Funding you earn now, next payment 03:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h 0.000%
Price spread now: Kraken Futures against Binance+0.029%7-day average +0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$210.208% of the position
Funding, last 7 days+0.020%+$2 on $10k
+Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.029%, 7d avg +0.018%
=The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance BTCUSDT | 85,488.8 | 0.0087 | pay 0.0087% / 8h | 5h 38m | $9.32B | $23.87B | 150x |
| Short | Kraken Futures PF_XBTUSD | 85,513.7 | 0.0139 | get 0.0017% / 1h | 38m 10s | $188.4M | $948.3M | 100x |
Binance BTCUSDT
Kraken Futures PF_XBTUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- $10.88
- Price spread: +0.029% → +0.018%
- $1.09
- Slippage, 4 orders
- −$0.75
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$8.79
- Costs to cover
- 0.208%
- Break-even
- 12.7 days
Slippage from Binance: live order book, 6 min ago; Kraken Futures: live order book, 6 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 Binance live order book, 6 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.7 bp −$574 | 7.0 bp −$3,522 |
| Sell Kraken Futures live order book, 6 min ago | 0.06 bp | 5.3 bp −$5 | 6.5 bp −$65 | 7.6 bp −$765 | 9.3 bp −$4,634 |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0160% | 1h | 85,585 | +0.113% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,554 | +0.076% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,506.3 | +0.020% | $369K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0033% | 8h | 85,520.2 | +0.037% | $414.8M | $661.8M | 150x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,541.7 | +0.062% | $16.7M | $20.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,518.1 | +0.034% | $36.6M | — | 200x | as long as short |
| Nado BTC-PERP | +0.0011% | 1h | 85,502.3 | +0.016% | $22.7M | $221.3M | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0012% | 8h | 85,490.2 | +0.002% | $917.1M | $752.9M | 125x | as long as short |
| Aster BTCUSDT | +0.0019% | 8h | 85,499.5 | +0.013% | $515.1M | $1.11B | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0054% | 1h | 85,543.4 | +0.064% | $893.3M | $1.52B | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Nado BTC-PERP
KuCoin XBTUSDTM
Aster BTCUSDT
Deribit BTC-PERPETUALShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDT | +0.0054% | 8h | 85,495 | +0.007% | — | $1.54B | — | as long as short |
| HTX BTC-USDT | +0.0063% | 8h | 85,483.2 | −0.007% | $2.26B | $932.5M | 200x | as long as short |
| Reya BTCRUSDPERP | +0.0067% | 1h | 85,495.3 | +0.008% | $6.7M | $146.4M | 40x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,487.9 | −0.001% | $2.95B | $5.02B | 150x | as long as short |
| Phemex BTCUSDT | +0.0076% | 8h | 85,485.8 | −0.004% | $148.3M | $478.7M | 150x | as long as short |
| SunX BTC-USDT | +0.0077% | 8h | 85,516.3 | +0.032% | $2.9M | $6.1M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,578 | +0.104% | $340K | $26.9M | 52x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,497.3 | +0.010% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0086% | 8h | 85,498 | +0.011% | $5.05B | $5.61B | 500x | as long as short |
| Binance BTCUSDTlong | +0.0087% | 8h | 85,488.8 | long leg | $9.32B | $23.87B | 150x | |
| Lighter BTC | +0.0096% | 1h | 85,510.6 | +0.025% | $169.6M | $987.9M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,498.9 | +0.012% | $23.9M | $148.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,518 | +0.034% | $8.4M | $51.9M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0099% | 8h | 85,579.8 | +0.106% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,495 | +0.007% | $203K | $7.7M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,575 | +0.101% | $3.77B | $4.93B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,574.1 | +0.100% | $40.5M | $573.5M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,497.3 | +0.010% | $5.33B | $9.58B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,500 | +0.013% | $2.56B | $12.10B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,539 | +0.059% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,490.8 | +0.002% | $7.2M | $97.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,562.7 | +0.086% | $616.1M | $358.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,507.5 | +0.022% | $5.54B | $10.47B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,478.8 | −0.012% | $35.2M | $172.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,503.7 | +0.017% | $154.4M | $549.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,550.1 | +0.072% | $278.9M | $928.1M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,591.1 | +0.120% | $214.8M | $164.1M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,603.5 | +0.134% | $140.0M | $316.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,595.1 | +0.124% | $30.3M | $210.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,572.6 | +0.098% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,499 | +0.012% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,517 | +0.033% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,501.5 | +0.015% | $2.3M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 84,662.5 | −0.967% | $194K | $721K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,505.3 | +0.019% | $29.9M | $52.6M | 15x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,504 | +0.018% | $59.9M | $336.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,482.5 | −0.007% | $44.1M | $227.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,541.7 | +0.062% | — | $106.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,530.2 | +0.048% | $130.3M | $5.08B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,555.5 | +0.078% | $8.3M | $42.2M | 25x | as long as short |
| Kraken Futures PF_XBTUSDshort | +0.0139% | 1h | 85,513.7 | +0.029% | $188.4M | $948.3M | 100x | |
| Aftermath Perps BTCUSD | +0.0196% | 1h | 85,566.9 | +0.091% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,573.8 | +0.099% | $699K | $7.9M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0180% | 1h | 85,518.5 | +0.035% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0213% | 8h | 85,558 | +0.081% | $10.5M | $759.9M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,557.8 | +0.081% | $522K | $19.4M | 6.7x | as long as short |
BingX BTC-USDT
HTX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
Phemex BTCUSDT
SunX BTC-USDT
Injective BTC/USDC PERP
Aevo BTC-PERP
MEXC BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SoDEX BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Perpl BTC