Funding you earn now, next payment 04:00 UTC−0.0829%/8h= −90.8% APRnext payment −$1.04 per $10,000 · paid last 24h −0.112%
Price spread now: Coinbase International against Kraken Futures−0.012%7-day average +0.265% · you buy dearer than you sell
Net, funding: paid 7d − costs−$202as in the Funding arb table
Net, price: spread back to 7d avg − costs−$195as in the Price arb table
costs, in and out, $10k−$1671.674% of the position
Funding, last 7 days−0.347%−$35 on $10k
+Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.012%, 7d avg +0.265%
=Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Coinbase International is 0.277% cheaper against Kraken Futures than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of +0.265%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.347% in total (about -18.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.04 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 | Kraken Futures PF_FETUSD | 0.2020 | −0.0363 | get 0.0045% / 1h | 57m 22s | $997K | $2.2M | 50x |
| Short | Coinbase International FET-PERP-INTX | 0.2020 | −0.1192 | pay 0.0149% / 1h | 57m 22s | $145K | $247K | 50x |
Kraken Futures PF_FETUSD
Coinbase International FET-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$174.15
- Price spread: −0.012% → +0.265%
- −$27.7
- Slippage, 4 orders
- −$147.43
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$369.28
- Costs to cover
- 1.674%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Coinbase International: live order book, 61 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, 1 min ago | 14.08 bp | 21.4 bp −$21 | 57.1 bp −$571 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 61 min ago | 9.80 bp | 56.8 bp −$57 | doesn't fit | 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 | −0.3697% | 1h | 0.2019 | −0.061% | $38K | $307K | 10x | as long as short |
| Coinbase International FET-PERP-INTXshort | −0.1192% | 1h | 0.2020 | −0.012% | $145K | $247K | 50x | |
| Kraken Futures PF_FETUSDlong | −0.0363% | 1h | 0.2020 | long leg | $997K | $2.2M | 50x | |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0011% | 1h | 0.2020 | −0.031% | $33K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | −0.507% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2022 | +0.082% | $195K | $812K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2021 | +0.040% | $31.0M | $113.2M | 75x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.2021 | +0.038% | $2.7M | $12.4M | 50x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2022 | +0.087% | $31.4M | $24.5M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2023 | +0.137% | $10.6M | $18.7M | 50x | as long as short |
Deribit FET_USDC-PERPETUAL
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Binance 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 | +0.194% | $339K | $418K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2018 | −0.111% | $38K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2018 | −0.117% | $33K | $253K | 10x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2020 | +0.004% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2023 | +0.137% | $1.7M | $3.1M | 100x | as long as short |
| BingX FET-USDT | +0.0249% | 8h | 0.2020 | −0.012% | — | $5.9M | — | as long as short |
| OKX FET-USDT-SWAP | +0.0249% | 4h | 0.2020 | −0.012% | $1.0M | $8.2M | 20x | as long as short |
| Bitget FETUSDT | +0.0259% | 8h | 0.2019 | −0.061% | $16.4M | $11.8M | 75x | as long as short |
| Hyperliquid FET | +0.0434% | 1h | 0.2024 | +0.162% | $8.8M | $8.5M | 5x | as long as short |
| Phoenix FET | +0.0505% | 1h | 0.2021 | +0.013% | $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
BingX FET-USDT
OKX FET-USDT-SWAP
Bitget FETUSDT
Hyperliquid FET
Phoenix FET