Funding you earn now, next payment 00:00 UTC−0.0616%/8h= −67.5% APRpaid last 24h +0.005%
Price spread now: BingX against Kraken Futures−0.260%7-day average −0.159% · you buy dearer than you sell
Net, funding: paid 7d − costs−$286as in the Funding arb table
Net, price: spread back to 7d avg − costs−$289as in the Price arb table
costs, in and out, $10k−$2792.793% of the position
Funding, last 7 days−0.064%−$6 on $10k
+Price spread, last 3 days (all we have)+0.399%+$40 · spread now −0.260%, 7d avg −0.159%
=Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and BingX is 0.101% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.159%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.064% in total (about -3.3% 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_WUSD | 0.01187 | 0.0716 | pay 0.0090% / 1h | 53m 10s | $147K | $181K | 20x |
| Short | BingX W-USDT | 0.01184 | 0.0100 | get 0.0050% / 4h | 53m 10s | — | $6.9M | — |
Kraken Futures PF_WUSD
BingX W-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$129.42
- Price spread: −0.260% → −0.159%
- −$10.1
- Slippage, 4 orders
- −$259.34
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$418.87
- Costs to cover
- 2.793%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 24 min ago; BingX: live order book, 10 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, 24 min ago | 10.60 bp | 181.8 bp −$182 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 10 min ago | 5.10 bp | 25.0 bp −$25 | 54.5 bp −$545 | 567.6 bp −$56.8K | 1128.2 bp −$564.1K |
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 | −0.0048% | 4h | 0.01183 | −0.319% | $1.3M | $2.0M | 20x | as long as short |
| Deribit W_USDC-PERPETUAL | 0.0000% | 1h | 0.01184 | −0.210% | $17K | $1K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +1.872% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01185 | −0.151% | $2.0M | $423K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01184 | −0.227% | $3.0M | $6.8M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01182 | −0.395% | $4.1M | $1.9M | 50x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01181 | −0.513% | $445K | $290K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01184 | −0.243% | $12.9M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01185 | −0.151% | $459K | $218K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01185 | −0.151% | $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
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-USDTshort | +0.0100% | 4h | 0.01184 | −0.260% | — | $6.9M | — | |
| Variational Omni W | +0.0100% | 4h | 0.01179 | −0.640% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01183 | −0.355% | $130K | $385K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01184 | −0.272% | $59K | $228K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0248% | 1h | 0.01184 | −0.252% | $14K | $17K | 50x | as long as short |
| Kraken Futures PF_WUSDlong | +0.0716% | 1h | 0.01187 | long leg | $147K | $181K | 20x | |
| Backpack W_USDC_PERP | +0.1129% | 1h | 0.01185 | −0.125% | $44K | $47K | 15x | as long as short |
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP