Funding you earn now, next payment 04:00 UTC+0.1594%/8h= +174.5% APRpaid last 24h +0.088%
Price spread now: Kraken Futures against Binance+0.206%7-day average +0.124% · you sell dearer than you buy
Net, funding: paid 7d − costs−$225as in the Funding arb table
Net, price: spread back to 7d avg − costs−$235as in the Price arb table
costs, in and out, $10k−$2442.435% of the position
Funding, last 7 days+0.180%+$18 on $10k
+Price spread, last 4 days (all we have)−0.384%−$38 · spread now +0.206%, 7d avg +0.124%
=Both sides work for this trade now. Funding pays +$48 a day on $10k at the current rate, and Kraken Futures is 0.082% dearer against Binance than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.124%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.180% in total (about 9.4% 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 | Binance WUSDT | 0.01178 | 0.0100 | pay 0.0050% / 4h | 49m 20s | $2.9M | $6.6M | 50x |
| Short | Kraken Futures PF_WUSD | 0.01180 | 0.1694 | get 0.0212% / 1h | 49m 20s | $146K | $183K | 20x |
Binance WUSDT
Kraken Futures PF_WUSDFunding 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
- $334.69
- Price spread: +0.206% → +0.124%
- $8.23
- Slippage, 4 orders
- −$223.51
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $99.42
- Costs to cover
- 2.435%
- Break-even
- 4.9 days
Slippage from Binance: live order book, 4 min ago; Kraken Futures: live order book, 8 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, 4 min ago | 2.53 bp | 19.5 bp −$20 | 117.2 bp −$1,172 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 8 min ago | 13.91 bp | 62.1 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0174% | 1h | 0.01178 | −0.028% | $16K | $2K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.647% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01178 | +0.015% | $2.0M | $344K | 5x | as long as short |
| Binance WUSDTlong | +0.0100% | 4h | 0.01178 | long leg | $2.9M | $6.6M | 50x | |
| Bybit WUSDT | +0.0100% | 4h | 0.01176 | −0.138% | $4.1M | $1.9M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01177 | −0.070% | $1.3M | $1.9M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01177 | −0.104% | $445K | $229K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01178 | −0.002% | $12.7M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01178 | +0.015% | $381K | $212K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01179 | +0.100% | $1.3M | $584K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01177 | −0.045% | — | $6.8M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01178 | −0.024% | $71K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01183 | +0.463% | $128K | $409K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01178 | −0.027% | $59K | $235K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0360% | 1h | 0.01185 | +0.609% | $14K | $16K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.0657% | 1h | 0.01180 | +0.193% | $44K | $44K | 15x | as long as short |
| Kraken Futures PF_WUSDshort | +0.1694% | 1h | 0.01180 | +0.206% | $146K | $183K | 20x |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP