Funding you earn now, next payment 02:00 UTC+0.0120%/8h= +13.2% APRpaid last 24h +0.054%
Price spread now: Kraken Futures against Phemex+0.021%7-day average +0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$990.992% of the position
Funding, last 7 days+0.241%+$24 on $10k
+Price spread, last 3 days (all we have)−0.033%−$3 · spread now +0.021%, 7d avg +0.021%
=The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex SPYXUSDT | 774.25 | 0 | get 0.0000% / 4h | 2h 45m | $830K | $5K | 10x |
| Short | Kraken Futures PF_SPYXUSD | 774.42 | 0.0120 | get 0.0015% / 1h | 45m 55s | $1.5M | $469K | 20x |
Phemex SPYXUSDT
Kraken Futures PF_SPYXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Phemex. 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
- $25.28
- Price spread: +0.021% → +0.021%
- $0.03
- Slippage, 4 orders
- −$77.2
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$73.9
- Costs to cover
- 0.992%
- Break-even
- 27.5 days
Slippage from Phemex: live order book, 21 min ago; Kraken Futures: live order book, 3 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 Phemex live order book, 21 min ago | 13.64 bp | 38.8 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 2.58 bp | 7.6 bp −$8 | 8.7 bp −$87 | doesn't fit | doesn't fit |
SPYX on 2 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex SPYXUSDTlong | 0.0000% | 4h | 774.25 | long leg | $830K | $5K | 10x | |
| Kraken Futures PF_SPYXUSDshort | +0.0120% | 1h | 774.42 | +0.021% | $1.5M | $469K | 20x |