Funding you earn now, next payment 04:00 UTC+0.1194%/8h= +130.8% APRpaid last 24h +0.197%
Price spread now: Kraken Futures against Binance−0.022%7-day average +0.060% · you buy dearer than you sell
Net, funding: paid 7d − costs−$136as in the Funding arb table
Net, price: spread back to 7d avg − costs−$207as in the Price arb table
costs, in and out, $10k−$1991.989% of the position
Funding, last 7 days+0.629%+$63 on $10k
+Price spread, last 4 days (all we have)−0.232%−$23 · spread now −0.022%, 7d avg +0.060%
=Funding pays, the price is against you. Kraken Futures is 0.083% cheaper against Binance than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of +0.060%). If the spread goes back, that is −$8 on $10k: about 6 hours of funding at the current rate (+$36 a day). At the pace of the last 7 days (+0.629% in total) that is about 22 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.629% in total (about 32.8% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance SPXUSDT | 0.4988 | 0.0100 | pay 0.0050% / 4h | 48m 22s | $5.0M | $21.3M | 75x |
| Short | Kraken Futures PF_SPXUSD | 0.4987 | 0.1294 | get 0.0162% / 1h | 48m 22s | $242K | $549K | 20x |
Binance SPXUSDT
Kraken Futures PF_SPXUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $250.82
- Price spread: −0.022% → +0.060%
- −$8.27
- Slippage, 4 orders
- −$178.85
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $43.69
- Costs to cover
- 1.989%
- Break-even
- 5.8 days
Slippage from Binance: live order book, 8 min ago; Kraken Futures: live order book, 10 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 Binance live order book, 8 min ago | 3.99 bp | 20.6 bp −$21 | 56.8 bp −$568 | 1047.3 bp −$104.7K | doesn't fit |
| Sell Kraken Futures live order book, 10 min ago | 60.12 bp | 82.5 bp −$82 | 190.5 bp −$1,905 | doesn't fit | doesn't fit |
SPX on 19 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 SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −0.180% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.4987 | −0.016% | $134K | $357K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.4989 | +0.022% | $10.1M | $7.4M | 5x | as long as short |
| Binance SPXUSDTlong | +0.0100% | 4h | 0.4988 | long leg | $5.0M | $21.3M | 75x | |
| Bybit SPXUSDT | +0.0100% | 4h | 0.4979 | −0.180% | $11.3M | $16.3M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.4981 | −0.140% | $932K | $2.8M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.4979 | −0.180% | $991K | $558K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.4988 | 0.000% | $11.9M | $4.8M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.4988 | 0.000% | $3.7M | $5.2M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.4988 | 0.000% | $2.6M | $1.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX SPX-USDT | +0.0100% | 4h | 0.4983 | −0.100% | — | $6.9M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.4985 | −0.058% | $840K | $1.4M | — | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.4977 | −0.221% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.4983 | −0.097% | $32K | $250K | 10x | as long as short |
| Aster SPXUSDT | +0.0125% | 4h | 0.4987 | −0.017% | $133K | $122K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0150% | 4h | 0.4993 | +0.100% | $20K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.4991 | +0.060% | $250K | $989K | 75x | as long as short |
| ApeX Omni SPXUSDT | +0.0625% | 1h | 0.4997 | +0.180% | $25K | $254K | 25x | as long as short |
| Kraken Futures PF_SPXUSDshort | +0.1294% | 1h | 0.4987 | −0.022% | $242K | $549K | 20x |
BingX SPX-USDT
Variational Omni SPX
SunX SPX-USDT
Extended SPX-USD
Aster SPXUSDT
Orderly PERP_SPX_USDC
BloFin SPX-USDT
ApeX Omni SPXUSDT