Funding you earn now, next payment 23:00 UTC+0.0125%/8h= +13.7% APRpaid last 24h +0.062%
Price spread now: Kraken Futures against Bitget−0.016%7-day average +0.080% · you buy dearer than you sell
Net, funding: paid 7d − costs−$84as in the Funding arb table
Net, price: spread back to 7d avg − costs−$95as in the Price arb table
costs, in and out, $10k−$850.854% of the position
Funding, last 7 days+0.015%+$2 on $10k
+Price spread, last 3 days (all we have)+0.235%+$23 · spread now −0.016%, 7d avg +0.080%
=Funding pays, the price is against you. Kraken Futures is 0.097% cheaper against Bitget than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.080%). If the spread goes back, that is −$10 on $10k: about 2.6 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.015% in total) that is about 44 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget OPUSDT | 0.1281 | 0.0100 | pay 0.0100% / 8h | 1h 12m | $6.1M | $6.3M | 75x |
| Short | Kraken Futures PF_OPUSD | 0.1281 | 0.0225 | get 0.0028% / 1h | 12m 42s | $801K | $745K | 20x |
Bitget OPUSDT
Kraken Futures PF_OPUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bitget. 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
- $26.19
- Price spread: −0.016% → +0.080%
- −$9.67
- Slippage, 4 orders
- −$63.39
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$68.87
- Costs to cover
- 0.854%
- Break-even
- 25.4 days
Slippage from Bitget: live order book, 6 min ago; Kraken Futures: live order book, 6 min ago.
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 Bitget live order book, 6 min ago | 3.91 bp | 17.6 bp −$18 | 27.4 bp −$274 | 86.6 bp −$8,664 | doesn't fit |
| Sell Kraken Futures live order book, 6 min ago | 8.20 bp | 22.3 bp −$22 | 73.7 bp −$737 | doesn't fit | doesn't fit |
OP on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1710% | 1h | 0.1274 | −0.546% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1280 | −0.068% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0360% | 1h | 0.1278 | −0.234% | $21K | $65K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1281 | −0.019% | $40K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1280 | −0.078% | $42K | $171K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1280 | −0.067% | — | — | 150x | as long as short |
| Variational Omni OP | +0.0060% | 8h | 0.1280 | −0.110% | $233K | $53K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0062% | 8h | 0.1279 | −0.156% | $6K | $49K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1282 | +0.086% | $290K | $922K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1282 | +0.078% | $4.1M | $2.9M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
Variational Omni OP
Orderly PERP_OP_USDC
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1281 | −0.036% | $214K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1281 | +0.003% | $20.8M | $61.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1281 | −0.016% | $18.8M | $25.4M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1281 | +0.031% | $6.1M | $30.2M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1281 | −0.023% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1280 | −0.055% | $20.2M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1279 | −0.156% | $2.9M | $7.5M | 75x | as long as short |
| Bitget OPUSDTlong | +0.0100% | 8h | 0.1281 | long leg | $6.1M | $6.3M | 75x | |
| BingX OP-USDC | +0.0100% | 8h | 0.1281 | 0.000% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1279 | −0.125% | $125K | $192K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1279 | −0.147% | $9K | $384K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1279 | −0.149% | $320K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1279 | −0.156% | $46K | $722K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1279 | −0.125% | $178 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1280 | −0.039% | $177K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1280 | −0.065% | $102K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1280 | −0.101% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1279 | −0.148% | $1.0M | $298K | 75x | as long as short |
| Kraken Futures PF_OPUSDshort | +0.0225% | 1h | 0.1281 | −0.016% | $801K | $745K | 20x | |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1279 | −0.133% | $711 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP