Funding you earn now, next payment 01:00 UTC−0.5935%/8h= −649.9% APRpaid last 24h +2.084%
Price spread now: Kraken Futures against OKX−0.741%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+2.357%+$236 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 −$178 a day on $10k at the current rate, and Kraken Futures is 0.741% cheaper against OKX than usual: you would sell low and buy high (−$74 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 +2.357%, 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 2.357% in total (about 122.9% 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 | OKX NIGHT-USDT-SWAP | 0.02431 | 0.0100 | pay 0.0050% / 4h | 3h 37m | $1.6M | $1.8M | 20x |
| Short | Kraken Futures PF_NIGHTUSD | 0.02412 | −0.5835 | pay 0.0729% / 1h | 37m 05s | $63K | $61K | 25x |
OKX NIGHT-USDT-SWAP
Kraken Futures PF_NIGHTUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against OKX. 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
- −$1,246.45
- Price spread: −0.741% → 0.000%
- −$74.14
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$1,340.59
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago | 2.47 bp | 34.6 bp −$35 | 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 | −10.298% | $1K | — | 50x | as long as short |
| Kraken Futures PF_NIGHTUSDshort | −0.5835% | 1h | 0.02412 | −0.741% | $63K | $61K | 25x | |
| Injective NIGHT/USDC PERP | +0.0033% | 1h | 0.02435 | +0.185% | $1K | $58K | 5.5x | as long as short |
| BloFin NIGHT-USDT | +0.0086% | 4h | 0.02431 | +0.021% | $288K | $46K | 50x | as long as short |
| Aster NIGHTUSDT | +0.0100% | 4h | 0.02434 | +0.128% | $27K | $35K | 10x | as long as short |
| Binance NIGHTUSDT | +0.0100% | 4h | 0.02433 | +0.103% | $5.4M | $6.5M | 50x | as long as short |
| Bybit NIGHTUSDT | +0.0100% | 4h | 0.02434 | +0.144% | $2.0M | $1.0M | 50x | as long as short |
| OKX NIGHT-USDT-SWAPlong | +0.0100% | 4h | 0.02431 | long leg | $1.6M | $1.8M | 20x | |
| Gate NIGHT_USDT | +0.0100% | 8h | 0.02434 | +0.144% | $225K | $205K | 20x | as long as short |
| KuCoin NIGHTUSDTM | +0.0100% | 4h | 0.02435 | +0.173% | $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
Gate NIGHT_USDT
KuCoin NIGHTUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget NIGHTUSDT | +0.0100% | 4h | 0.02434 | +0.144% | $650K | $394K | 25x | as long as short |
| SunX NIGHT-USDT | +0.0100% | 4h | 0.02429 | −0.062% | $2K | $1.9M | 20x | as long as short |
| BingX NIGHT-USDT | +0.0120% | 4h | 0.02432 | +0.062% | — | $6.6M | — | as long as short |
| MEXC NIGHT_USDT | +0.0238% | 4h | 0.02433 | +0.103% | $883K | $457K | 100x | as long as short |
| Deribit NIGHT_USDC-PERPETUAL | +0.0531% | 1h | 0.02436 | +0.210% | $100 | $99 | 10x | as long as short |
Bitget NIGHTUSDT
SunX NIGHT-USDT
BingX NIGHT-USDT
MEXC NIGHT_USDT
Deribit NIGHT_USDC-PERPETUAL