Funding you earn now, next payment 02:00 UTC−0.0278%/8h= −30.4% APRnext payment −$0.35 per $10,000 · paid last 24h −0.070%
Price spread now: Backpack against Kraken Futures−0.071%7-day average +0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs−$67as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$540.536% of the position
Funding, last 7 days−0.129%−$13 on $10k
+Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.071%, 7d avg +0.033%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Backpack is 0.104% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.033%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.129% in total (about -6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.35 per $10,000. 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_SEIUSD | 0.05938 | 0.0378 | pay 0.0047% / 1h | 54m 07s | $378K | $1.6M | 50x |
| Short | Backpack SEI_USDC_PERP | 0.05934 | 0.0100 | get 0.0013% / 1h | 54m 07s | $117K | $567K | 10x |
Kraken Futures PF_SEIUSD
Backpack SEI_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack 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
- −$58.3
- Price spread: −0.071% → +0.033%
- −$10.41
- Slippage, 4 orders
- −$33.64
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$122.35
- Costs to cover
- 0.536%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 4 min ago; Backpack: live order book, 15 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, 4 min ago | 4.20 bp | 16.2 bp −$16 | 48.9 bp −$489 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 15 min ago | 0.83 bp | 12.1 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
SEI on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| GMX SEI/USD [ETH-USDC] | L −0.0815% / S +0.0444% | 1h | 0.05924 | −0.248% | $23K | — | 100x | as long as short |
| Variational Omni SEI | −0.0127% | 8h | 0.05902 | −0.617% | $316K | $210K | — | as long as short |
| gTrade (Gains Network) SEI/USD | L −0.0005% / S +0.0006% | 1h | 0.05923 | −0.256% | $11K | — | 150x | as long as short |
| Deribit SEI_USDC-PERPETUAL | 0.0000% | 1h | 0.05934 | −0.071% | $10K | $72K | 25x | as long as short |
| Coinbase International SEI-PERP-INTX | +0.0048% | 1h | 0.05922 | −0.273% | $33K | $206K | 50x | as long as short |
| Bybit SEIUSDT | +0.0092% | 8h | 0.05927 | −0.189% | $14.0M | $36.2M | 50x | as long as short |
| Lighter SEI | +0.0096% | 1h | 0.05934 | −0.071% | $270K | $1.2M | 10x | as long as short |
| Orderly PERP_SEI_USDC | +0.0100% | 8h | 0.05932 | −0.105% | $2K | $110K | 20x | as long as short |
| Hyperliquid SEI | +0.0100% | 1h | 0.05938 | −0.004% | $3.4M | $6.3M | 5x | as long as short |
| Aster SEIUSDT | +0.0100% | 8h | 0.05917 | −0.354% | $310K | $354K | 20x | as long as short |
GMX SEI/USD [ETH-USDC]
Variational Omni SEI
gTrade (Gains Network) SEI/USD
Deribit SEI_USDC-PERPETUAL
Coinbase International SEI-PERP-INTX
Bybit SEIUSDT
Lighter SEI
Orderly PERP_SEI_USDC
Hyperliquid SEI
Aster SEIUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance SEIUSDT | +0.0100% | 8h | 0.05931 | −0.122% | $14.2M | $129.1M | 75x | as long as short |
| OKX SEI-USDT-SWAP | +0.0100% | 4h | 0.05928 | −0.172% | $3.2M | $39.9M | 50x | as long as short |
| Gate SEI_USDT | +0.0100% | 8h | 0.05930 | −0.138% | $1.1M | $3.4M | 75x | as long as short |
| MEXC SEI_USDT | +0.0100% | 8h | 0.05933 | −0.088% | $35.1M | $28.3M | 300x | as long as short |
| KuCoin SEIUSDTM | +0.0100% | 8h | 0.05933 | −0.088% | $6.4M | $14.5M | 75x | as long as short |
| Bitget SEIUSDT | +0.0100% | 8h | 0.05935 | −0.054% | $9.5M | $17.0M | 75x | as long as short |
| BingX SEI-USDT | +0.0100% | 8h | 0.05929 | −0.155% | — | $31.6M | — | as long as short |
| Backpack SEI_USDC_PERPshort | +0.0100% | 1h | 0.05934 | −0.071% | $117K | $567K | 10x | |
| GRVT SEI_USDT_Perp | +0.0100% | 8h | 0.05929 | −0.150% | $202K | $1.6M | 10x | as long as short |
| ApeX Omni SEIUSDT | +0.0100% | 1h | 0.05940 | +0.030% | $108K | $677K | 50x | as long as short |
| SunX SEI-USDT | +0.0100% | 8h | 0.05934 | −0.071% | $22K | $4.5M | 30x | as long as short |
| Extended SEI-USD | +0.0104% | 1h | 0.05933 | −0.094% | $76K | $540K | 25x | as long as short |
| BloFin SEI-USDT | +0.0220% | 8h | 0.05912 | −0.441% | $724K | $1.1M | 75x | as long as short |
| Reya SEIRUSDPERP | +0.0346% | 1h | 0.05917 | −0.364% | $113 | — | 20x | as long as short |
| Kraken Futures PF_SEIUSDlong | +0.0378% | 1h | 0.05938 | long leg | $378K | $1.6M | 50x | |
| dYdX SEI-USD | +0.0540% | 1h | 0.05923 | −0.256% | $101K | $2K | 5x | as long as short |
| Injective SEI/USDC PERP | +0.0844% | 1h | 0.05914 | −0.408% | $9K | $43K | 12x | as long as short |
Binance SEIUSDT
OKX SEI-USDT-SWAP
Gate SEI_USDT
MEXC SEI_USDT
KuCoin SEIUSDTM
Bitget SEIUSDT
BingX SEI-USDT
GRVT SEI_USDT_Perp
ApeX Omni SEIUSDT
SunX SEI-USDT
Extended SEI-USD
BloFin SEI-USDT
Reya SEIRUSDPERP
dYdX SEI-USD
Injective SEI/USDC PERP