Funding you earn now, next payment 04:00 UTC−0.0250%/8h= −27.4% APRpaid last 24h −0.104%
Price spread now: Binance against Kraken Futures−0.061%7-day average −0.079% · you buy dearer than you sell
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$680.681% of the position
Funding, last 7 days−0.095%−$9 on $10k
+Price spread, last 4 days (all we have)−0.177%−$18 · spread now −0.061%, 7d avg −0.079%
=The price spread sits at its 7-day average of −0.079%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.095% in total (about -4.9% 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 | Kraken Futures PF_OPUSD | 0.1258 | 0.0350 | pay 0.0044% / 1h | 50m 09s | $789K | $570K | 20x |
| Short | Binance OPUSDT | 0.1258 | 0.0100 | get 0.0100% / 8h | 4h 50m | $20.4M | $60.8M | 75x |
Kraken Futures PF_OPUSD
Binance OPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$52.49
- Price spread: −0.061% → −0.079%
- $1.83
- Slippage, 4 orders
- −$48.13
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$118.79
- Costs to cover
- 0.681%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 8 min ago; Binance: live order book, 7 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 Kraken Futures live order book, 8 min ago | 7.93 bp | 24.0 bp −$24 | 180.1 bp −$1,801 | doesn't fit | doesn't fit |
| Sell Binance live order book, 7 min ago | 0.40 bp | 11.8 bp −$12 | 25.2 bp −$252 | 105.6 bp −$10.6K | 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 | −0.1607% | 1h | 0.1256 | −0.198% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1259 | +0.004% | $13K | — | 100x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1259 | +0.024% | $39K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUAL | 0.0000% | 1h | 0.1258 | −0.039% | $41K | $151K | 25x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1258 | −0.041% | — | — | 150x | as long as short |
| OKX OP-USDT-SWAP | +0.0035% | 8h | 0.1257 | −0.110% | $6.2M | $28.6M | 50x | as long as short |
| Variational Omni OP | +0.0047% | 8h | 0.1260 | +0.099% | $223K | $49K | — | as long as short |
| Orderly PERP_OP_USDC | +0.0054% | 8h | 0.1258 | −0.039% | $6K | $44K | 10x | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1258 | −0.023% | $278K | $938K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1260 | +0.080% | $3.7M | $3.0M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
dYdX OP-USD
Deribit OP_USDC-PERPETUAL
gTrade (Gains Network) OP/USD
OKX OP-USDT-SWAP
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 | 0.1259 | +0.061% | $210K | $219K | 10x | as long as short |
| Binance OPUSDTshort | +0.0100% | 8h | 0.1258 | −0.061% | $20.4M | $60.8M | 75x | |
| Bybit OPUSDT | +0.0100% | 8h | 0.1257 | −0.134% | $18.4M | $25.2M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1258 | −0.015% | $1.9M | $1.4M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1258 | −0.047% | $20.9M | $7.0M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1257 | −0.118% | $2.9M | $6.6M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1258 | −0.039% | $5.9M | $6.5M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1259 | +0.041% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1260 | +0.136% | $120K | $194K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1266 | +0.623% | $4K | $388K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1266 | +0.598% | $311K | $5.0M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1267 | +0.676% | $43K | $708K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1258 | −0.063% | $193 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1258 | −0.047% | $173K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1257 | −0.099% | $101K | $394K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1256 | −0.165% | $3K | $1K | 3x | as long as short |
| Coinbase International OP-PERP-INTX | +0.0168% | 1h | 0.1278 | +1.550% | $25K | $71K | 50x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1262 | +0.239% | $1.0M | $278K | 75x | as long as short |
| Kraken Futures PF_OPUSDlong | +0.0350% | 1h | 0.1258 | long leg | $789K | $570K | 20x | |
| Reya OPRUSDPERP | +0.0441% | 1h | 0.1258 | −0.076% | $699 | — | 20x | as long as short |
Aster OPUSDT
Bybit OPUSDT
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
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
Coinbase International OP-PERP-INTX
BloFin OP-USDT
Reya OPRUSDPERP