Funding you earn now, next payment 01:00 UTC−0.5910%/8h= −647.2% APRpaid last 24h +2.084%
Price spread now: Kraken Futures against Gate−0.492%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+2.339%+$234 on $10k
+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 −$177 a day on $10k at the current rate, and Kraken Futures is 0.492% cheaper against Gate than usual: you would sell low and buy high (−$49 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +2.339%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.339% in total (about 122.0% 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 | Gate NIGHT_USDT | 0.02435 | 0.0100 | pay 0.0100% / 8h | 7h 39m | $225K | $205K | 20x |
| Short | Kraken Futures PF_NIGHTUSD | 0.02423 | −0.5810 | pay 0.0726% / 1h | 39m 53s | $63K | $61K | 25x |
Gate NIGHT_USDT
Kraken Futures PF_NIGHTUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Gate. 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
- −$1,241.11
- Price spread: −0.492% → 0.000%
- −$49.18
- Slippage, 4 orders
- no order book: not counted
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$1,315.29
- Costs to cover
- 0.250%
- Break-even
- never at this rate
Slippage unknown: Gate: live order book, 27 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 Gate live order book, 27 min ago | 6.18 bp | 144.8 bp −$145 | doesn't fit | 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 | −2.3328% | 1h | 0.02180 | −10.464% | $1K | — | 50x | as long as short |
| Kraken Futures PF_NIGHTUSDshort | −0.5810% | 1h | 0.02423 | −0.492% | $63K | $61K | 25x | |
| Injective NIGHT/USDC PERP | +0.0033% | 1h | 0.02435 | 0.000% | $1K | $58K | 5.5x | as long as short |
| BloFin NIGHT-USDT | +0.0061% | 4h | 0.02437 | +0.082% | $288K | $46K | 50x | as long as short |
| Aster NIGHTUSDT | +0.0100% | 4h | 0.02434 | −0.060% | $27K | $35K | 10x | as long as short |
| Binance NIGHTUSDT | +0.0100% | 4h | 0.02432 | −0.104% | $5.4M | $6.6M | 50x | as long as short |
| Bybit NIGHTUSDT | +0.0100% | 4h | 0.02434 | −0.041% | $2.0M | $1.0M | 50x | as long as short |
| OKX NIGHT-USDT-SWAP | +0.0100% | 4h | 0.02431 | −0.185% | $1.6M | $1.8M | 20x | as long as short |
| Gate NIGHT_USDTlong | +0.0100% | 8h | 0.02435 | long leg | $225K | $205K | 20x | |
| KuCoin NIGHTUSDTM | +0.0100% | 4h | 0.02432 | −0.103% | $1.4M | $5.2M | 50x | as long as short |
Coinbase International NIGHT-PERP-INTX
Injective NIGHT/USDC PERP
BloFin NIGHT-USDT
Aster NIGHTUSDT
Binance NIGHTUSDT
Bybit NIGHTUSDT
OKX NIGHT-USDT-SWAP
KuCoin NIGHTUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget NIGHTUSDT | +0.0100% | 4h | 0.02433 | −0.082% | $650K | $394K | 25x | as long as short |
| SunX NIGHT-USDT | +0.0100% | 4h | 0.02432 | −0.123% | $1K | $1.9M | 20x | as long as short |
| BingX NIGHT-USDT | +0.0120% | 4h | 0.02431 | −0.164% | — | $6.6M | — | as long as short |
| MEXC NIGHT_USDT | +0.0238% | 4h | 0.02433 | −0.082% | $883K | $457K | 100x | as long as short |
| Deribit NIGHT_USDC-PERPETUAL | +0.1722% | 1h | 0.02438 | +0.140% | $100 | $99 | 10x | as long as short |
Bitget NIGHTUSDT
SunX NIGHT-USDT
BingX NIGHT-USDT
MEXC NIGHT_USDT
Deribit NIGHT_USDC-PERPETUAL