Funding you earn now, next payment 09:00 UTC−0.0460%/8h= −50.4% APRpaid last 24h −0.130%
Price spread now: Binance against Kraken Futures−0.245%7-day average −0.062% · you buy dearer than you sell
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs−$124as in the Price arb table
costs, in and out, $10k−$1061.055% of the position
Funding, last 7 days+0.049%+$5 on $10k
+Price spread, last 4 days (all we have)+0.222%+$22 · spread now −0.245%, 7d avg −0.062%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Binance is 0.183% cheaper against Kraken Futures than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.062%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.049% in total (about 2.5% 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_GALAUSD | 0.002073 | 0.0560 | pay 0.0070% / 1h | 55m 58s | $669K | $240K | 25x |
| Short | Binance GALAUSDT | 0.002068 | 0.0100 | get 0.0100% / 8h | 7h 55m | $5.4M | $17.1M | 75x |
Kraken Futures PF_GALAUSD
Binance GALAUSDTFunding 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
- −$96.61
- Price spread: −0.245% → −0.062%
- −$18.33
- Slippage, 4 orders
- −$85.55
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$220.48
- Costs to cover
- 1.055%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 42 min ago; Binance: live order book, 15 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, 42 min ago | 12.10 bp | 31.6 bp −$32 | 115.3 bp −$1,153 | doesn't fit | doesn't fit |
| Sell Binance live order book, 15 min ago | 2.41 bp | 16.9 bp −$17 | 46.0 bp −$460 | 407.7 bp −$40.8K | doesn't fit |
GALA on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective GALA/USDC PERP | +0.0033% | 1h | 0.002110 | +1.769% | $2K | $7K | 5.5x | as long as short |
| Hyperliquid GALA | +0.0100% | 1h | 0.002070 | −0.160% | $302K | $145K | 3x | as long as short |
| Aster GALAUSDT | +0.0100% | 8h | 0.002073 | −0.023% | $16K | $8K | 5x | as long as short |
| Binance GALAUSDTshort | +0.0100% | 8h | 0.002068 | −0.245% | $5.4M | $17.1M | 75x | |
| Bybit GALAUSDT | +0.0100% | 8h | 0.002068 | −0.257% | $6.0M | $6.0M | 75x | as long as short |
| OKX GALA-USDT-SWAP | +0.0100% | 8h | 0.002066 | −0.353% | $2.1M | $4.1M | 50x | as long as short |
| Gate GALA_USDT | +0.0100% | 8h | 0.002072 | −0.064% | $1.8M | $1.5M | 75x | as long as short |
| MEXC GALA_USDT | +0.0100% | 8h | 0.002069 | −0.209% | $5.5M | $3.2M | 125x | as long as short |
| KuCoin GALAUSDTM | +0.0100% | 8h | 0.002063 | −0.498% | $1.7M | $4.5M | 75x | as long as short |
| Bitget GALAUSDT | +0.0100% | 8h | 0.002067 | −0.305% | $2.1M | $1.4M | 75x | as long as short |
Injective GALA/USDC PERP
Hyperliquid GALA
Aster GALAUSDT
Bybit GALAUSDT
OKX GALA-USDT-SWAP
Gate GALA_USDT
MEXC GALA_USDT
KuCoin GALAUSDTM
Bitget GALAUSDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX GALA-USDT | +0.0100% | 8h | 0.002071 | −0.112% | — | $13.7M | — | as long as short |
| Variational Omni GALA | +0.0100% | 8h | 0.002069 | −0.222% | $25K | $14K | — | as long as short |
| Extended GALA-USD | +0.0104% | 1h | 0.002071 | −0.131% | $2K | $191K | 5x | as long as short |
| BloFin GALA-USDT | +0.0113% | 8h | 0.002072 | −0.064% | $301K | $65K | 20x | as long as short |
| Kraken Futures PF_GALAUSDlong | +0.0560% | 1h | 0.002073 | long leg | $669K | $240K | 25x |
BingX GALA-USDT
Variational Omni GALA
Extended GALA-USD
BloFin GALA-USDT