Funding you earn now, next payment 06:00 UTC−0.1220%/8h= −133.6% APRpaid last 24h −0.208%
Price spread now: Orderly against Kraken Futures−0.361%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Orderly is 0.361% cheaper against Kraken Futures than usual: you would sell low and buy high (−$36 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SPXUSD | 0.5181 | 0.1419 | pay 0.0177% / 1h | 56m 27s | $253K | $546K | 20x |
| Short | Orderly PERP_SPX_USDC | 0.5162 | 0.0199 | get 0.0099% / 4h | 2h 56m | $20K | $599 | 10x |
Kraken Futures PF_SPXUSD
Orderly PERP_SPX_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$256.28
- Price spread: −0.361% → 0.000%
- −$36.08
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$308.37
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 56 min ago; Orderly: no order-book sample. Net counts fees only.
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, 56 min ago | 42.88 bp | 50.3 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −3.893% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5149 | −0.618% | $140K | $380K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5128 | −1.011% | $10.4M | $7.9M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5156 | −0.483% | $137K | $130K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5148 | −0.638% | $5.1M | $22.4M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5134 | −0.901% | $11.7M | $17.1M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5123 | −1.114% | $937K | $3.1M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5148 | −0.631% | $1.0M | $595K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5144 | −0.708% | $11.9M | $5.1M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5150 | −0.592% | $3.7M | $5.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPXUSDT | +0.0100% | 4h | 0.5127 | −1.036% | $2.7M | $1.5M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5136 | −0.863% | — | $6.9M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.5135 | −0.890% | $947K | $1.5M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5122 | −1.133% | $26K | $254K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5153 | −0.535% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5128 | −1.014% | $34K | $252K | 10x | as long as short |
| Orderly PERP_SPX_USDCshort | +0.0199% | 4h | 0.5162 | −0.361% | $20K | $599 | 10x | |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5150 | −0.592% | $256K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1419% | 1h | 0.5181 | long leg | $253K | $546K | 20x |
Bitget SPXUSDT
BingX SPX-USDT
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
BloFin SPX-USDT