FIL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0306%/8h= −33.5% APRnext payment −$0.38 per $10,000 · paid last 24h −0.110%

Price spread now: Coinbase International against Kraken Futures−0.438%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$630.635% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 4 days (all we have)+0.352%+$35 · spread now −0.438%, 7d avg +0.049%

Together, before fees+0.250%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Coinbase International is 0.487% cheaper against Kraken Futures than usual: you would sell low and buy high (−$49 if the spread goes back to its 7-day average of +0.049%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.102% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.38 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_FILUSD	1.0095	0.0066	pay 0.0008% / 1h	53m 12s	$1.4M	$2.3M	50x
Short	Coinbase International FIL-PERP-INTX	1.0051	−0.0240	pay 0.0030% / 1h	53m 12s	$368K	$2.1M	50x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now −0.438%Rate

Funding earned: −$64.22
Price spread: −0.438% → +0.049%: −$48.7
Slippage, 4 orders: −$43.5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$176.42
Costs to cover: 0.635%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Coinbase International: live order book, 6 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	6.00 bp	17.6 bp −$18	31.8 bp −$318	doesn't fit	doesn't fit
Sell Coinbase International live order book, 6 min ago	6.51 bp	14.0 bp −$14	17.4 bp −$174	doesn't fit	doesn't fit

FIL on 29 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
Coinbase International FIL-PERP-INTXshort	−0.0240%	1h	1.0051	−0.438%	$368K	$2.1M	50x
Deribit FIL_USDC-PERPETUAL	−0.0047%	1h	1.0096	+0.007%	$174K	$23K	25x	as long as short
OKX FIL-USDT-SWAP	−0.0023%	8h	1.0088	−0.072%	$18.7M	$106.5M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	1.0089	−0.059%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	1.0057	−0.377%	$59K	$2K	10x	as long as short
KuCoin FILUSDTM	+0.0014%	8h	1.0089	−0.062%	$7.4M	$7.6M	50x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−2.380%	$2K	$240K	12x	as long as short
Kraken Futures PF_FILUSDlong	+0.0066%	1h	1.0095	long leg	$1.4M	$2.3M	50x
Lighter FIL	+0.0096%	1h	1.0089	−0.066%	$155K	$354K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	1.0077	−0.181%	$8.5M	$9.4M	5x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster FILUSDT	+0.0100%	8h	1.0077	−0.177%	$517K	$608K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	1.0092	−0.032%	$58.1M	$183.9M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	1.0089	−0.062%	$16.0M	$20.2M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	1.0079	−0.161%	$8.6M	$16.7M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	1.0087	−0.082%	$245K	$102K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	1.0087	−0.082%	$11.3M	$20.3M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	1.0088	−0.072%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	1.0017	−0.778%	$451K	$264K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	1.0036	−0.591%	$46K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9997	−0.977%	$289K	$1.0M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	1.0050	−0.448%	$31K	$181K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	1.0097	+0.019%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	1.0070	−0.250%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	1.0090	−0.052%	$490	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	1.0094	−0.013%	$631K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	1.0090	−0.052%	$1.2M	$2.5M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	1.0088	−0.070%	$711K	$3.3M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	1.0060	−0.349%	$2.7M	$670K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0576% / S −0.0237%	1h	1.0088	−0.077%	$269K	—	100x	as long as short