Funding you earn now, next payment 01:00 UTC−0.0742%/8h= −81.2% APRpaid last 24h −0.214%
Price spread now: Kraken Futures against Bitget−0.299%7-day average −0.104% · you buy dearer than you sell
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs−$154as in the Price arb table
costs, in and out, $10k−$1351.346% of the position
Funding, last 7 days+0.361%+$36 on $10k
+Price spread, last 3 days (all we have)+0.172%+$17 · spread now −0.299%, 7d avg −0.104%
=Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Kraken Futures is 0.195% cheaper against Bitget than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.104%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.361%, 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 0.361% in total (about 18.8% 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 | Bitget USUALUSDT | 0.01378 | 0.0100 | pay 0.0050% / 4h | 3h 15m | $827K | $419K | 50x |
| Short | Kraken Futures PF_USUALUSD | 0.01374 | −0.0642 | pay 0.0080% / 1h | 15m 56s | $112K | $18K | 10x |
Funding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bitget. 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
- −$155.79
- Price spread: −0.299% → −0.104%
- −$19.51
- Slippage, 4 orders
- −$112.59
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$309.89
- Costs to cover
- 1.346%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 55 min ago; Kraken Futures: live order book, 56 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 Bitget live order book, 55 min ago | 3.63 bp | 23.2 bp −$23 | 106.3 bp −$1,063 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 56 min ago | 31.67 bp | 40.0 bp −$40 | 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 | −0.4996% | 1h | 0.01358 | −1.451% | $6K | $2K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDshort | −0.0642% | 1h | 0.01374 | −0.299% | $112K | $18K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01377 | −0.073% | $396K | $185K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01376 | −0.125% | $2.2M | $3.3M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01377 | −0.080% | $1.0M | $795K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01377 | −0.073% | $931K | $212K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01377 | −0.094% | $6.0M | $246K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01375 | −0.218% | $271K | $62K | 20x | as long as short |
| Bitget USUALUSDTlong | +0.0100% | 4h | 0.01378 | long leg | $827K | $419K | 50x | |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01376 | −0.152% | — | $1.2M | — | as long as short |
Show all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01375 | −0.186% | $9K | $208 | — | as long as short |
Bitget USUALUSDT
Kraken Futures PF_USUALUSD
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
BingX USUAL-USDT
Variational Omni USUAL