Funding you earn now, next payment 06:00 UTC−0.0623%/8h= −68.2% APRpaid last 24h −0.156%
Price spread now: Kraken Futures against BloFin+0.357%57s7-day average +0.098% · you sell dearer than you buy
Net, funding: paid 7d − costs−$107as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$900.902% of the position
Funding, last 7 days−0.170%−$17 on $10k
+Price spread, last 4 days (all we have)−0.168%−$17 · spread now +0.357%, 7d avg +0.098%
=The price spread pays, funding is against you. Kraken Futures is 0.259% dearer against BloFin than usual: you sell high and buy low (spread +0.357% now, against its 7-day average of +0.098%): +$26 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 7 days (−0.170% in total) that is about 11 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.170% in total (about -8.9% a year). A funding rate is set anew for every payment. 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 | BloFin ETHFI-USDT | 0.7018 | 0.0217 | pay 0.0108% / 4h | 2h 15m | $1.2M | $241K | 75x |
| Short | Kraken Futures PF_ETHFIUSD | 0.7043 | −0.0406 | pay 0.0051% / 1h | 15m 23s | $289K | $286K | 20x |
BloFin ETHFI-USDT
Kraken Futures PF_ETHFIUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BloFin. 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
- −$130.85
- Price spread: +0.357% → +0.098%
- $25.95
- Slippage, 4 orders
- −$68.21
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$195.11
- Costs to cover
- 0.902%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 2 min ago; Kraken Futures: live order book, 32 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 BloFin live order book, 2 min ago | 2.14 bp | 9.0 bp −$9 | 18.1 bp −$181 | 77.4 bp −$7,736 | doesn't fit |
| Sell Kraken Futures live order book, 32 min ago | 12.19 bp | 25.7 bp −$26 | 119.0 bp −$1,190 | doesn't fit | doesn't fit |
ETHFI on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ETHFIUSDshort | −0.0406% | 1h | 0.7043 | +0.357% | $289K | $286K | 20x | |
| HTX ETHFI-USDT | −0.0320% | 4h | 0.7010 | −0.114% | $81K | $171K | 20x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0261% | 4h | 0.7037 | +0.271% | $16K | $1K | 10x | as long as short |
| Bybit ETHFIUSDT | −0.0202% | 4h | 0.7038 | +0.285% | $17.6M | $13.0M | 25x | as long as short |
| Deribit ETHFI_USDC-PERPETUAL | −0.0176% | 1h | 0.7034 | +0.228% | $40K | $10K | 10x | as long as short |
| Variational Omni ETHFI | −0.0146% | 4h | 0.7027 | +0.126% | $932K | $782K | — | as long as short |
| Extended ETHFI-USD | −0.0024% | 1h | 0.7035 | +0.245% | $95K | $502K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0020% | 4h | 0.7035 | +0.242% | $15.8M | $4.1M | 125x | as long as short |
| Binance ETHFIUSDT | −0.0019% | 4h | 0.7036 | +0.252% | $24.5M | $35.8M | 75x | as long as short |
| Paradex ETHFI-USD-PERP | +0.0004% | 8h | 0.7035 | +0.242% | $6K | — | 5x | as long as short |
HTX ETHFI-USDT
Orderly PERP_ETHFI_USDC
Bybit ETHFIUSDT
Deribit ETHFI_USDC-PERPETUAL
Variational Omni ETHFI
Extended ETHFI-USD
MEXC ETHFI_USDT
Binance ETHFIUSDT
Paradex ETHFI-USD-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +3.163% | $321 | $51K | 5.5x | as long as short |
| Aster ETHFIUSDT | +0.0059% | 4h | 0.7042 | +0.336% | $180K | $260K | 10x | as long as short |
| Aevo ETHFI-PERP | +0.0072% | 1h | 0.7027 | +0.133% | $8K | — | 3x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.7044 | +0.373% | $1.1M | $831K | 5x | as long as short |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.7041 | +0.328% | $17.0M | $8.5M | 5x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.7041 | +0.328% | $5.2M | $12.7M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.7040 | +0.313% | $1.7M | $2.0M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.7036 | +0.256% | $1.2M | $230K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.7036 | +0.256% | $6.1M | $5.0M | 75x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.7039 | +0.299% | — | $1.2M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.7042 | +0.341% | $63K | $127K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.7039 | +0.299% | $2K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDTlong | +0.0217% | 4h | 0.7018 | long leg | $1.2M | $241K | 75x | |
| Coinbase International ETHFI-PERP-INTX | +0.0376% | 1h | 0.7043 | +0.356% | $32K | $6K | 50x | as long as short |
Injective ETHFI/USDC PERP
Aster ETHFIUSDT
Aevo ETHFI-PERP
Lighter ETHFI
Hyperliquid ETHFI
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDC
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Coinbase International ETHFI-PERP-INTX