Funding you earn now, next payment 03:00 UTC−0.5465%/8h= −598.4% APRpaid last 24h −1.937%
Price spread now: Binance against Kraken Futures−0.407%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−2.128%−$213 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 −$164 a day on $10k at the current rate, and Binance is 0.407% cheaper against Kraken Futures than usual: you would sell low and buy high (−$41 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.128% in total (about -111.0% 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 | Kraken Futures PF_NIGHTUSD | 0.02443 | 0.5565 | pay 0.0696% / 1h | 13m 13s | $64K | $60K | 25x |
| Short | Binance NIGHTUSDT | 0.02433 | 0.0100 | get 0.0050% / 4h | 1h 13m | $5.4M | $6.5M | 50x |
Kraken Futures PF_NIGHTUSD
Binance NIGHTUSDTFunding 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
- −$1,147.71
- Price spread: −0.407% → 0.000%
- −$40.71
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$1,208.42
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 10 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, 10 min ago | 2.05 bp | 24.5 bp −$24 | 154.1 bp −$1,541 | 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.
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 | −10.755% | $1K | — | 50x | as long as short |
| Injective NIGHT/USDC PERP | +0.0033% | 1h | 0.02435 | −0.325% | $1K | $58K | 5.5x | as long as short |
| Aster NIGHTUSDT | +0.0100% | 4h | 0.02435 | −0.336% | $27K | $35K | 10x | as long as short |
| Binance NIGHTUSDTshort | +0.0100% | 4h | 0.02433 | −0.407% | $5.4M | $6.5M | 50x | |
| Bybit NIGHTUSDT | +0.0100% | 4h | 0.02434 | −0.366% | $2.0M | $1.0M | 50x | as long as short |
| OKX NIGHT-USDT-SWAP | +0.0100% | 4h | 0.02431 | −0.477% | $1.6M | $1.9M | 20x | as long as short |
| Gate NIGHT_USDT | +0.0100% | 8h | 0.02434 | −0.366% | $224K | $204K | 20x | as long as short |
| KuCoin NIGHTUSDTM | +0.0100% | 4h | 0.02436 | −0.303% | $1.4M | $5.2M | 50x | as long as short |
| Bitget NIGHTUSDT | +0.0100% | 4h | 0.02435 | −0.325% | $652K | $399K | 25x | as long as short |
| SunX NIGHT-USDT | +0.0100% | 4h | 0.02434 | −0.366% | $1K | $1.9M | 20x | as long as short |
Coinbase International NIGHT-PERP-INTX
Injective NIGHT/USDC PERP
Aster NIGHTUSDT
Bybit NIGHTUSDT
OKX NIGHT-USDT-SWAP
Gate NIGHT_USDT
KuCoin NIGHTUSDTM
Bitget NIGHTUSDT
SunX NIGHT-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX NIGHT-USDT | +0.0126% | 4h | 0.02433 | −0.407% | — | $6.6M | — | as long as short |
| BloFin NIGHT-USDT | +0.0127% | 4h | 0.02436 | −0.284% | $288K | $42K | 50x | as long as short |
| MEXC NIGHT_USDT | +0.0250% | 4h | 0.02433 | −0.407% | $809K | $458K | 100x | as long as short |
| Deribit NIGHT_USDC-PERPETUAL | +0.0407% | 1h | 0.02436 | −0.305% | $100 | $99 | 10x | as long as short |
| Kraken Futures PF_NIGHTUSDlong | +0.5565% | 1h | 0.02443 | long leg | $64K | $60K | 25x |
BingX NIGHT-USDT
BloFin NIGHT-USDT
MEXC NIGHT_USDT
Deribit NIGHT_USDC-PERPETUAL