Funding you earn now, next payment 05:00 UTC−0.0462%/8h= −50.6% APRpaid last 24h +0.061%
Price spread now: Kraken Futures against Binance+0.109%7-day average +0.055% · 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−$58as in the Price arb table
costs, in and out, $10k−$640.636% of the position
Funding, last 7 days+0.176%+$18 on $10k
+Price spread, last 4 days (all we have)−0.293%−$29 · spread now +0.109%, 7d avg +0.055%
=The price spread pays, funding is against you. Kraken Futures is 0.053% dearer against Binance than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of +0.055%): +$5 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 9 hours. Mind the row above: over the last 7 days funding on this pair paid +0.176%, 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 0.176% in total (about 9.2% 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 | Binance FETUSDT | 0.2021 | 0.0100 | pay 0.0100% / 8h | 3h 58m | $31.0M | $113.2M | 75x |
| Short | Kraken Futures PF_FETUSD | 0.2023 | −0.0362 | pay 0.0045% / 1h | 58m 33s | $999K | $2.2M | 50x |
Binance FETUSDT
Kraken Futures PF_FETUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- −$97.06
- Price spread: +0.109% → +0.055%
- $5.33
- Slippage, 4 orders
- −$43.62
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$155.35
- Costs to cover
- 0.636%
- Break-even
- never at this rate
Slippage from Binance: live order book, 14 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 Binance live order book, 14 min ago | 2.48 bp | 10.9 bp −$11 | 22.7 bp −$227 | 189.0 bp −$18.9K | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 9.64 bp | 21.1 bp −$21 | 63.0 bp −$630 | doesn't fit | doesn't fit |
FET on 20 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 FET_USDC-PERPETUAL | −0.3691% | 1h | 0.2022 | +0.049% | $38K | $307K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.1192% | 1h | 0.2024 | +0.148% | $145K | $248K | 50x | as long as short |
| Kraken Futures PF_FETUSDshort | −0.0362% | 1h | 0.2023 | +0.109% | $999K | $2.2M | 50x | |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0011% | 1h | 0.2021 | −0.002% | $33K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −0.544% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2021 | −0.017% | $195K | $812K | 10x | as long as short |
| Binance FETUSDTlong | +0.0100% | 8h | 0.2021 | long leg | $31.0M | $113.2M | 75x | |
| Gate FET_USDT | +0.0100% | 8h | 0.2021 | 0.000% | $2.7M | $12.4M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2023 | +0.099% | $31.4M | $24.5M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2022 | +0.049% | $10.6M | $18.7M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTMShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni FET | +0.0100% | 8h | 0.2024 | +0.156% | $339K | $418K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2020 | −0.049% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2022 | +0.037% | $33K | $253K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2020 | −0.055% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2023 | +0.099% | $1.7M | $3.1M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0246% | 4h | 0.2024 | +0.148% | $1.0M | $8.2M | 20x | as long as short |
| BingX FET-USDT | +0.0250% | 8h | 0.2022 | +0.049% | — | $5.9M | — | as long as short |
| Bitget FETUSDT | +0.0260% | 8h | 0.2023 | +0.099% | $16.4M | $11.8M | 75x | as long as short |
| Hyperliquid FET | +0.0367% | 1h | 0.2024 | +0.134% | $8.8M | $8.4M | 5x | as long as short |
| Phoenix FET | +0.0505% | 1h | 0.2021 | −0.025% | $35K | $37K | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
BingX FET-USDT
Bitget FETUSDT
Hyperliquid FET
Phoenix FET