Funding you earn now, next payment 00:00 UTC+0.0575%/8h= +63.0% APRpaid last 24h −0.122%
Price spread now: Binance against Kraken Futures−0.119%7-day average −0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs−$92as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$670.671% of the position
Funding, last 7 days−0.249%−$25 on $10k
+Price spread, last 3 days (all we have)+0.216%+$22 · spread now −0.119%, 7d avg −0.055%
=Funding pays, the price is against you. Binance is 0.065% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.055%). If the spread goes back, that is −$6 on $10k: about 9 hours of funding at the current rate (+$17 a day). Mind the row above: over the last 7 days funding on this pair cost −0.249%, 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 -0.249% in total (about -13.0% 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_FETUSD | 0.2052 | −0.0475 | get 0.0059% / 1h | 53m 17s | $1.0M | $2.2M | 50x |
| Short | Binance FETUSDT | 0.2050 | 0.0100 | get 0.0100% / 8h | 53m 17s | $32.1M | $108.0M | 75x |
Kraken Futures PF_FETUSD
Binance FETUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- $120.78
- Price spread: −0.119% → −0.055%
- −$6.46
- Slippage, 4 orders
- −$47.13
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $47.19
- Costs to cover
- 0.671%
- Break-even
- 4.3 days
Slippage from Kraken Futures: live order book, 5 min ago; Binance: 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 Kraken Futures live order book, 5 min ago | 5.36 bp | 27.9 bp −$28 | 56.0 bp −$560 | doesn't fit | doesn't fit |
| Sell Binance live order book, 5 min ago | 2.44 bp | 12.0 bp −$12 | 22.8 bp −$228 | 118.0 bp −$11.8K | 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 | −0.3155% | 1h | 0.2049 | −0.162% | $28K | $200K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0728% | 1h | 0.2051 | −0.064% | $153K | $205K | 50x | as long as short |
| Kraken Futures PF_FETUSDlong | −0.0475% | 1h | 0.2052 | long leg | $1.0M | $2.2M | 50x | |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2049 | −0.174% | $32K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −2.062% | $3K | $166K | 12x | as long as short |
| Gate FET_USDT | +0.0070% | 8h | 0.2049 | −0.162% | $2.8M | $12.0M | 50x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2050 | −0.094% | $342K | $540K | 10x | as long as short |
| Binance FETUSDTshort | +0.0100% | 8h | 0.2050 | −0.119% | $32.1M | $108.0M | 75x | |
| MEXC FET_USDT | +0.0100% | 8h | 0.2050 | −0.113% | $34.4M | $24.8M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2050 | −0.113% | $10.6M | $19.1M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Gate FET_USDT
Aster FETUSDT
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 | 0.2046 | −0.297% | $289K | $327K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2049 | −0.162% | $38K | $5K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2050 | −0.133% | $34K | $190K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2049 | −0.153% | $14K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2049 | −0.162% | $1.7M | $2.7M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0318% | 4h | 0.2054 | +0.082% | $1.0M | $7.8M | 20x | as long as short |
| BingX FET-USDT | +0.0318% | 8h | 0.2051 | −0.064% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0339% | 8h | 0.2053 | +0.033% | $16.6M | $11.4M | 75x | as long as short |
| Phoenix FET | +0.0508% | 1h | 0.2048 | −0.196% | $36K | $45K | 5x | as long as short |
| Hyperliquid FET | +0.1022% | 1h | 0.2053 | +0.052% | $9.1M | $7.9M | 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
Phoenix FET
Hyperliquid FET