Funding you earn now, next payment 05:00 UTC−0.7394%/8h= −809.6% APRpaid last 24h −2.173%
Price spread now: BloFin against Kraken Futures−0.920%57s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−2.378%−$238 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 −$222 a day on $10k at the current rate, and BloFin is 0.920% cheaper against Kraken Futures than usual: you would sell low and buy high (−$92 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 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 -2.378% in total (about -124.0% 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 | 0.02453 | 0.7543 | pay 0.0943% / 1h | 30m 20s | $65K | $61K | 25x |
| Short | BloFin NIGHT-USDT | 0.02430 | 0.0149 | get 0.0075% / 4h | 3h 30m | $284K | $41K | 50x |
Kraken Futures PF_NIGHTUSD
BloFin NIGHT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$1,552.72
- Price spread: −0.920% → 0.000%
- −$91.99
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$1,666.72
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 64 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 BloFin live order book, 64 min ago | 14.57 bp | 45.2 bp −$45 | 210.8 bp −$2,108 | 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 | −11.105% | $1K | — | 50x | as long as short |
| Injective NIGHT/USDC PERP | +0.0033% | 1h | 0.02435 | −0.716% | $1K | $58K | 5.5x | as long as short |
| Aster NIGHTUSDT | +0.0100% | 4h | 0.02430 | −0.906% | $27K | $33K | 10x | as long as short |
| Binance NIGHTUSDT | +0.0100% | 4h | 0.02430 | −0.920% | $5.3M | $6.5M | 50x | as long as short |
| Bybit NIGHTUSDT | +0.0100% | 4h | 0.02431 | −0.879% | $2.0M | $1.0M | 50x | as long as short |
| OKX NIGHT-USDT-SWAP | +0.0100% | 4h | 0.02430 | −0.904% | $1.6M | $1.9M | 20x | as long as short |
| Gate NIGHT_USDT | +0.0100% | 8h | 0.02430 | −0.920% | $239K | $208K | 20x | as long as short |
| KuCoin NIGHTUSDTM | +0.0100% | 4h | 0.02432 | −0.857% | $1.4M | $5.2M | 50x | as long as short |
| Bitget NIGHTUSDT | +0.0100% | 4h | 0.02431 | −0.879% | $682K | $414K | 25x | as long as short |
| SunX NIGHT-USDT | +0.0100% | 4h | 0.02429 | −0.961% | $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
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 | 0.02430 | −0.920% | — | $6.6M | — | as long as short |
| BloFin NIGHT-USDTshort | +0.0149% | 4h | 0.02430 | −0.920% | $284K | $41K | 50x | |
| MEXC NIGHT_USDT | +0.0250% | 4h | 0.02430 | −0.920% | $785K | $451K | 100x | as long as short |
| Deribit NIGHT_USDC-PERPETUAL | +0.2260% | 1h | 0.02437 | −0.655% | $100 | $99 | 10x | as long as short |
| Kraken Futures PF_NIGHTUSDlong | +0.7543% | 1h | 0.02453 | long leg | $65K | $61K | 25x |
BingX NIGHT-USDT
MEXC NIGHT_USDT
Deribit NIGHT_USDC-PERPETUAL