Funding you earn now, next payment 23:00 UTC−0.0466%/8h= −51.0% APRnext payment −$0.58 per $10,000 · paid last 24h +0.034%
Price spread now: Coinbase International against Kraken Futures−0.274%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Coinbase International is 0.274% cheaper against Kraken Futures than usual: you would sell low and buy high (−$27 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_WUSD | 0.01191 | 0.0714 | pay 0.0089% / 1h | 0m 05s | $148K | $181K | 20x |
| Short | Coinbase International W-PERP-INTX | 0.01188 | 0.0248 | get 0.0031% / 1h | 0m 05s | $14K | $16K | 50x |
Kraken Futures PF_WUSD
Coinbase International W-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$97.76
- Price spread: −0.274% → 0.000%
- −$27.39
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$145.15
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 12 min ago; Coinbase International: no order-book sample. Net counts fees only.
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, 12 min ago | 11.42 bp | 77.6 bp −$78 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International no order-book sample | — | — | — | — | — |
Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0002% | 1h | 0.01189 | −0.224% | $16K | $2K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +1.480% | $1K | $1K | 12x | as long as short |
| OKX W-USDT-SWAP | +0.0042% | 4h | 0.01186 | −0.442% | $1.3M | $2.0M | 20x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01188 | −0.282% | $2.0M | $416K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01188 | −0.303% | $3.0M | $6.8M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01186 | −0.475% | $4.1M | $1.9M | 50x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01186 | −0.450% | $448K | $291K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01188 | −0.257% | $12.9M | $1.5M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01189 | −0.198% | $467K | $215K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01188 | −0.282% | $1.3M | $571K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
OKX W-USDT-SWAP
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-USDT | +0.0100% | 4h | 0.01188 | −0.240% | — | $6.9M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01182 | −0.745% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01184 | −0.620% | $127K | $377K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01188 | −0.265% | $59K | $228K | 5x | as long as short |
| Coinbase International W-PERP-INTXshort | +0.0248% | 1h | 0.01188 | −0.274% | $14K | $16K | 50x | |
| Backpack W_USDC_PERP | +0.0543% | 1h | 0.01189 | −0.190% | $44K | $47K | 15x | as long as short |
| Kraken Futures PF_WUSDlong | +0.0714% | 1h | 0.01191 | long leg | $148K | $181K | 20x |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Backpack W_USDC_PERP