Funding you earn now, next payment 05:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h +0.222%
Price spread now: Binance against Kraken Futures−0.078%7-day average −0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$181as in the Funding arb table
Net, price: spread back to 7d avg − costs−$150as in the Price arb table
costs, in and out, $10k−$1441.444% of the position
Funding, last 7 days−0.362%−$36 on $10k
+Price spread, last 4 days (all we have)+0.196%+$20 · spread now −0.078%, 7d avg −0.019%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.059% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.019%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_USUALUSD | 0.01386 | 0.0278 | pay 0.0035% / 1h | 9m 32s | $110K | $21K | 10x |
| Short | Binance USUALUSDT | 0.01385 | 0.0100 | get 0.0050% / 4h | 3h 09m | $2.2M | $3.3M | 50x |
Kraken Futures PF_USUALUSD
Binance USUALUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$37.33
- Price spread: −0.078% → −0.019%
- −$5.87
- Slippage, 4 orders
- −$124.43
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$187.62
- Costs to cover
- 1.444%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 43 min ago; Binance: live order book, 11 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, 43 min ago | 40.52 bp | 45.5 bp −$46 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 11 min ago | 5.02 bp | 26.7 bp −$27 | 114.8 bp −$1,148 | 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 | −0.5000% | 1h | 0.01378 | −0.605% | $6K | $3K | 5.5x | as long as short |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01386 | −0.028% | $401K | $186K | 3x | as long as short |
| Binance USUALUSDTshort | +0.0100% | 4h | 0.01385 | −0.078% | $2.2M | $3.3M | 50x | |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01388 | +0.131% | $1.1M | $790K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01391 | +0.333% | $940K | $112K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01386 | −0.028% | $6.1M | $263K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01388 | +0.117% | $256K | $62K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01388 | +0.117% | $808K | $399K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01389 | +0.189% | — | $1.2M | — | as long as short |
| Variational Omni USUAL | +0.0100% | 4h | 0.01392 | +0.415% | $10K | $1K | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
BingX USUAL-USDT
Variational Omni USUALShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_USUALUSDlong | +0.0278% | 1h | 0.01386 | long leg | $110K | $21K | 10x |