Funding you earn now, next payment 10:00 UTC−0.0819%/8h= −89.6% APRpaid last 24h −0.567%
Price spread now: Binance against Kraken Futures−0.229%54s7-day average −0.104% · you buy dearer than you sell
Net, funding: paid 7d − costs−$331as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$2812.812% of the position
Funding, last 7 days−0.499%−$50 on $10k
+Price spread, last 4 days (all we have)−0.744%−$74 · spread now −0.229%, 7d avg −0.104%
=Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Binance is 0.126% cheaper against Kraken Futures than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.104%). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.499% in total (about -26.0% 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_PORTALUSD | 0.02029 | 0.0919 | pay 0.0115% / 1h | 58m 27s | $35K | $199K | 10x |
| Short | Binance PORTALUSDT | 0.02025 | 0.0100 | get 0.0050% / 4h | 2h 58m | $3.3M | $5.2M | 10x |
Kraken Futures PF_PORTALUSD
Binance PORTALUSDTFunding 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
- −$171.9
- Price spread: −0.229% → −0.104%
- −$12.59
- Slippage, 4 orders
- −$261.21
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$465.7
- Costs to cover
- 2.812%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 34 min ago; Binance: live order book, 9 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, 34 min ago | 27.41 bp | 115.5 bp −$116 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 9 min ago | 2.46 bp | 31.2 bp −$31 | 240.5 bp −$2,405 | doesn't fit | doesn't fit |
PORTAL on 9 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin PORTAL-USDT | +0.0086% | 4h | 0.02031 | +0.075% | $211K | $21K | 10x | as long as short |
| Aster PORTALUSDT | +0.0100% | 4h | 0.02026 | −0.177% | $9K | $32K | 5x | as long as short |
| Binance PORTALUSDTshort | +0.0100% | 4h | 0.02025 | −0.229% | $3.3M | $5.2M | 10x | |
| Bybit PORTALUSDT | +0.0100% | 4h | 0.02028 | −0.068% | $1.3M | $862K | 20x | as long as short |
| MEXC PORTAL_USDT | +0.0100% | 4h | 0.02023 | −0.320% | $1.0M | $402K | 50x | as long as short |
| KuCoin PORTALUSDTM | +0.0100% | 4h | 0.02028 | −0.073% | $334K | $104K | 10x | as long as short |
| BingX PORTAL-USDT | +0.0100% | 4h | 0.02028 | −0.073% | — | $1.3M | — | as long as short |
| Variational Omni PORTAL | +0.0100% | 4h | 0.02034 | +0.206% | $1K | $7K | — | as long as short |
| Kraken Futures PF_PORTALUSDlong | +0.0919% | 1h | 0.02029 | long leg | $35K | $199K | 10x |
BloFin PORTAL-USDT
Aster PORTALUSDT
Bybit PORTALUSDT
MEXC PORTAL_USDT
KuCoin PORTALUSDTM
BingX PORTAL-USDT
Variational Omni PORTAL