Funding you earn now, next payment 04:00 UTC+0.0731%/8h= +80.1% APRpaid last 24h +0.221%
Price spread now: Bitget against Kraken Futures−0.078%48s7-day average +0.104% · you buy dearer than you sell
Net, funding: paid 7d − costs−$192as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1561.564% of the position
Funding, last 7 days−0.360%−$36 on $10k
+Price spread, last 4 days (all we have)+0.314%+$31 · spread now −0.078%, 7d avg +0.104%
=Funding pays, the price is against you. Bitget is 0.181% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of +0.104%). If the spread goes back, that is −$18 on $10k: about 20 hours of funding at the current rate (+$22 a day). Mind the row above: over the last 7 days funding on this pair cost −0.360%, so the current rate has only just turned in your favour. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.360% 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 | Kraken Futures PF_USUALUSD | 0.01407 | −0.0631 | get 0.0079% / 1h | 2m 35s | $111K | $21K | 10x |
| Short | Bitget USUALUSDT | 0.01406 | 0.0100 | get 0.0050% / 4h | 2m 35s | $835K | $393K | 50x |
Kraken Futures PF_USUALUSD
Bitget USUALUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- $153.59
- Price spread: −0.078% → +0.104%
- −$18.15
- Slippage, 4 orders
- −$134.4
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$20.96
- Costs to cover
- 1.564%
- Break-even
- 8.0 days
Slippage from Kraken Futures: live order book, 55 min ago; Bitget: live order book, 53 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, 55 min ago | 42.53 bp | 47.5 bp −$48 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 53 min ago | 3.58 bp | 29.0 bp −$29 | 154.5 bp −$1,545 | 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 | −0.4543% | 1h | 0.01401 | −0.433% | $6K | $3K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDlong | −0.0631% | 1h | 0.01407 | long leg | $111K | $21K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01406 | −0.078% | $405K | $183K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01405 | −0.121% | $2.3M | $3.3M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01409 | +0.171% | $1.1M | $808K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01407 | −0.007% | $950K | $112K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01406 | −0.078% | $6.2M | $241K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01406 | −0.078% | $262K | $61K | 20x | as long as short |
| Bitget USUALUSDTshort | +0.0100% | 4h | 0.01406 | −0.078% | $835K | $393K | 50x | |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01405 | −0.142% | — | $1.2M | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
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 | 0.01411 | +0.285% | $11K | $1K | — | as long as short |
Variational Omni USUAL