Funding you earn now, next payment 06:00 UTC+0.3730%/8h= +408.5% APRnext payment +$4.66 per $10,000 · paid last 24h +0.695%
Price spread now: Kraken Futures against Deribit+0.143%7-day average +0.061% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$730.727% of the position
Funding, last 6 days (all we have)+1.026%+$103 on $10k
+Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.143%, 7d avg +0.061%
=Both sides work for this trade now. Funding pays +$112 a day on $10k at the current rate, and Kraken Futures is 0.082% dearer against Deribit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.061%.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid 1.026% in total (about 63.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.66 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 | Deribit FET_USDC-PERPETUAL | 0.1983 | −0.3268 | get 0.0408% / 1h | 37m 00s | $38K | $298K | 10x |
| Short | Kraken Futures PF_FETUSD | 0.1986 | 0.0463 | get 0.0058% / 1h | 37m 00s | $967K | $2.2M | 50x |
Deribit FET_USDC-PERPETUAL
Kraken Futures PF_FETUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Deribit. 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
- $783.37
- Price spread: +0.143% → +0.061%
- $8.24
- Slippage, 4 orders
- −$55.68
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $718.93
- Costs to cover
- 0.727%
- Break-even
- 0.6 days
Slippage from Deribit: live order book, 12 min ago; Kraken Futures: 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 Deribit live order book, 12 min ago | 5.03 bp | 8.5 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 18.42 bp | 26.1 bp −$26 | 50.7 bp −$507 | 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-PERPETUALlong | −0.3268% | 1h | 0.1983 | long leg | $38K | $298K | 10x | |
| Coinbase International FET-PERP-INTX | −0.1152% | 1h | 0.1984 | +0.050% | $148K | $258K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.1982 | −0.054% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | +1.362% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.1984 | +0.050% | $190K | $810K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.1986 | +0.156% | $30.2M | $114.6M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.1982 | −0.050% | $2.6M | $12.8M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.1985 | +0.101% | $29.5M | $25.0M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.1985 | +0.101% | $10.4M | $18.5M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.1985 | +0.110% | $273K | $479K | — | as long as short |
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Binance FETUSDT
Gate FET_USDT
MEXC FET_USDT
KuCoin FETUSDTM
Variational Omni FETShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.1982 | −0.050% | $37K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.1986 | +0.130% | $33K | $198K | 10x | as long as short |
| BingX FET-USDT | +0.0193% | 8h | 0.1984 | +0.050% | — | $6.0M | — | as long as short |
| Bitget FETUSDT | +0.0199% | 8h | 0.1986 | +0.151% | $16.0M | $11.9M | 75x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.1981 | −0.114% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.1987 | +0.202% | $1.7M | $3.2M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0358% | 4h | 0.1986 | +0.151% | $977K | $8.1M | 20x | as long as short |
| Kraken Futures PF_FETUSDshort | +0.0463% | 1h | 0.1986 | +0.143% | $967K | $2.2M | 50x | |
| Phoenix FET | +0.0649% | 1h | 0.1984 | +0.076% | $34K | $37K | 5x | as long as short |
| Hyperliquid FET | +0.0877% | 1h | 0.1986 | +0.171% | $8.4M | $8.4M | 5x | as long as short |
Orderly PERP_FET_USDC
Extended FET-USD
BingX FET-USDT
Bitget FETUSDT
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
Phoenix FET
Hyperliquid FET