Funding you earn now, next payment 05:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.038%
Price spread now: Binance against Kraken Futures−0.114%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.114% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_METISUSD | 3.4650 | 0.0186 | pay 0.0023% / 1h | 1m 37s | $2K | $2K | 10x |
| Short | Binance METISUSDT | 3.4610 | 0.0100 | get 0.0050% / 4h | 3h 01m | $2.1M | $4.2M | 50x |
Kraken Futures PF_METISUSD
Binance METISUSDTFunding 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
- −$18.01
- Price spread: −0.114% → 0.000%
- −$11.43
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$49.44
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 5 min ago. Net counts fees only.
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 no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 5 min ago | 2.88 bp | 35.1 bp −$35 | 191.1 bp −$1,911 | doesn't fit | doesn't fit |
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
METIS on 12 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 METIS/USDC PERP | +0.0033% | 1h | 3.2100 | −7.358% | — | $40K | 5.5x | as long as short |
| Aster METISUSDT | +0.0100% | 4h | 3.4641 | −0.025% | $11K | $24K | 5x | as long as short |
| Binance METISUSDTshort | +0.0100% | 4h | 3.4610 | −0.114% | $2.1M | $4.2M | 50x | |
| Bybit METISUSDT | +0.0100% | 4h | 3.4670 | +0.059% | $690K | $582K | 20x | as long as short |
| OKX METIS-USDT-SWAP | +0.0100% | 4h | 3.4610 | −0.114% | $383K | $963K | 10x | as long as short |
| Gate METIS_USDT | +0.0100% | 4h | 3.4620 | −0.085% | $142K | $139K | 50x | as long as short |
| MEXC METIS_USDT | +0.0100% | 4h | 3.4600 | −0.143% | $687K | $239K | 50x | as long as short |
| Bitget METISUSDT | +0.0100% | 4h | 3.4620 | −0.085% | $208K | $438K | 50x | as long as short |
| BingX METIS-USDT | +0.0100% | 4h | 3.4620 | −0.085% | — | $2.4M | — | as long as short |
| Variational Omni METIS | +0.0100% | 4h | 3.4764 | +0.330% | $33K | $34K | — | as long as short |
Injective METIS/USDC PERP
Aster METISUSDT
Bybit METISUSDT
OKX METIS-USDT-SWAP
Gate METIS_USDT
MEXC METIS_USDT
Bitget METISUSDT
BingX METIS-USDT
Variational Omni METISShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_METISUSDlong | +0.0186% | 1h | 3.4650 | long leg | $2K | $2K | 10x | |
| KuCoin METISUSDTM | +0.0884% | 4h | 3.4730 | +0.232% | $627K | $186K | 30x | as long as short |
KuCoin METISUSDTM