Funding you earn now, next payment 22:00 UTC+0.0067%/8h= +7.4% APRnext payment +$0.08 per $10,000 · paid last 24h +0.014%
Price spread now: Kraken Futures against Injective+0.020%7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$150.153% of the position
Funding, last 7 days+0.015%+$1 on $10k
+Price spread, last 3 days (all we have)+0.033%+$3 · spread now +0.020%, 7d avg −0.001%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kraken Futures is 0.020% dearer against Injective than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective BTC/USDC PERP | 86,639 | 0.0049 | pay 0.0006% / 1h | 28m 24s | $315K | $26.8M | 52x |
| Short | Kraken Futures PF_XBTUSD | 86,656.1 | 0.0117 | get 0.0015% / 1h | 28m 24s | $188.8M | $930.7M | 100x |
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Injective. 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
- $14.16
- Price spread: +0.020% → −0.001%
- $2.04
- Slippage, 4 orders
- −$5.26
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $0.92
- Costs to cover
- 0.153%
- Break-even
- 6.5 days
Slippage from Injective: live order book, 1 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 Injective live order book, 1 min ago | 2.13 bp | 2.5 bp −$2 | 10.0 bp −$100 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 6 min ago | 0.06 bp | 5.1 bp −$5 | 5.8 bp −$58 | 6.9 bp −$689 | 8.6 bp −$4,284 |
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 | −0.0235% | 1h | 86,626.7 | −0.014% | $85K | $188K | 20x | as long as short |
| Perpl BTC | −0.0223% | 43m | 86,651.2 | +0.014% | $428K | $24.8M | 6.7x | as long as short |
| Phoenix BTC | −0.0103% | 1h | 86,583 | −0.065% | $2.2M | $12.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,628 | −0.013% | $9K | $3K | 50x | as long as short |
| dYdX BTC-USD | −0.0080% | 1h | 86,626.4 | −0.015% | $17.6M | $20.5M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 86,655.1 | +0.019% | $362K | $2.4M | 50x | as long as short |
| Deribit BTC-PERPETUAL | 0.0000% | 1h | 86,648.8 | +0.011% | $935.2M | $1.44B | 50x | as long as short |
| KuCoin XBTUSDTM | +0.0002% | 8h | 86,631.2 | −0.009% | $844.1M | $704.8M | 125x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,647.7 | +0.010% | $36.8M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0007% | 8h | 86,622.8 | −0.019% | $505.9M | $1.16B | 200x | as long as short |
Aftermath Perps BTCUSD
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
dYdX BTC-USD
01 Exchange BTCUSD
Deribit BTC-PERPETUAL
KuCoin XBTUSDTM
gTrade (Gains Network) BTC/USD
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0021% | 1h | 86,625.4 | −0.016% | $6.7M | $144.4M | 40x | as long as short |
| BingX BTC-USDT | +0.0023% | 8h | 86,627.7 | −0.013% | — | $1.59B | — | as long as short |
| Phemex BTCUSDT | +0.0026% | 8h | 86,613.5 | −0.029% | $149.7M | $471.2M | 150x | as long as short |
| Bitget BTCUSDT | +0.0032% | 8h | 86,627.9 | −0.013% | $2.95B | $5.07B | 150x | as long as short |
| Injective BTC/USDC PERPlong | +0.0049% | 1h | 86,639 | long leg | $315K | $26.8M | 52x | |
| MEXC BTC_USDT | +0.0053% | 8h | 86,626.5 | −0.014% | $5.19B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0054% | 8h | 86,628.3 | −0.012% | $9.44B | $24.30B | 150x | as long as short |
| Aevo BTC-PERP | +0.0056% | 1h | 86,613.8 | −0.029% | $2.4M | $1.3M | 20x | as long as short |
| RISEx BTC/USDC | +0.0063% | 1h | 86,649.7 | +0.012% | $9.1M | $42.0M | 25x | as long as short |
| Gate BTC_USDT | +0.0076% | 8h | 86,640.2 | +0.001% | $5.86B | $10.64B | 200x | as long as short |
| OKX BTC-USDT-SWAP | +0.0076% | 8h | 86,652 | +0.015% | $2.56B | $12.71B | 100x | as long as short |
| Bybit BTCUSDT | +0.0082% | 8h | 86,634.8 | −0.005% | $5.27B | $9.67B | 150x | as long as short |
| Variational Omni BTC | +0.0095% | 8h | 86,614.5 | −0.028% | $160.3M | $564.8M | — | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,655 | +0.018% | $172.1M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,658.4 | +0.022% | $24.0M | $153.5M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,639 | 0.000% | $8.5M | $52.3M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,632 | −0.008% | $193K | $6.8M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,690.7 | +0.060% | $4.8M | $8.2M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 86,638.1 | −0.001% | $21.7M | $235.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 86,707 | +0.078% | $3.82B | $5.13B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 86,670.7 | +0.037% | $40.9M | $492.6M | 50x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,647 | +0.009% | $3.9M | $18.5M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,710.7 | +0.083% | $7.5M | $93.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,577.9 | −0.071% | $571.8M | $22.4M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,617.9 | −0.024% | $38.1M | $148.4M | 75x | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,587 | −0.060% | $279.7M | $950.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,622.1 | −0.020% | $217.5M | $187.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,626.6 | −0.014% | $141.4M | $322.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,606.5 | −0.037% | $30.8M | $205.3M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,686.9 | +0.055% | — | $11.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,642 | +0.003% | $11.1M | $13.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,627 | −0.014% | $196K | $3.4M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,630.8 | −0.009% | $2.5M | $8.5M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 86,641.5 | +0.003% | $141K | $619K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,620.4 | −0.021% | $30.0M | $61.6M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,612.9 | −0.030% | $3.4M | $5.5M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 86,614 | −0.029% | $60.5M | $336.4M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,598.6 | −0.047% | $2.30B | $956.9M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,628.2 | −0.012% | $46.4M | $227.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,616.1 | −0.026% | — | $98.4M | 500x | as long as short |
| Kraken Futures PF_XBTUSDshort | +0.0117% | 1h | 86,656.1 | +0.020% | $188.8M | $930.7M | 100x | |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,661.3 | +0.026% | $132.0M | $5.86B | 50x | as long as short |
| Kalshi KXBTCPERP | +0.0124% | 8h | 86,625 | −0.016% | $9.0M | $723.8M | 6.4x | as long as short |
| BloFin BTC-USDT | +0.0174% | 8h | 86,596.5 | −0.049% | $417.0M | $653.0M | 150x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0178% / S −0.0185% | 1h | 86,611.9 | −0.031% | $14.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 86,636.4 | −0.003% | $614K | $7.1M | 30x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Aevo BTC-PERP
RISEx BTC/USDC
Gate BTC_USDT
OKX BTC-USDT-SWAP
Bybit BTCUSDT
Variational Omni BTC
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
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