Funding you earn now, next payment 03:00 UTC−0.1325%/8h= −145.1% APRpaid last 24h −0.193%
Price spread now: KuCoin against Kraken Futures−0.352%7-day average −0.120% · you buy dearer than you sell
Net, funding: paid 7d − costs−$309as in the Funding arb table
Net, price: spread back to 7d avg − costs−$267as in the Price arb table
costs, in and out, $10k−$2442.440% of the position
Funding, last 7 days−0.648%−$65 on $10k
+Price spread, last 4 days (all we have)+1.028%+$103 · spread now −0.352%, 7d avg −0.120%
=Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and KuCoin is 0.232% cheaper against Kraken Futures than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.120%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.648% in total (about -33.8% 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 | Kraken Futures PF_SPXUSD | 0.5061 | 0.1425 | pay 0.0178% / 1h | 11m 17s | $251K | $544K | 20x |
| Short | KuCoin SPXUSDTM | 0.5043 | 0.0100 | get 0.0050% / 4h | 1h 11m | $3.7M | $5.3M | 50x |
Kraken Futures PF_SPXUSD
KuCoin SPXUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$278.33
- Price spread: −0.352% → −0.120%
- −$23.18
- Slippage, 4 orders
- −$221.98
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$545.48
- Costs to cover
- 2.440%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 52 min ago; KuCoin: live order book, 7 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, 52 min ago | 23.36 bp | 78.0 bp −$78 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 7 min ago | 2.97 bp | 44.8 bp −$45 | 269.4 bp −$2,694 | 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 | −1.616% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5059 | −0.034% | $136K | $359K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5049 | −0.227% | $10.1M | $7.4M | 5x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5049 | −0.233% | $5.1M | $21.1M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5048 | −0.253% | $11.5M | $16.2M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5050 | −0.213% | $942K | $2.9M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5035 | −0.510% | $1.0M | $560K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5056 | −0.095% | $11.9M | $4.8M | 100x | as long as short |
| KuCoin SPXUSDTMshort | +0.0100% | 4h | 0.5043 | −0.352% | $3.7M | $5.3M | 50x | |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5055 | −0.115% | $2.6M | $1.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
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 | 0.5046 | −0.292% | — | $6.9M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.5060 | −0.016% | $881K | $1.4M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5037 | −0.470% | $25K | $254K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5037 | −0.470% | $8K | $1.6M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5052 | −0.170% | $33K | $250K | 10x | as long as short |
| Aster SPXUSDT | +0.0123% | 4h | 0.5038 | −0.444% | $128K | $111K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0145% | 4h | 0.5054 | −0.134% | $20K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5042 | −0.371% | $254K | $985K | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1425% | 1h | 0.5061 | long leg | $251K | $544K | 20x |
BingX SPX-USDT
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Aster SPXUSDT
Orderly PERP_SPX_USDC
BloFin SPX-USDT