Funding you earn now, next payment 06:00 UTC+0.0511%/8h= +56.0% APRpaid last 24h +0.080%
Price spread now: OKX against Kraken Futures−0.094%7-day average −0.058% · you buy dearer than you sell
Net, funding: paid 7d − costs−$125as in the Funding arb table
Net, price: spread back to 7d avg − costs−$97as in the Price arb table
costs, in and out, $10k−$940.935% of the position
Funding, last 7 days−0.315%−$32 on $10k
+Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.094%, 7d avg −0.058%
=Funding pays, the price is against you. OKX is 0.036% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.094% now, against its 7-day average of −0.058%). If the spread goes back, that is −$4 on $10k: about 6 hours of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.315%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.315% in total (about -16.4% 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 | Kraken Futures PF_ETHFIUSD | 0.6961 | −0.0411 | get 0.0051% / 1h | 36m 11s | $285K | $277K | 20x |
| Short | OKX ETHFI-USDT-SWAP | 0.6954 | 0.0100 | get 0.0050% / 4h | 2h 36m | $5.0M | $12.3M | 20x |
Kraken Futures PF_ETHFIUSD
OKX ETHFI-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $107.33
- Price spread: −0.094% → −0.058%
- −$3.63
- Slippage, 4 orders
- −$73.51
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $10.19
- Costs to cover
- 0.935%
- Break-even
- 6.3 days
Slippage from Kraken Futures: live order book, 11 min ago; OKX: live order book, 2 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, 11 min ago | 12.19 bp | 39.6 bp −$40 | 191.4 bp −$1,914 | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 1.44 bp | 13.7 bp −$14 | 43.7 bp −$437 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETHFI_USDC-PERPETUAL | −0.0470% | 1h | 0.6942 | −0.267% | $39K | $10K | 10x | as long as short |
| Kraken Futures PF_ETHFIUSDlong | −0.0411% | 1h | 0.6961 | long leg | $285K | $277K | 20x | |
| HTX ETHFI-USDT | −0.0409% | 4h | 0.6940 | −0.295% | $80K | $183K | 20x | as long as short |
| Bybit ETHFIUSDT | −0.0282% | 4h | 0.6949 | −0.166% | $17.3M | $12.8M | 25x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0263% | 4h | 0.6938 | −0.324% | $16K | $1K | 10x | as long as short |
| Variational Omni ETHFI | −0.0092% | 4h | 0.6932 | −0.404% | $947K | $722K | — | as long as short |
| Binance ETHFIUSDT | −0.0024% | 4h | 0.6947 | −0.195% | $24.1M | $35.6M | 75x | as long as short |
| Extended ETHFI-USD | −0.0024% | 1h | 0.6937 | −0.344% | $94K | $502K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0022% | 4h | 0.6945 | −0.223% | $15.7M | $4.1M | 125x | as long as short |
| Aster ETHFIUSDT | −0.0002% | 4h | 0.6951 | −0.140% | $178K | $260K | 10x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Bybit ETHFIUSDT
Orderly PERP_ETHFI_USDC
Variational Omni ETHFI
Binance ETHFIUSDT
Extended ETHFI-USD
MEXC ETHFI_USDT
Aster ETHFIUSDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex ETHFI-USD-PERP | +0.0005% | 8h | 0.6948 | −0.181% | $6K | — | 5x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +4.015% | $321 | $51K | 5.5x | as long as short |
| Aevo ETHFI-PERP | +0.0072% | 1h | 0.6943 | −0.256% | $8K | — | 3x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.6950 | −0.152% | $1.1M | $831K | 5x | as long as short |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6951 | −0.143% | $16.9M | $8.4M | 5x | as long as short |
| OKX ETHFI-USDT-SWAPshort | +0.0100% | 4h | 0.6954 | −0.094% | $5.0M | $12.3M | 20x | |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6951 | −0.137% | $1.7M | $2.0M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6947 | −0.195% | $1.2M | $232K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6946 | −0.209% | $6.0M | $5.3M | 75x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.6950 | −0.152% | — | $1.2M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.6952 | −0.120% | $63K | $127K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6959 | −0.022% | $2K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0217% | 4h | 0.6942 | −0.267% | $1.2M | $237K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0376% | 1h | 0.7054 | +1.342% | $31K | $5K | 50x | as long as short |
Paradex ETHFI-USD-PERP
Injective ETHFI/USDC PERP
Aevo ETHFI-PERP
Lighter ETHFI
Hyperliquid ETHFI
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDC
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX