Funding you earn now, next payment 09:00 UTC−0.0790%/8h= −86.5% APRpaid last 24h −0.218%
Price spread now: KuCoin against Kraken Futures−0.087%7-day average −0.128% · you buy dearer than you sell
Net, funding: paid 7d − costs−$558as in the Funding arb table
Net, price: spread back to 7d avg − costs−$534as in the Price arb table
costs, in and out, $10k−$5385.378% of the position
Funding, last 7 days−0.204%−$20 on $10k
+Price spread, last 4 days (all we have)+0.640%+$64 · spread now −0.087%, 7d avg −0.128%
=The price spread pays, funding is against you. KuCoin is 0.040% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.087% now, against its 7-day average of −0.128%): +$4 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.204% in total) that is about 33 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.204% in total (about -10.7% 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 | 0.01189 | 0.0890 | pay 0.0111% / 1h | 59m 38s | $148K | $47K | 20x |
| Short | KuCoin WUSDTM | 0.01188 | 0.0100 | get 0.0050% / 4h | 2h 59m | $389K | $188K | 50x |
Kraken Futures PF_WUSD
KuCoin WUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$165.81
- Price spread: −0.087% → −0.128%
- $4.02
- Slippage, 4 orders
- −$515.82
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$699.62
- Costs to cover
- 5.378%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 33 min ago; KuCoin: live order book, 23 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, 33 min ago | 25.54 bp | 183.1 bp −$183 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 23 min ago | 21.12 bp | 131.3 bp −$131 | 279.0 bp −$2,790 | 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 | −0.0002% | 1h | 0.01189 | −0.020% | $14K | $4K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +1.679% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01188 | −0.087% | $2.0M | $265K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01189 | −0.029% | $3.0M | $4.9M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01186 | −0.273% | $4.1M | $1.5M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01187 | −0.172% | $1.3M | $1.4M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01186 | −0.230% | $433K | $218K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01188 | −0.045% | $12.4M | $1.3M | 50x | as long as short |
| KuCoin WUSDTMshort | +0.0100% | 4h | 0.01188 | −0.087% | $389K | $188K | 50x | |
| Bitget WUSDT | +0.0100% | 4h | 0.01189 | −0.003% | $1.3M | $551K | 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
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 | −0.113% | — | $6.6M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01186 | −0.283% | $71K | $20K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01190 | +0.079% | $127K | $374K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01188 | −0.076% | $62K | $387K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0384% | 1h | 0.01190 | +0.106% | $13K | $12K | 50x | as long as short |
| Kraken Futures PF_WUSDlong | +0.0890% | 1h | 0.01189 | long leg | $148K | $47K | 20x | |
| Backpack W_USDC_PERP | +0.0984% | 1h | 0.01190 | +0.081% | $45K | $49K | 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