Funding you earn now, next payment 00:00 UTC+0.0619%/8h= +67.8% APRpaid last 24h −0.016%
Price spread now: Kraken Futures against Gate+0.336%7-day average +0.202% · you sell dearer than you buy
Net, funding: paid 7d − costs−$620as in the Funding arb table
Net, price: spread back to 7d avg − costs−$618as in the Price arb table
costs, in and out, $10k−$6326.317% of the position
Funding, last 7 days+0.120%+$12 on $10k
+Price spread, last 3 days (all we have)−0.644%−$64 · spread now +0.336%, 7d avg +0.202%
=Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Kraken Futures is 0.134% dearer against Gate than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.202%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.120% in total (about 6.2% 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 | Gate W_USDT | 0.01178 | 0.0100 | pay 0.0050% / 4h | 57m 49s | $444K | $290K | 75x |
| Short | Kraken Futures PF_WUSD | 0.01182 | 0.0719 | get 0.0090% / 1h | 57m 49s | $146K | $181K | 20x |
Gate W_USDT
Kraken Futures PF_WUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Gate. 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
- $130
- Price spread: +0.336% → +0.202%
- $13.39
- Slippage, 4 orders
- −$606.7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$488.31
- Costs to cover
- 6.317%
- Break-even
- 33.3 days
Slippage from Gate: live order book, 18 min ago; Kraken Futures: live order book, 20 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 Gate live order book, 18 min ago | 8.07 bp | 191.8 bp −$192 | 23952.3 bp −$239.5K | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 20 min ago | 10.60 bp | 49.1 bp −$49 | 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX W-USDT-SWAP | −0.0069% | 4h | 0.01178 | −0.034% | $1.3M | $2.0M | 20x | as long as short |
| Deribit W_USDC-PERPETUAL | 0.0000% | 1h | 0.01179 | +0.093% | $17K | $1K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.605% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01180 | +0.144% | $2.0M | $425K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01179 | +0.093% | $3.0M | $6.9M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01178 | −0.025% | $4.1M | $1.9M | 50x | as long as short |
| Gate W_USDTlong | +0.0100% | 4h | 0.01178 | long leg | $444K | $290K | 75x | |
| MEXC W_USDT | +0.0100% | 4h | 0.01179 | +0.076% | $12.8M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01181 | +0.229% | $462K | $217K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01180 | +0.144% | $1.3M | $573K | 50x | as long as short |
OKX W-USDT-SWAP
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
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 | 0.01179 | +0.068% | — | $6.9M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01176 | −0.196% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01179 | +0.037% | $130K | $385K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01180 | +0.105% | $59K | $228K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0248% | 1h | 0.01181 | +0.204% | $14K | $17K | 50x | as long as short |
| Kraken Futures PF_WUSDshort | +0.0719% | 1h | 0.01182 | +0.336% | $146K | $181K | 20x | |
| Backpack W_USDC_PERP | +0.1235% | 1h | 0.01181 | +0.204% | $44K | $47K | 15x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP