Funding you earn now, next payment 02:00 UTC−0.0745%/8h= −81.6% APRpaid last 24h −0.219%
Price spread now: Kraken Futures against BingX−0.109%7-day average −0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs−$112as in the Funding arb table
Net, price: spread back to 7d avg − costs−$142as in the Price arb table
costs, in and out, $10k−$1361.360% of the position
Funding, last 7 days+0.241%+$24 on $10k
+Price spread, last 3 days (all we have)−0.014%−$1 · spread now −0.109%, 7d avg −0.049%
=Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Kraken Futures is 0.060% cheaper against BingX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.049%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.241%, 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 7 days it paid 0.241% in total (about 12.6% 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 | BingX USUAL-USDT | 0.01384 | 0.0100 | pay 0.0050% / 4h | 2h 26m | — | $1.2M | — |
| Short | Kraken Futures PF_USUALUSD | 0.01382 | −0.0645 | pay 0.0081% / 1h | 26m 38s | $112K | $18K | 10x |
BingX USUAL-USDT
Kraken Futures PF_USUALUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BingX. 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
- −$156.53
- Price spread: −0.109% → −0.049%
- −$6.01
- Slippage, 4 orders
- −$115.97
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$298.51
- Costs to cover
- 1.360%
- Break-even
- never at this rate
Slippage from BingX: live order book, 9 min ago; Kraken Futures: live order book, 40 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 BingX live order book, 9 min ago | 7.24 bp | 28.6 bp −$29 | 130.7 bp −$1,307 | 495.0 bp −$49.5K | 736.7 bp −$368.4K |
| Sell Kraken Futures live order book, 40 min ago | 33.50 bp | 41.3 bp −$41 | 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 | −0.4129% | 1h | 0.01357 | −1.930% | $6K | $2K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDshort | −0.0645% | 1h | 0.01382 | −0.109% | $112K | $18K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01383 | −0.051% | $396K | $182K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01382 | −0.158% | $2.2M | $3.4M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01383 | −0.043% | $1.0M | $762K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01385 | +0.094% | $936K | $180K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01382 | −0.137% | $6.0M | $241K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01385 | +0.094% | $273K | $56K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01383 | −0.051% | $829K | $400K | 50x | as long as short |
| BingX USUAL-USDTlong | +0.0100% | 4h | 0.01384 | long leg | — | $1.2M | — |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01382 | −0.135% | $10K | $208 | — | as long as short |
Variational Omni USUAL