Funding you earn now, next payment 01:00 UTC−0.0808%/8h= −88.4% APRpaid last 24h −0.275%
Price spread now: Phemex against Kraken Futures+0.112%7-day average −0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$162as in the Price arb table
costs, in and out, $10k−$1801.798% of the position
Funding, last 5 days (all we have)+0.107%+$11 on $10k
+Price spread, last 3 days (all we have)−0.175%−$17 · spread now +0.112%, 7d avg −0.063%
=The price spread pays, funding is against you. Phemex is 0.175% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.112% now, against its 7-day average of −0.063%): +$18 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 17 hours. Mind the row above: over the last 5 days funding on this pair paid +0.107%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.107% in total (about 7.8% 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_SYNUSD | 0.2417 | 0.0908 | pay 0.0113% / 1h | 11m 19s | $194K | $551K | 10x |
| Short | Phemex SYNUSDT | 0.2420 | 0.0100 | get 0.0050% / 4h | 3h 11m | $1.6M | $1.8M | 50x |
Kraken Futures PF_SYNUSD
Phemex SYNUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$169.62
- Price spread: +0.112% → −0.063%
- $17.53
- Slippage, 4 orders
- −$157.82
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$331.91
- Costs to cover
- 1.798%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 62 min ago; Phemex: live order book, 2 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, 62 min ago | 32.14 bp | 41.8 bp −$42 | 281.1 bp −$2,811 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 10.35 bp | 48.3 bp −$48 | doesn't fit | doesn't fit | doesn't fit |
SYN on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SYNUSDT | +0.0100% | 4h | 0.2419 | +0.062% | $1.4M | $3.3M | 10x | as long as short |
| Orderly PERP_SYN_USDC_mythos | +0.0100% | 4h | 0.2423 | +0.236% | $4K | $41K | 10x | as long as short |
| Phemex SYNUSDTshort | +0.0100% | 4h | 0.2420 | +0.112% | $1.6M | $1.8M | 50x | |
| BingX SYN-USDT | +0.0232% | 4h | 0.2424 | +0.261% | — | $3.2M | — | as long as short |
| Binance SYNUSDT | +0.0232% | 4h | 0.2422 | +0.201% | $12.3M | $40.9M | 10x | as long as short |
| MEXC SYN_USDT | +0.0234% | 4h | 0.2421 | +0.149% | $2.9M | $7.5M | 50x | as long as short |
| Kraken Futures PF_SYNUSDlong | +0.0908% | 1h | 0.2417 | long leg | $194K | $551K | 10x | |
| Aster SYNUSDT | +0.1314% | 4h | 0.2424 | +0.293% | $2.7M | $813K | 5x | as long as short |
Bitget SYNUSDT
Orderly PERP_SYN_USDC_mythos
BingX SYN-USDT
Binance SYNUSDT
MEXC SYN_USDT
Aster SYNUSDT