Funding you earn now, next payment 12:00 UTC+0.0151%/8h= +16.6% APRpaid last 24h −0.028%
Price spread now: Kraken Futures against Bitget+0.023%48s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.023% dearer against Bitget than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget COWUSDT | 0.1593 | 0.0100 | pay 0.0050% / 4h | 52m 26s | $378K | $205K | 50x |
| Short | Kraken Futures PF_COWUSD | 0.1593 | 0.0251 | get 0.0031% / 1h | 52m 26s | $5K | $95 | 10x |
Bitget COWUSDT
Kraken Futures PF_COWUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bitget. 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
- $31.75
- Price spread: +0.023% → 0.000%
- $2.33
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $12.08
- Costs to cover
- 0.220%
- Break-even
- 4.3 days
Slippage unknown: Bitget: live order book, 46 min ago; Kraken Futures: no order-book sample. Net counts fees only.
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 Bitget live order book, 46 min ago | 12.45 bp | 26.8 bp −$27 | 66.1 bp −$661 | doesn't fit | doesn't fit |
| Sell Kraken Futures no order-book sample | — | — | — | — | — |
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
COW on 11 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COW-USDT | +0.0052% | 4h | 0.1593 | 0.000% | $136K | $31K | 75x | as long as short |
| BingX COW-USDT | +0.0070% | 4h | 0.1595 | +0.126% | — | $6.6M | — | as long as short |
| Aster COWUSDT | +0.0100% | 4h | 0.1597 | +0.227% | $30K | $11K | 5x | as long as short |
| Binance COWUSDT | +0.0100% | 4h | 0.1595 | +0.126% | $2.1M | $3.0M | 50x | as long as short |
| Bybit COWUSDT | +0.0100% | 4h | 0.1596 | +0.169% | $966K | $449K | 25x | as long as short |
| Gate COW_USDT | +0.0100% | 4h | 0.1595 | +0.126% | $121K | $66K | 50x | as long as short |
| MEXC COW_USDT | +0.0100% | 4h | 0.1595 | +0.126% | $561K | $188K | 20x | as long as short |
| KuCoin COWUSDTM | +0.0100% | 4h | 0.1593 | 0.000% | $215K | $37K | 20x | as long as short |
| Bitget COWUSDTlong | +0.0100% | 4h | 0.1593 | long leg | $378K | $205K | 50x | |
| Variational Omni COW | +0.0100% | 4h | 0.1596 | +0.206% | $8K | $3K | — | as long as short |
BloFin COW-USDT
BingX COW-USDT
Aster COWUSDT
Binance COWUSDT
Bybit COWUSDT
Gate COW_USDT
MEXC COW_USDT
KuCoin COWUSDTM
Variational Omni COWShow all 11 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_COWUSDshort | +0.0251% | 1h | 0.1593 | +0.023% | $5K | $95 | 10x |