Funding arb · Price arb / Crypto
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 8.8501 | +0.0095 | pay 0.0012% / 1h | 7m 10s | $3.2M | $5.6M | 50x | Long Kraken Futures | |
| SHORT | 8.8635 | +0.0100 | get 0.0013% / 1h | 7m 10s | $10K | $116K | 20x | Short Bullet |
Price gap+0.152%
Funding gap+0.0005% /8h
Funding is ≈ 0, so this is a price-spread trade: +$21 on $10k if the gap goes back to its 7d average.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$21+0.0005% /8h now · paid −0.214% over the last 7D
Price+$21spread +0.152% now, avg −0.058% → +0.210% if it goes back
Costs−$360.361% of $10k · taker + slippage, in and out
Price and funding
1h · loading 5m…Price spread
Prices
Fundingper 8h
P&L
PRICE SPREAD · 7D
Now+0.152%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hUNI on 42 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Watch: Large against open interest11.5 / 6.8 bp$10k is over 10% of Bullet’s open interest.
- Note: Margin at max leverage$200 + $500Kraken Futures 50x, Bullet 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: +$0.16Long Kraken Futures: 24 payments, −$2.84; short Bullet: 24 payments, +$3.00.
- OK: Entry gap works for you+0.152% vs −0.058%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$10K vs $3.2M OIBullet sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCKraken Futures Yes · Bullet NoFull verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0112%/8h × 21 periods−$23.50
Price spread+0.152% → −0.058% (7d avg)+$20.95
Slippage, 4 orderslive order books−$18.08
Fee Kraken Futures bp × 2 orders−$10.00
Fee Bullet bp × 2 orders−$8.00
Net · 7 days · $10k−$38.63
Costs to cover0.361%Break-evennever at this rate
Slippage: Kraken Futures: live order book, 5 min ago; Bullet: live order book, 6 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGKraken Futures3.3911.5 bp−$1211.8 bp−$11822.7 bp−$2,270doesn’t fit
SELL · SHORTBullet2.046.8 bp−$712.6 bp−$126doesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-30 13:34 | Kalshi | Listing | new market KXUNIPERP ($UNI) seen by our collector |
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| 09-24 06:34 | Bullet | Listing | new market UNI-USD ($UNI) seen by our collector |
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