Funding you earn now, next payment 06:00 UTC+0.0044%/8h= +4.8% APRnext payment +$0.05 per $10,000 · paid last 24h −0.007%
Price spread now: Arcus against Kraken Futures−0.048%7-day average 0.000% · 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−$21as in the Price arb table
costs, in and out, $10k−$160.161% of the position
Funding, last 4 days (all we have)+0.035%+$3 on $10k
+Price spread, last 4 days (all we have)+0.090%+$9 · spread now −0.048%, 7d avg 0.000%
=Funding pays, the price is against you. Arcus is 0.048% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of 0.000%). If the spread goes back, that is −$5 on $10k: about 3.7 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XBTUSD | 85,420.5 | 0.0056 | pay 0.0007% / 1h | 55m 55s | $187.5M | $956.5M | 100x |
| Short | Arcus BTC-USD | 85,379.4 | 0.0100 | get 0.0013% / 1h | 55m 55s | $4.7M | $99.3M | 40x |
Kraken Futures PF_XBTUSD
Arcus BTC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus 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
- $9.23
- Price spread: −0.048% → 0.000%
- −$4.83
- Slippage, 4 orders
- −$1.57
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$11.67
- Costs to cover
- 0.161%
- Break-even
- 15.8 days
Slippage from Kraken Futures: live order book, 3 min ago; Arcus: 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 Kraken Futures live order book, 3 min ago | 0.06 bp | 5.1 bp −$5 | 5.8 bp −$58 | 7.3 bp −$735 | 9.2 bp −$4,604 |
| Sell Arcus live order book, 3 min ago | 0.01 bp | 2.7 bp −$3 | 3.2 bp −$32 | 4.7 bp −$472 | doesn't fit |
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 | −0.0140% | 1h | 85,413 | −0.009% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,374 | −0.054% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0053% | 8h | 85,381.2 | −0.046% | $920.3M | $760.2M | 125x | as long as short |
| BloFin BTC-USDT | −0.0031% | 8h | 85,453.7 | +0.039% | $422.3M | $676.6M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0016% | 1h | 85,376 | −0.052% | $381K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0011% | 8h | 85,380.3 | −0.047% | $514.0M | $1.10B | 200x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,409.1 | −0.013% | $16.8M | $21.2M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,370.2 | −0.059% | $539K | $18.8M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,415.4 | −0.006% | $36.5M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,449 | +0.033% | $339K | $26.8M | 52x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0045% | 1h | 85,383.1 | −0.044% | $24.3M | $223.2M | 50x | as long as short |
| Kraken Futures PF_XBTUSDlong | +0.0056% | 1h | 85,420.5 | long leg | $187.5M | $956.5M | 100x | |
| BingX BTC-USDC | +0.0063% | 8h | 85,363.3 | −0.067% | — | $17.3M | — | as long as short |
| Bullet BTC-USD | +0.0070% | 1h | 85,397.8 | −0.027% | $202K | $3.3M | 20x | as long as short |
| Phemex BTCUSDT | +0.0072% | 8h | 85,402.1 | −0.022% | $149.1M | $499.0M | 150x | as long as short |
| Bitget BTCUSDT | +0.0080% | 8h | 85,389.4 | −0.036% | $2.95B | $5.14B | 150x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,394.7 | −0.030% | $2.6M | $6.2M | 20x | as long as short |
| MEXC BTC_USDT | +0.0089% | 8h | 85,380 | −0.047% | $5.07B | $5.66B | 500x | as long as short |
| SoDEX BTC-USD | +0.0089% | 1h | 85,398 | −0.026% | $59.9M | $335.9M | 40x | as long as short |
| Binance BTCUSDT | +0.0090% | 8h | 85,387.9 | −0.038% | $9.44B | $24.66B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,405.4 | −0.018% | $171.9M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,414.4 | −0.007% | $23.9M | $147.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,373 | −0.056% | $8.4M | $55.2M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,437 | +0.019% | $117.2M | $5.28B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,349 | −0.084% | $239K | $8.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,415 | −0.007% | $5.6M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,462 | +0.049% | $3.78B | $5.03B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,424.2 | +0.004% | $40.1M | $593.1M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,387.6 | −0.039% | $5.18B | $9.88B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,390.4 | −0.035% | $2.59B | $12.13B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,420 | −0.001% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USDshort | +0.0100% | 1h | 85,379.4 | −0.048% | $4.7M | $99.3M | 40x | |
| Gate BTC_USDT | +0.0100% | 8h | 85,385.2 | −0.041% | $5.54B | $10.76B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,371.3 | −0.058% | $36.5M | $176.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,385.5 | −0.041% | $154.2M | $565.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,391.5 | −0.034% | $279.0M | $933.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,417.2 | −0.004% | $214.5M | $169.0M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,428.6 | +0.009% | $139.6M | $316.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,439.9 | +0.023% | $30.1M | $206.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,450.1 | +0.035% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,373 | −0.056% | $11.1M | $14.4M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,401.4 | −0.022% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,447.7 | +0.032% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,382.8 | −0.044% | $30.0M | $50.3M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,380.7 | −0.047% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,390.9 | −0.035% | $2.26B | $950.7M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,404.3 | −0.019% | $678.7M | $662.5M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0102% | 1h | 85,443 | +0.026% | $872.2M | $1.60B | 50x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,360.2 | −0.071% | $45.8M | $236.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,406.2 | −0.017% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0108% | 1h | 85,368.7 | −0.061% | $6.6M | $147.3M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0166% | 8h | 85,421 | +0.001% | $11.4M | $750.8M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,407.3 | −0.015% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0232% | 1h | 85,501.3 | +0.095% | $695K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0243% | 1h | 85,437.5 | +0.020% | $78K | $225K | 20x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,409.3 | −0.013% | $8.7M | $43.0M | 25x | as long as short |
Nado BTC-PERP
BingX BTC-USDC
Bullet BTC-USD
Phemex BTCUSDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
SoDEX BTC-USD
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
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
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Deribit BTC-PERPETUAL
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
RISEx BTC/USDC