Funding you earn now, next payment 06:00 UTC+0.1340%/8h= +146.7% APRnext payment +$1.67 per $10,000 · paid last 24h +0.138%
Price spread now: Kraken Futures against Coinbase International−0.144%7-day average −0.260% · you buy dearer than you sell
Net, funding: paid 7d − costs−$130as in the Funding arb table
Net, price: spread back to 7d avg − costs−$155as in the Price arb table
costs, in and out, $10k−$1671.665% of the position
Funding, last 7 days+0.363%+$36 on $10k
+Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.144%, 7d avg −0.260%
=Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and Kraken Futures is 0.116% dearer against Coinbase International than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.260%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.363% in total (about 18.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.67 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 | Coinbase International FET-PERP-INTX | 0.1997 | −0.0688 | get 0.0086% / 1h | 35m 59s | $150K | $260K | 50x |
| Short | Kraken Futures PF_FETUSD | 0.1994 | 0.0652 | get 0.0081% / 1h | 35m 59s | $1.0M | $2.1M | 50x |
Coinbase International FET-PERP-INTX
Kraken Futures PF_FETUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Coinbase International. 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
- $281.35
- Price spread: −0.144% → −0.260%
- $11.55
- Slippage, 4 orders
- −$146.54
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $126.35
- Costs to cover
- 1.665%
- Break-even
- 3.9 days
Slippage from Coinbase International: live order book, 7 min ago; Kraken Futures: live order book, 3 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 Coinbase International live order book, 7 min ago | 10.02 bp | 60.6 bp −$61 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 8.51 bp | 24.2 bp −$24 | 48.1 bp −$481 | 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 | −0.5245% | 1h | 0.1991 | −0.300% | $41K | $312K | 10x | as long as short |
| Coinbase International FET-PERP-INTXlong | −0.0688% | 1h | 0.1997 | long leg | $150K | $260K | 50x | |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.1989 | −0.425% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | +0.651% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.1993 | −0.219% | $189K | $817K | 10x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.1990 | −0.351% | $2.6M | $12.8M | 50x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.1992 | −0.250% | $10.4M | $18.4M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.1998 | +0.058% | $284K | $491K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.1989 | −0.401% | $37K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.1990 | −0.350% | $33K | $201K | 10x | as long as short |
Deribit FET_USDC-PERPETUAL
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Gate FET_USDT
KuCoin FETUSDTM
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USDShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC FET_USDT | +0.0104% | 8h | 0.1991 | −0.300% | $29.1M | $25.2M | 200x | as long as short |
| Binance FETUSDT | +0.0104% | 8h | 0.1992 | −0.235% | $30.3M | $115.0M | 75x | as long as short |
| Bitget FETUSDT | +0.0190% | 8h | 0.1991 | −0.300% | $16.2M | $11.9M | 75x | as long as short |
| BingX FET-USDT | +0.0190% | 8h | 0.1992 | −0.250% | — | $5.9M | — | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.1989 | −0.421% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0224% | 8h | 0.1994 | −0.150% | $1.7M | $3.2M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0428% | 4h | 0.1993 | −0.200% | $982K | $8.1M | 20x | as long as short |
| Hyperliquid FET | +0.0590% | 1h | 0.1992 | −0.245% | $8.4M | $8.5M | 5x | as long as short |
| Phoenix FET | +0.0635% | 1h | 0.1998 | +0.055% | $35K | $38K | 5x | as long as short |
| Kraken Futures PF_FETUSDshort | +0.0652% | 1h | 0.1994 | −0.144% | $1.0M | $2.1M | 50x |
MEXC FET_USDT
Binance FETUSDT
Bitget FETUSDT
BingX FET-USDT
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
Hyperliquid FET
Phoenix FET