Funding you earn now, next payment 12:00 UTC−0.4833%/8h= −529.2% APRpaid last 24h −2.298%
Price spread now: MEXC against Kraken Futures−0.353%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−2.126%−$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 −$145 a day on $10k at the current rate, and MEXC is 0.353% cheaper against Kraken Futures than usual: you would sell low and buy high (−$35 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 -2.126% in total (about -110.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_NIGHTUSD | 0.02366 | 0.5095 | pay 0.0637% / 1h | 8m 21s | $62K | $52K | 25x |
| Short | MEXC NIGHT_USDT | 0.02358 | 0.0262 | get 0.0131% / 4h | 8m 21s | $870K | $308K | 100x |
Kraken Futures PF_NIGHTUSD
MEXC NIGHT_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$1,014.86
- Price spread: −0.353% → 0.000%
- −$35.3
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$1,064.17
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 25 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 MEXC live order book, 25 min ago | 2.12 bp | 13.3 bp −$13 | 58.1 bp −$581 | 302.0 bp −$30.2K | 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 exchanges
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 | −1.7496% | 1h | 0.02239 | −5.390% | $1K | $74 | 50x | as long as short |
| Injective NIGHT/USDC PERP | +0.0033% | 1h | 0.02435 | +2.901% | $1K | $58K | 5.5x | as long as short |
| Aster NIGHTUSDT | +0.0100% | 4h | 0.02358 | −0.346% | $18K | $36K | 10x | as long as short |
| Binance NIGHTUSDT | +0.0100% | 4h | 0.02358 | −0.357% | $5.1M | $4.6M | 50x | as long as short |
| Bybit NIGHTUSDT | +0.0100% | 4h | 0.02359 | −0.311% | $1.9M | $805K | 50x | as long as short |
| OKX NIGHT-USDT-SWAP | +0.0100% | 4h | 0.02355 | −0.488% | $1.5M | $1.5M | 20x | as long as short |
| Gate NIGHT_USDT | +0.0100% | 8h | 0.02359 | −0.311% | $210K | $179K | 20x | as long as short |
| KuCoin NIGHTUSDTM | +0.0100% | 4h | 0.02359 | −0.303% | $1.3M | $5.5M | 50x | as long as short |
| Bitget NIGHTUSDT | +0.0100% | 4h | 0.02358 | −0.353% | $652K | $358K | 25x | as long as short |
| SunX NIGHT-USDT | +0.0100% | 4h | 0.02359 | −0.311% | $2K | $1.2M | 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 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin NIGHT-USDT | +0.0117% | 4h | 0.02356 | −0.438% | $267K | $31K | 50x | as long as short |
| BingX NIGHT-USDT | +0.0132% | 4h | 0.02357 | −0.395% | — | $6.6M | — | as long as short |
| MEXC NIGHT_USDTshort | +0.0262% | 4h | 0.02358 | −0.353% | $870K | $308K | 100x | |
| Deribit NIGHT_USDC-PERPETUAL | +0.0429% | 1h | 0.02359 | −0.302% | $97 | $99 | 10x | as long as short |
| Kraken Futures PF_NIGHTUSDlong | +0.5095% | 1h | 0.02366 | long leg | $62K | $52K | 25x |
BloFin NIGHT-USDT
BingX NIGHT-USDT
Deribit NIGHT_USDC-PERPETUAL