Funding you earn now, next payment 06:00 UTC−1.1464%/8h= −1255.3% APRpaid last 24h −2.227%
Price spread now: BingX against Kraken Futures−0.222%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−2.366%−$237 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 −$344 a day on $10k at the current rate, and BingX is 0.222% cheaper against Kraken Futures than usual: you would sell low and buy high (−$22 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 -2.366% in total (about -123.4% 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 | 0.02400 | 1.1590 | pay 0.1449% / 1h | 37m 01s | $64K | $61K | 25x |
| Short | BingX NIGHT-USDT | 0.02395 | 0.0126 | get 0.0063% / 4h | 2h 37m | — | $6.6M | — |
Kraken Futures PF_NIGHTUSD
BingX NIGHT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$2,407.48
- Price spread: −0.222% → 0.000%
- −$22.23
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$2,449.7
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; BingX: 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 BingX live order book, 10 min ago | 4.17 bp | 11.6 bp −$12 | 76.4 bp −$764 | 921.0 bp −$92.1K | 1252.5 bp −$626.3K |
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 | −6.730% | $1K | $74 | 50x | as long as short |
| Injective NIGHT/USDC PERP | +0.0033% | 1h | 0.02435 | +1.444% | $1K | $58K | 5.5x | as long as short |
| BloFin NIGHT-USDT | +0.0058% | 4h | 0.02395 | −0.222% | $279K | $44K | 50x | as long as short |
| Aster NIGHTUSDT | +0.0100% | 4h | 0.02396 | −0.200% | $23K | $35K | 10x | as long as short |
| Binance NIGHTUSDT | +0.0100% | 4h | 0.02395 | −0.222% | $5.2M | $6.5M | 50x | as long as short |
| Bybit NIGHTUSDT | +0.0100% | 4h | 0.02396 | −0.181% | $2.0M | $1.0M | 50x | as long as short |
| OKX NIGHT-USDT-SWAP | +0.0100% | 4h | 0.02395 | −0.206% | $1.6M | $1.9M | 20x | as long as short |
| Gate NIGHT_USDT | +0.0100% | 8h | 0.02395 | −0.222% | $219K | $216K | 20x | as long as short |
| KuCoin NIGHTUSDTM | +0.0100% | 4h | 0.02396 | −0.193% | $1.3M | $5.3M | 50x | as long as short |
| Bitget NIGHTUSDT | +0.0100% | 4h | 0.02395 | −0.222% | $649K | $443K | 25x | 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
Gate NIGHT_USDT
KuCoin NIGHTUSDTM
Bitget NIGHTUSDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX NIGHT-USDT | +0.0100% | 4h | 0.02393 | −0.306% | $1K | $1.9M | 20x | as long as short |
| BingX NIGHT-USDTshort | +0.0126% | 4h | 0.02395 | −0.222% | — | $6.6M | — | |
| MEXC NIGHT_USDT | +0.0250% | 4h | 0.02394 | −0.264% | $768K | $454K | 100x | as long as short |
| Deribit NIGHT_USDC-PERPETUAL | +0.0544% | 1h | 0.02395 | −0.206% | $98 | $99 | 10x | as long as short |
| Kraken Futures PF_NIGHTUSDlong | +1.1590% | 1h | 0.02400 | long leg | $64K | $61K | 25x |
SunX NIGHT-USDT
MEXC NIGHT_USDT
Deribit NIGHT_USDC-PERPETUAL