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Funding arb · Price arb /

PORTAL

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 01:00 UTC+0.1057%/8h= +115.7% APRpaid last 24h +0.468%
Price spread now: Kraken Futures against Binance+0.068%7-day average +0.092% · you sell dearer than you buy
Net, funding: paid 7d − costs−$167as in the Funding arb table
Net, price: spread back to 7d avg − costs−$196as in the Price arb table
costs, in and out, $10k−$1931.931% of the position
Long on BinanceShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+0.264%+$26 on $10k
Price spread, last 3 days (all we have)+0.283%+$28 · spread now +0.068%, 7d avg +0.092%
Together, before fees+0.547%+$55 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.024% cheaper against Binance than usual: you would sell low and buy high (spread +0.068% now, against its 7-day average of +0.092%). If the spread goes back, that is −$2 on $10k: about 2 hours of funding at the current rate (+$32 a day). At the pace of the last 7 days (+0.264% in total) that is about 15 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.264% in total (about 13.8% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance PORTALUSDT0.019700.0100pay 0.0050% / 4h3h 54m$3.2M$5.1M10x
ShortKraken Futures PF_PORTALUSD0.019710.1157get 0.0145% / 1h54m 29s$40K$197K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$221.94
Price spread: +0.068% → +0.092%
−$2.4
Slippage, 4 orders
−$173.14
Fee Binance: 5 bp × 2 orders
−$10
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
$26.41
Costs to cover
1.931%
Break-even
6.2 days
Slippage from Binance: live order book, 13 min ago; Kraken Futures: live order book, 18 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 13 min ago2.54 bp26.9 bp −$27328.3 bp −$3,283doesn't fitdoesn't fit
Sell Kraken Futures live order book, 18 min ago32.97 bp66.8 bp −$67254.5 bp −$2,545doesn't fitdoesn't fit

PORTAL on 9 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster PORTALUSDT+0.0100%4h0.01970+0.015%$8K$37K5xas long as short
Binance PORTALUSDTlong+0.0100%4h0.01970long leg$3.2M$5.1M10x
Bybit PORTALUSDT+0.0100%4h0.01971+0.051%$1.3M$891K20xas long as short
MEXC PORTAL_USDT+0.0100%4h0.01969−0.035%$881K$388K50xas long as short
KuCoin PORTALUSDTM+0.0100%4h0.01967−0.137%$339K$120K10xas long as short
BingX PORTAL-USDT+0.0100%4h0.01971+0.066%—$1.3M—as long as short
Variational Omni PORTAL+0.0100%4h0.01975+0.273%$1K$6K—as long as short
BloFin PORTAL-USDT+0.0146%4h0.01970+0.015%$200K$17K10xas long as short
Kraken Futures PF_PORTALUSDshort+0.1157%1h0.01971+0.068%$40K$197K10x