Funding you earn now, next payment 08:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.218%
Price spread now: Kraken Futures against Binance+0.067%7-day average +0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs−$140as in the Price arb table
costs, in and out, $10k−$1451.447% of the position
Funding, last 7 days+0.389%+$39 on $10k
+Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.067%, 7d avg +0.017%
=The price spread pays, funding is against you. Kraken Futures is 0.050% dearer against Binance than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of +0.017%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 45 hours. Mind the row above: over the last 7 days funding on this pair paid +0.389%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance USUALUSDT | 0.01395 | 0.0100 | pay 0.0050% / 4h | 40m 52s | $2.2M | $3.1M | 50x |
| Short | Kraken Futures PF_USUALUSD | 0.01396 | 0.0011 | get 0.0001% / 1h | 40m 52s | $112K | $21K | 10x |
Binance USUALUSDT
Kraken Futures PF_USUALUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- −$18.72
- Price spread: +0.067% → +0.017%
- $5
- Slippage, 4 orders
- −$124.74
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$158.46
- Costs to cover
- 1.447%
- Break-even
- never at this rate
Slippage from Binance: live order book, 10 min ago; Kraken Futures: live order book, 61 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 Binance live order book, 10 min ago | 3.59 bp | 21.2 bp −$21 | 132.1 bp −$1,321 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 61 min ago | 40.04 bp | 46.1 bp −$46 | doesn't fit | doesn't fit | doesn't fit |
USUAL on 11 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 USUAL/USDC PERP | −0.3920% | 1h | 0.01378 | −1.250% | $6K | $3K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDshort | +0.0011% | 1h | 0.01396 | +0.067% | $112K | $21K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01397 | +0.111% | $397K | $183K | 3x | as long as short |
| Binance USUALUSDTlong | +0.0100% | 4h | 0.01395 | long leg | $2.2M | $3.1M | 50x | |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01397 | +0.111% | $1.0M | $754K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01398 | +0.183% | $946K | $103K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01396 | +0.011% | $6.1M | $255K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01398 | +0.183% | $268K | $47K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01397 | +0.111% | $806K | $390K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01397 | +0.111% | — | $1.2M | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
BingX USUAL-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01397 | +0.131% | $11K | $1K | — | as long as short |
Variational Omni USUAL