Funding you earn now, next payment 22:00 UTC+0.0112%/8h= +12.2% APRnext payment +$0.14 per $10,000 · paid last 24h +0.018%
Price spread now: Kraken Futures against gTrade (Gains Network)−0.001%7-day average +0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$190.186% of the position
Funding, last 3 days (all we have)+0.049%+$5 on $10k
+Price spread, last 3 days (all we have)−0.055%−$6 · spread now −0.001%, 7d avg +0.004%
=The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BTC/USD | 86,702 | L +0.0005% / S −0.0004% | pay 0.0001% / 1h | 10m 53s | $36.9M | — | 200x |
| Short | Kraken Futures PF_XBTUSD | 86,701.4 | 0.0116 | get 0.0015% / 1h | 10m 53s | $187.9M | $934.0M | 100x |
gTrade (Gains Network) BTC/USD
Kraken Futures PF_XBTUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against gTrade (Gains Network). 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
- $23.48
- Price spread: −0.001% → +0.004%
- −$0.45
- Slippage, 4 orders
- −$1.63
- Fee gTrade (Gains Network): 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $4.4
- Costs to cover
- 0.186%
- Break-even
- 5.7 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 3 min ago; Kraken Futures: live order book, 3 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 gTrade (Gains Network) virtual book (oracle venue), 3 min ago | 0.51 bp | 4.0 bp −$4 | 4.1 bp −$41 | 4.5 bp −$446 | 6.4 bp −$3,184 |
| Sell Kraken Futures live order book, 3 min ago | 0.06 bp | 5.1 bp −$5 | 6.0 bp −$60 | 6.9 bp −$687 | 9.0 bp −$4,503 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps BTCUSD | −0.0246% | 1h | 86,727 | +0.029% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,703.5 | +0.002% | $425K | $24.6M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,676 | −0.030% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,680 | −0.025% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0062% | 1h | 86,692.6 | −0.011% | $17.6M | $20.6M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,704.4 | +0.003% | $362K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,705.7 | +0.004% | $928.0M | $1.47B | 50x | as long as short |
| Aster BTCUSDT | +0.0004% | 8h | 86,661.5 | −0.047% | $506.0M | $1.16B | 200x | as long as short |
| gTrade (Gains Network) BTC/USDlong | L +0.0005% / S −0.0004% | 1h | 86,702 | long leg | $36.9M | — | 200x | |
| KuCoin XBTUSDTM | +0.0006% | 8h | 86,668.1 | −0.039% | $851.5M | $708.3M | 125x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0022% | 1h | 86,678.2 | −0.027% | $6.7M | $144.4M | 40x | as long as short |
| Phemex BTCUSDT | +0.0029% | 8h | 86,679.3 | −0.026% | $150.1M | $472.0M | 150x | as long as short |
| BingX BTC-USDT | +0.0029% | 8h | 86,672.7 | −0.034% | — | $1.59B | — | as long as short |
| Bitget BTCUSDT | +0.0036% | 8h | 86,669.8 | −0.037% | $2.96B | $5.09B | 150x | as long as short |
| Injective BTC/USDC PERP | +0.0049% | 1h | 86,770 | +0.078% | $316K | $26.8M | 52x | as long as short |
| Binance BTCUSDT | +0.0060% | 8h | 86,670.6 | −0.036% | $9.43B | $24.37B | 150x | as long as short |
| MEXC BTC_USDT | +0.0060% | 8h | 86,672.3 | −0.034% | $5.20B | $5.71B | 500x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,700 | −0.002% | $9.3M | $41.9M | 25x | as long as short |
| Aevo BTC-PERP | +0.0064% | 1h | 86,672 | −0.035% | $2.4M | $1.3M | 20x | as long as short |
| Gate BTC_USDT | +0.0082% | 8h | 86,669.8 | −0.037% | $5.85B | $10.69B | 200x | as long as short |
| Bybit BTCUSDT | +0.0084% | 8h | 86,672.3 | −0.034% | $5.28B | $9.72B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0091% | 8h | 86,679.9 | −0.025% | $2.56B | $12.74B | 100x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,682.8 | −0.022% | $171.9M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,690.8 | −0.013% | $24.1M | $154.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,683 | −0.022% | $8.5M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,672 | −0.035% | $201K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,739 | +0.043% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,681.2 | −0.024% | $21.7M | $235.3M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,748 | +0.053% | $3.82B | $5.12B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,719.3 | +0.020% | $41.0M | $494.9M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,680 | −0.025% | $3.9M | $18.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,754.2 | +0.060% | $7.4M | $94.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,682.4 | −0.023% | $572.6M | $21.1M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,676.4 | −0.030% | $38.2M | $149.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,796.1 | +0.109% | $159.7M | $566.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,761.4 | +0.069% | $280.3M | $953.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,716 | +0.016% | $217.6M | $186.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,754.9 | +0.061% | $141.6M | $322.7M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,730.5 | +0.033% | $30.8M | $203.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,740.2 | +0.044% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,679 | −0.027% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,682.3 | −0.023% | $196K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,688.3 | −0.016% | $2.4M | $8.6M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,700.7 | −0.001% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,696.2 | −0.007% | $30.0M | $61.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,686.9 | −0.017% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,671 | −0.036% | $60.6M | $336.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,670.8 | −0.036% | $2.30B | $959.6M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,657.6 | −0.051% | $46.4M | $226.6M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,710.9 | +0.010% | — | $98.8M | 500x | as long as short |
| Kraken Futures PF_XBTUSDshort | +0.0116% | 1h | 86,701.4 | −0.001% | $187.9M | $934.0M | 100x | |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,719.2 | +0.020% | $131.9M | $5.84B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0167% | 8h | 86,710 | +0.009% | $9.6M | $727.7M | 6.4x | as long as short |
| BloFin BTC-USDT | +0.0180% | 8h | 86,682.4 | −0.023% | $416.7M | $655.5M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0180% / S −0.0209% | 1h | 86,697.7 | −0.005% | $15.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0192% | 1h | 86,711.1 | +0.010% | $780K | $7.8M | 30x | as long as short |
Reya BTCRUSDPERP
Phemex BTCUSDT
BingX BTC-USDT
Bitget BTCUSDT
Injective BTC/USDC PERP
Binance BTCUSDT
MEXC BTC_USDT
RISEx BTC/USDC
Aevo BTC-PERP
Gate BTC_USDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
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
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kalshi KXBTCPERP
BloFin BTC-USDT
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P