Funding you earn now, next payment 03:00 UTC+0.0309%/8h= +33.9% APRnext payment +$0.39 per $10,000 · paid last 24h −0.029%
Price spread now: Kraken Futures against Backpack+0.012%7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$440.437% of the position
Funding, last 7 days−0.020%−$2 on $10k
+Price spread, last 4 days (all we have)−0.203%−$20 · spread now +0.012%, 7d avg +0.035%
=Funding pays, the price is against you. Kraken Futures is 0.023% cheaper against Backpack than usual: you would sell low and buy high (spread +0.012% now, against its 7-day average of +0.035%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$9 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.020% in total (about -1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.39 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 DOT_USDC_PERP | 1.1968 | 0.0100 | pay 0.0013% / 1h | 18m 59s | $93K | $131K | 10x |
| Short | Kraken Futures PF_DOTUSD | 1.1969 | 0.0409 | get 0.0051% / 1h | 18m 59s | $4.5M | $1.5M | 50x |
Backpack DOT_USDC_PERP
Kraken Futures PF_DOTUSDFunding 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
- $64.97
- Price spread: +0.012% → +0.035%
- −$2.29
- Slippage, 4 orders
- −$23.65
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $19.03
- Costs to cover
- 0.437%
- Break-even
- 5.0 days
Slippage from Backpack: live order book, 44 min ago; Kraken Futures: live order book, 5 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, 44 min ago | 0.42 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 1.67 bp | 14.5 bp −$15 | 28.3 bp −$283 | 135.6 bp −$13.6K | doesn't fit |
DOT on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit DOT_USDC-PERPETUAL | −0.2001% | 1h | 1.1970 | +0.017% | $228K | $115K | 50x | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0376% | 1h | 1.1980 | +0.100% | $197K | $2.0M | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1971 | +0.022% | $259 | — | — | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1976 | +0.064% | $144K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1974 | +0.054% | $3K | — | 150x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | +0.434% | $328 | $121K | 12x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1971 | +0.022% | $271K | $632K | 10x | as long as short |
| OKX DOT-USDT-SWAP | +0.0098% | 8h | 1.1967 | −0.008% | $9.4M | $24.2M | 50x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1969 | +0.008% | $5.4M | $3.5M | 10x | as long as short |
| Aster DOTUSDT | +0.0100% | 8h | 1.1976 | +0.070% | $864K | $707K | 50x | as long as short |
Deribit DOT_USDC-PERPETUAL
Coinbase International DOT-PERP-INTX
Reya DOTRUSDPERP
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
Injective DOT/USDC PERP
Lighter DOT
OKX DOT-USDT-SWAP
Hyperliquid DOT
Aster DOTUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOTUSDT | +0.0100% | 8h | 1.1973 | +0.041% | $44.0M | $85.3M | 75x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1967 | −0.008% | $24.6M | $19.0M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1970 | +0.017% | $6.8M | $11.8M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.1968 | 0.000% | $32.7M | $49.7M | 300x | as long as short |
| KuCoin DOTUSDTM | +0.0100% | 8h | 1.1964 | −0.033% | $6.6M | $9.2M | 75x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1960 | −0.067% | $22.8M | $14.9M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.1966 | −0.017% | — | $29.7M | — | as long as short |
| Backpack DOT_USDC_PERPlong | +0.0100% | 1h | 1.1968 | long leg | $93K | $131K | 10x | |
| Variational Omni DOT | +0.0100% | 8h | 1.1983 | +0.128% | $545K | $58K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1987 | +0.155% | $35K | $335K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.2011 | +0.358% | $229K | $427K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1970 | +0.017% | $8K | $24K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1983 | +0.125% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1962 | −0.050% | $260K | $242K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.1960 | −0.064% | $14K | $305K | 25x | as long as short |
| BloFin DOT-USDT | +0.0220% | 8h | 1.1978 | +0.084% | $2.2M | $879K | 75x | as long as short |
| Phemex DOTUSDT | +0.0251% | 8h | 1.1970 | +0.017% | $2.3M | $2.2M | 50x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0303% / S −0.1012% | 1h | 1.1973 | +0.043% | $22K | — | 100x | as long as short |
| Kraken Futures PF_DOTUSDshort | +0.0409% | 1h | 1.1969 | +0.012% | $4.5M | $1.5M | 50x |
Binance DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
KuCoin DOTUSDTM
Bitget DOTUSDT
BingX DOT-USDT
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
Extended DOT-USD
BloFin DOT-USDT
Phemex DOTUSDT
GMX DOT/USD [WBTC.b-USDC]