Funding you earn now, next payment 01:00 UTC−0.0469%/8h= −51.3% APRnext payment −$0.59 per $10,000 · paid last 24h −0.022%
Price spread now: Kraken Futures against Backpack+0.060%7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$59as in the Price arb table
costs, in and out, $10k−$610.608% of the position
Funding, last 7 days+0.060%+$6 on $10k
+Price spread, last 3 days (all we have)+0.008%+$1 · spread now +0.060%, 7d avg +0.038%
=The price spread pays, funding is against you. Kraken Futures is 0.022% dearer against Backpack than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of +0.038%): +$2 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 4 hours. Mind the row above: over the last 7 days funding on this pair paid +0.060%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.060% in total (about 3.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.59 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack CRV_USDC_PERP | 0.3681 | 0.0556 | pay 0.0070% / 1h | 14m 56s | $99K | $295K | 10x |
| Short | Kraken Futures PF_CRVUSD | 0.3683 | 0.0088 | get 0.0011% / 1h | 14m 56s | $3.1M | $2.8M | 50x |
Backpack CRV_USDC_PERP
Kraken Futures PF_CRVUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Backpack. 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
- −$98.45
- Price spread: +0.060% → +0.038%
- $2.2
- Slippage, 4 orders
- −$40.78
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$157.03
- Costs to cover
- 0.608%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 58 min ago; Kraken Futures: live order book, 4 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 Backpack live order book, 58 min ago | 0.96 bp | 7.6 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 6.83 bp | 21.1 bp −$21 | 46.0 bp −$460 | doesn't fit | doesn't fit |
CRV on 30 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 CRV | −0.0087% | 1h | 0.3668 | −0.369% | $26K | $168K | 10x | as long as short |
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3677 | −0.116% | $16 | — | 15x | as long as short |
| Deribit CRV_USDC-PERPETUAL | −0.0022% | 1h | 0.3677 | −0.114% | $57K | $50K | 25x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3675 | −0.157% | $38K | $5K | 10x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | −0.304% | $79 | $384K | 12x | as long as short |
| Kraken Futures PF_CRVUSDshort | +0.0088% | 1h | 0.3683 | +0.060% | $3.1M | $2.8M | 50x | |
| Lighter CRV | +0.0096% | 1h | 0.3679 | −0.057% | $411K | $727K | 10x | as long as short |
| Orderly PERP_CRV_USDC | +0.0096% | 8h | 0.3679 | −0.060% | $25K | $929 | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3679 | −0.061% | $131K | $182K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3675 | −0.168% | $374K | $211K | 10x | as long as short |
Phoenix CRV
Reya CRVRUSDPERP
Deribit CRV_USDC-PERPETUAL
dYdX CRV-USD
Injective CRV/USDC PERP
Lighter CRV
Orderly PERP_CRV_USDC
Aster CRVUSDT
Pacifica CRVShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance CRVUSDT | +0.0100% | 8h | 0.3679 | −0.060% | $25.7M | $55.8M | 75x | as long as short |
| Bybit CRVUSDT | +0.0100% | 8h | 0.3677 | −0.114% | $28.1M | $17.5M | 75x | as long as short |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3677 | −0.114% | $8.8M | $21.5M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3680 | −0.033% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3678 | −0.087% | $15.2M | $5.2M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3679 | −0.060% | $6.6M | $9.2M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3681 | −0.005% | $7.0M | $5.6M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3678 | −0.087% | — | $1.7M | — | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3674 | −0.197% | $1.1M | $114K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3668 | −0.363% | $38K | $173K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3669 | −0.325% | $518K | $417K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3671 | −0.277% | $53K | $698K | 50x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3716 | +0.945% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3677 | −0.109% | $244K | $888K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3678 | −0.087% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3674 | −0.196% | $1.4M | $4.3M | 75x | as long as short |
| Hyperliquid CRV | +0.0313% | 1h | 0.3684 | +0.076% | $22.9M | $16.5M | 10x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0384% | 1h | 0.3679 | −0.060% | $390K | $4.7M | 50x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0417% / S −0.0174% | 1h | 0.3678 | −0.081% | $219K | — | 100x | as long as short |
| Backpack CRV_USDC_PERPlong | +0.0556% | 1h | 0.3681 | long leg | $99K | $295K | 10x |
Binance CRVUSDT
Bybit CRVUSDT
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
Hyperliquid CRV
Coinbase International CRV-PERP-INTX
GMX CRV/USD [ETH-USDC]