Funding you earn now, next payment 06:00 UTC+1.1509%/8h= +1260.3% APRpaid last 24h +2.235%
Price spread now: Kraken Futures against Bitget+0.058%48s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+2.425%+$243 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$345 a day on $10k at the current rate, and Kraken Futures is 0.058% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.425% in total (about 126.5% 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 | Bitget NIGHTUSDT | 0.02395 | 0.0100 | pay 0.0050% / 4h | 2h 38m | $666K | $433K | 25x |
| Short | Kraken Futures PF_NIGHTUSD | 0.02396 | 1.1609 | get 0.1451% / 1h | 38m 26s | $64K | $61K | 25x |
Bitget NIGHTUSDT
Kraken Futures PF_NIGHTUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bitget. 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
- $2,416.94
- Price spread: +0.058% → 0.000%
- $5.81
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $2,400.75
- Costs to cover
- 0.220%
- Break-even
- 0.0 days
Slippage unknown: Bitget: live order book, 7 min ago; Kraken Futures: no order-book sample. 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 Bitget live order book, 7 min ago | 2.08 bp | 25.9 bp −$26 | 312.2 bp −$3,122 | doesn't fit | doesn't fit |
| Sell Kraken Futures no order-book sample | — | — | — | — | — |
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.
NIGHT 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International NIGHT-PERP-INTX | −2.2072% | 1h | 0.02239 | −6.522% | $1K | $74 | 50x | as long as short |
| Injective NIGHT/USDC PERP | +0.0033% | 1h | 0.02435 | +1.670% | $1K | $58K | 5.5x | as long as short |
| Aster NIGHTUSDT | +0.0100% | 4h | 0.02393 | −0.070% | $27K | $35K | 10x | as long as short |
| Binance NIGHTUSDT | +0.0100% | 4h | 0.02392 | −0.118% | $5.2M | $6.5M | 50x | as long as short |
| Bybit NIGHTUSDT | +0.0100% | 4h | 0.02393 | −0.084% | $2.0M | $1.0M | 50x | as long as short |
| OKX NIGHT-USDT-SWAP | +0.0100% | 4h | 0.02392 | −0.117% | $1.6M | $1.9M | 20x | as long as short |
| Gate NIGHT_USDT | +0.0100% | 8h | 0.02393 | −0.084% | $219K | $216K | 20x | as long as short |
| KuCoin NIGHTUSDTM | +0.0100% | 4h | 0.02392 | −0.117% | $1.3M | $5.3M | 50x | as long as short |
| Bitget NIGHTUSDTlong | +0.0100% | 4h | 0.02395 | long leg | $666K | $433K | 25x | |
| SunX NIGHT-USDT | +0.0100% | 4h | 0.02389 | −0.251% | $1K | $1.9M | 20x | as long as short |
Coinbase International NIGHT-PERP-INTX
Injective NIGHT/USDC PERP
Aster NIGHTUSDT
Binance NIGHTUSDT
Bybit NIGHTUSDT
OKX NIGHT-USDT-SWAP
Gate NIGHT_USDT
KuCoin NIGHTUSDTM
SunX NIGHT-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin NIGHT-USDT | +0.0112% | 4h | 0.02392 | −0.125% | $215K | $44K | 50x | as long as short |
| BingX NIGHT-USDT | +0.0126% | 4h | 0.02392 | −0.125% | — | $6.6M | — | as long as short |
| MEXC NIGHT_USDT | +0.0250% | 4h | 0.02393 | −0.084% | $767K | $454K | 100x | as long as short |
| Deribit NIGHT_USDC-PERPETUAL | +0.0545% | 1h | 0.02393 | −0.071% | $98 | $99 | 10x | as long as short |
| Kraken Futures PF_NIGHTUSDshort | +1.1609% | 1h | 0.02396 | +0.058% | $64K | $61K | 25x |
BloFin NIGHT-USDT
BingX NIGHT-USDT
MEXC NIGHT_USDT
Deribit NIGHT_USDC-PERPETUAL