Funding you earn now, next payment 02:00 UTC−0.1068%/8h= −117.0% APRpaid last 24h −0.152%
Price spread now: Binance against Kraken Futures−0.104%7-day average −0.060% · you buy dearer than you sell
Net, funding: paid 7d − costs−$217as in the Funding arb table
Net, price: spread back to 7d avg − costs−$160as in the Price arb table
costs, in and out, $10k−$1561.556% of the position
Funding, last 7 days−0.614%−$61 on $10k
+Price spread, last 3 days (all we have)+0.117%+$12 · spread now −0.104%, 7d avg −0.060%
=Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and Binance is 0.044% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.060%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.614% in total (about -32.0% 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_SPXUSD | 0.5109 | 0.1168 | pay 0.0146% / 1h | 26m 43s | $253K | $545K | 20x |
| Short | Binance SPXUSDT | 0.5104 | 0.0100 | get 0.0050% / 4h | 2h 26m | $5.2M | $21.2M | 75x |
Kraken Futures PF_SPXUSD
Binance SPXUSDTFunding 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
- −$224.38
- Price spread: −0.104% → −0.060%
- −$4.4
- Slippage, 4 orders
- −$135.6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$384.38
- Costs to cover
- 1.556%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 41 min ago; Binance: live order book, 14 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, 41 min ago | 42.81 bp | 49.3 bp −$49 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 14 min ago | 5.97 bp | 21.8 bp −$22 | 56.1 bp −$561 | doesn't fit | doesn't fit |
SPX on 18 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 | −2.549% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5115 | +0.113% | $138K | $358K | 5x | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.5084 | −0.490% | $879K | $1.4M | — | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5116 | +0.138% | $10.2M | $7.7M | 5x | as long as short |
| Binance SPXUSDTshort | +0.0100% | 4h | 0.5104 | −0.104% | $5.2M | $21.2M | 75x | |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5111 | +0.035% | $11.6M | $16.1M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5114 | +0.093% | $959K | $2.9M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5097 | −0.239% | $1.0M | $555K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5111 | +0.035% | $11.5M | $4.9M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5106 | −0.063% | $3.7M | $5.3M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Variational Omni SPX
Hyperliquid SPX
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTMShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPXUSDT | +0.0100% | 4h | 0.5102 | −0.142% | $2.6M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5103 | −0.122% | — | $6.8M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5089 | −0.396% | $46K | $246K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5099 | −0.200% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5098 | −0.217% | $37K | $260K | 10x | as long as short |
| Aster SPXUSDT | +0.0119% | 4h | 0.5096 | −0.263% | $129K | $111K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0128% | 4h | 0.5107 | −0.044% | $20K | $599 | 10x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1168% | 1h | 0.5109 | long leg | $253K | $545K | 20x |
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Aster SPXUSDT
Orderly PERP_SPX_USDC