Funding you earn now, next payment 04:00 UTC+0.0070%/8h= +7.7% APRpaid last 24h +0.011%
Price spread now: Kraken Futures against Gate+0.004%7-day average +0.021% · 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−$28as in the Price arb table
costs, in and out, $10k−$260.259% of the position
Funding, last 7 days+0.065%+$7 on $10k
+Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.004%, 7d avg +0.021%
=The price spread sits at its 7-day average of +0.021%, 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 | Gate BTC_USDT | 85,624.4 | 0.0100 | pay 0.0100% / 8h | 4h 50m | $5.54B | $10.54B | 200x |
| Short | Kraken Futures PF_XBTUSD | 85,628.1 | 0.0170 | get 0.0021% / 1h | 50m 55s | $188.7M | $952.2M | 100x |
Gate BTC_USDT
Kraken Futures PF_XBTUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Gate. 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
- $14.7
- Price spread: +0.004% → +0.021%
- −$1.69
- Slippage, 4 orders
- −$0.89
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$12.88
- Costs to cover
- 0.259%
- Break-even
- 13.1 days
Slippage from Gate: live order book, 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 Gate live order book, 3 min ago | 0.01 bp | 7.5 bp −$8 | 8.2 bp −$82 | 9.4 bp −$939 | 13.6 bp −$6,823 |
| Sell Kraken Futures live order book, 3 min ago | 0.06 bp | 5.8 bp −$6 | 6.4 bp −$64 | 7.4 bp −$744 | 8.8 bp −$4,414 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.1921% | 1h | 85,641.4 | +0.020% | $194K | $725K | 40x | as long as short |
| Phoenix BTC | −0.0179% | 1h | 85,587 | −0.044% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,613 | −0.013% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0048% | 1h | 85,591.2 | −0.039% | $370K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0031% | 8h | 85,599.8 | −0.029% | $417.7M | $665.6M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0001% | 8h | 85,632.7 | +0.010% | $919.9M | $749.3M | 125x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,619.4 | −0.006% | $16.7M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,610.8 | −0.016% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0016% | 8h | 85,634.3 | +0.012% | $516.1M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,569.7 | −0.064% | $6.9M | $97.1M | 40x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0051% | 1h | 85,582.9 | −0.049% | $22.5M | $218.8M | 50x | as long as short |
| BingX BTC-USDT | +0.0058% | 8h | 85,651 | +0.031% | — | $1.54B | — | as long as short |
| Bitget BTCUSDT | +0.0074% | 8h | 85,651.2 | +0.031% | $2.96B | $5.01B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0077% | 1h | 85,595.6 | −0.034% | $6.7M | $146.6M | 40x | as long as short |
| SoDEX BTC-USD | +0.0084% | 1h | 85,607 | −0.020% | $60.0M | $336.1M | 40x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,597.8 | −0.031% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0089% | 8h | 85,650 | +0.030% | $5.05B | $5.58B | 500x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,646.3 | +0.026% | $9.34B | $23.96B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,611.3 | −0.015% | $174.0M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,618.6 | −0.007% | $23.8M | $148.1M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,595 | −0.034% | $8.4M | $52.6M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,621.5 | −0.003% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,566 | −0.068% | $233K | $7.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,684.2 | +0.070% | $3.74B | $4.97B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,610 | −0.017% | $40.1M | $576.9M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,648 | +0.028% | $5.33B | $9.57B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,660.3 | +0.042% | $2.58B | $12.10B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,572 | −0.061% | $3.9M | $18.0M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,696.6 | +0.084% | $648.3M | $574.6M | 40x | as long as short |
| Gate BTC_USDTlong | +0.0100% | 8h | 85,624.4 | long leg | $5.54B | $10.54B | 200x | |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,606.4 | −0.021% | $35.9M | $175.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,584.4 | −0.047% | $156.6M | $560.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,637.5 | +0.015% | $279.7M | $917.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,650.2 | +0.030% | $214.9M | $165.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,649.2 | +0.029% | $140.0M | $314.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,646.5 | +0.026% | $30.3M | $207.7M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,647.3 | +0.027% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,596 | −0.033% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,604.3 | −0.023% | $194K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,589.7 | −0.041% | $2.4M | $8.7M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,598.8 | −0.030% | $30.0M | $51.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,577 | −0.055% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,598 | −0.031% | $2.27B | $938.1M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,603.9 | −0.024% | $151.0M | $482.7M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,629.1 | +0.006% | $44.5M | $226.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,582 | −0.050% | — | $106.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,646.8 | +0.026% | $117.3M | $5.14B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,670 | +0.053% | $340K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSDshort | +0.0170% | 1h | 85,628.1 | +0.004% | $188.7M | $952.2M | 100x | |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,609.1 | −0.018% | $13.4M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 85,684.7 | +0.070% | $700K | $7.9M | 30x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,618.4 | −0.007% | $8.4M | $42.4M | 25x | as long as short |
| Deribit BTC-PERPETUAL | +0.0196% | 1h | 85,656.5 | +0.037% | $892.9M | $1.53B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0201% | 1h | 85,672.2 | +0.056% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0218% | 8h | 85,624 | 0.000% | $10.7M | $758.6M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,587.7 | −0.043% | $492K | $18.9M | 6.7x | as long as short |
Nado BTC-PERP
BingX BTC-USDT
Bitget BTCUSDT
Reya BTCRUSDPERP
SoDEX BTC-USD
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
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
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
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
RISEx BTC/USDC
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC