Funding you earn now, next payment 04:00 UTC+0.1591%/8h= +174.2% APRpaid last 24h +0.088%
Price spread now: Kraken Futures against BingX+0.085%7-day average +0.167% · you sell dearer than you buy
Net, funding: paid 7d − costs−$233as in the Funding arb table
Net, price: spread back to 7d avg − costs−$253as in the Price arb table
costs, in and out, $10k−$2452.450% of the position
Funding, last 7 days+0.116%+$12 on $10k
+Price spread, last 4 days (all we have)−0.159%−$16 · spread now +0.085%, 7d avg +0.167%
=Funding pays, the price is against you. Kraken Futures is 0.083% cheaper against BingX than usual: you would sell low and buy high (spread +0.085% now, against its 7-day average of +0.167%). If the spread goes back, that is −$8 on $10k: about 4 hours of funding at the current rate (+$48 a day). At the pace of the last 7 days (+0.116% in total) that is about 5.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.116% in total (about 6.1% 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 W-USDT | 0.01181 | 0.0100 | pay 0.0050% / 4h | 51m 01s | — | $6.8M | — |
| Short | Kraken Futures PF_WUSD | 0.01182 | 0.1691 | get 0.0211% / 1h | 51m 01s | $146K | $183K | 20x |
BingX W-USDT
Kraken Futures PF_WUSDFunding 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
- $334.04
- Price spread: +0.085% → +0.167%
- −$8.26
- Slippage, 4 orders
- −$225.03
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $80.75
- Costs to cover
- 2.450%
- Break-even
- 5.3 days
Slippage from BingX: live order book, 2 min ago; Kraken Futures: live order book, 6 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, 2 min ago | 3.81 bp | 20.8 bp −$21 | 59.0 bp −$590 | 691.0 bp −$69.1K | 1132.5 bp −$566.2K |
| Sell Kraken Futures live order book, 6 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 | −0.0004% | 1h | 0.01180 | −0.127% | $16K | $2K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.336% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01180 | −0.119% | $2.0M | $344K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01181 | −0.017% | $2.9M | $6.6M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01179 | −0.237% | $4.1M | $1.9M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01180 | −0.144% | $1.3M | $1.9M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01180 | −0.119% | $446K | $229K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01181 | −0.034% | $12.8M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01179 | −0.203% | $381K | $214K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01182 | +0.051% | $1.3M | $584K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
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-USDTlong | +0.0100% | 4h | 0.01181 | long leg | — | $6.8M | — | |
| Variational Omni W | +0.0100% | 4h | 0.01178 | −0.326% | $71K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01183 | +0.159% | $128K | $409K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01180 | −0.155% | $59K | $235K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0360% | 1h | 0.01185 | +0.305% | $14K | $16K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.0738% | 1h | 0.01182 | +0.008% | $44K | $44K | 15x | as long as short |
| Kraken Futures PF_WUSDshort | +0.1691% | 1h | 0.01182 | +0.085% | $146K | $183K | 20x |
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP