Funding you earn now, next payment 22:00 UTC−0.3750%/8h= −410.7% APRnext payment −$4.69 per $10,000 · paid last 24h −0.446%
Price spread now: Deribit against Kraken Futures−0.214%7-day average −0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$92as in the Price arb table
costs, in and out, $10k−$760.756% of the position
Funding, last 6 days (all we have)−0.680%−$68 on $10k
+Price spread, last 3 days (all we have)+0.214%+$21 · spread now −0.214%, 7d avg −0.054%
=Both sides work against this trade now: funding costs −$113 a day on $10k at the current rate, and Deribit is 0.160% cheaper against Kraken Futures than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.054%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid -0.680% in total (about -44.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.69 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 | 0.2012 | 0.0032 | pay 0.0004% / 1h | 28m 11s | $1.0M | $2.1M | 50x |
| Short | Deribit FET_USDC-PERPETUAL | 0.2008 | −0.3718 | pay 0.0465% / 1h | 28m 11s | $26K | $230K | 10x |
Kraken Futures PF_FETUSD
Deribit FET_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$787.59
- Price spread: −0.214% → −0.054%
- −$15.95
- Slippage, 4 orders
- −$58.64
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$879.18
- Costs to cover
- 0.756%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Deribit: live order book, 60 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 | 18.18 bp | 28.4 bp −$28 | 65.5 bp −$655 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 60 min ago | 7.40 bp | 10.9 bp −$11 | 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-PERPETUALshort | −0.3718% | 1h | 0.2008 | −0.214% | $26K | $230K | 10x | |
| Coinbase International FET-PERP-INTX | −0.0480% | 1h | 0.2017 | +0.234% | $161K | $188K | 50x | as long as short |
| Gate FET_USDT | −0.0052% | 8h | 0.2006 | −0.313% | $2.7M | $11.8M | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0012% | 1h | 0.2008 | −0.224% | $32K | — | 150x | as long as short |
| Kraken Futures PF_FETUSDlong | +0.0032% | 1h | 0.2012 | long leg | $1.0M | $2.1M | 50x | |
| Aster FETUSDT | +0.0100% | 8h | 0.2008 | −0.214% | $345K | $527K | 10x | as long as short |
| Binance FETUSDT | +0.0100% | 8h | 0.2013 | +0.047% | $31.4M | $107.1M | 75x | as long as short |
| OKX FET-USDT-SWAP | +0.0100% | 4h | 0.2015 | +0.134% | $855K | $7.5M | 20x | as long as short |
| MEXC FET_USDT | +0.0100% | 8h | 0.2008 | −0.214% | $34.9M | $25.3M | 200x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2007 | −0.263% | $10.4M | $19.0M | 50x | as long as short |
Coinbase International FET-PERP-INTX
Gate FET_USDT
gTrade (Gains Network) FET/USD
Aster FETUSDT
Binance FETUSDT
OKX FET-USDT-SWAP
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 | 0.2005 | −0.342% | $271K | $315K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2007 | −0.263% | $37K | $5K | 10x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2009 | −0.174% | $32K | $144K | 10x | as long as short |
| BingX FET-USDT | +0.0155% | 8h | 0.2010 | −0.114% | — | $5.6M | — | as long as short |
| Bitget FETUSDT | +0.0174% | 8h | 0.2011 | −0.064% | $16.4M | $11.4M | 75x | as long as short |
| Hyperliquid FET | +0.0179% | 1h | 0.2011 | −0.084% | $9.0M | $7.6M | 5x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0278% | 1h | 0.2006 | −0.303% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0220% | 8h | 0.2005 | −0.363% | $1.7M | $2.6M | 100x | as long as short |
| Injective FET/USDC PERP | +0.0371% | 1h | 0.2030 | +0.880% | $3K | $118K | 12x | as long as short |
| Phoenix FET | +0.0476% | 1h | 0.2010 | −0.129% | $27K | $37K | 5x | as long as short |
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USD
BingX FET-USDT
Bitget FETUSDT
Hyperliquid FET
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
Injective FET/USDC PERP
Phoenix FET