 0.2191 | +0.047% | $364K | $3.1M | 25x | as long as short |
Phemex ARBUSDT
01 Exchange ARBUSD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
SoDEX ARB-USD
Orderly PERP_ARB_USDC
dYdX ARB-USD
Extended ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2190 | +0.027% | $28K | $38K | 25x | as long as short |
| Binance ARBUSDT | +0.0004% | 8h | 0.2191 | +0.060% | $63.2M | $299.2M | 75x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2189 | −0.019% | $73K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0009% | 8h | 0.2192 | +0.082% | $5.4M | $18.0M | 60x | as long as short |
| Variational Omni ARB | +0.0029% | 8h | 0.2187 | −0.149% | $1.8M | $3.0M | — | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2190 | −0.009% | $139K | $7K | 3x | as long as short |
| BingX ARB-USDC | +0.0087% | 8h | 0.2190 | +0.018% | — | $6.5M | — | as long as short |
| Bitget ARBUSDT | +0.0088% | 8h | 0.2190 | +0.004% | $21.1M | $34.6M | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2191 | +0.032% | $1.3M | $5.3M | 15x | as long as short |
| BloFin ARB-USDT | +0.0099% | 8h | 0.2187 | −0.124% | $3.0M | $2.3M | 75x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2191 | +0.063% | $36.7M | $49.8M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2190 | +0.026% | $627K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2191 | +0.045% | $43K | $146K | 10x | as long as short |
| Bybit ARBUSDT | +0.0100% | 8h | 0.2191 | +0.063% | $53.4M | $125.9M | 50x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2190 | +0.009% | $19.5M | $13.8M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2181 | −0.405% | $39K | $466K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2186 | −0.197% | $464K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2184 | −0.270% | $118K | $268K | 50x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2190 | +0.018% | $73K | $2.1M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2192 | +0.095% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2188 | −0.078% | $293K | $836K | 50x | as long as short |
| RISEx ARB/USDC | +0.0123% | 1h | 0.2190 | +0.006% | $511K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERP | +0.0220% | 1h | 0.2191 | +0.032% | $979K | $2.8M | 20x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0277% / S −0.0160% | 1h | 0.2190 | +0.005% | $830K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0288% | 1h | 0.2187 | −0.111% | $2K | $695 | 20x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0336% | 1h | 0.2191 | +0.050% | $514K | $1.5M | 50x | as long as short |
Deribit ARB_USDC-PERPETUAL
Binance ARBUSDT
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
Variational Omni ARB
Aevo ARB-PERP
BingX ARB-USDC
Bitget ARBUSDT
Lighter ARB
BloFin ARB-USDT
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
Bybit ARBUSDT
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
RISEx ARB/USDC
Backpack ARB_USDC_PERP
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Coinbase International ARB-PERP-INTX