Funding you earn now, next payment 06:00 UTC+0.1629%/8h= +178.4% APRpaid last 24h +0.168%
Price spread now: Kraken Futures against OKX+0.219%7-day average +0.182% · you sell dearer than you buy
Net, funding: paid 7d − costs−$167as in the Funding arb table
Net, price: spread back to 7d avg − costs−$189as in the Price arb table
costs, in and out, $10k−$1931.931% of the position
Funding, last 7 days+0.265%+$27 on $10k
+Price spread, last 4 days (all we have)−0.373%−$37 · spread now +0.219%, 7d avg +0.182%
=Both sides work for this trade now. Funding pays +$49 a day on $10k at the current rate, and Kraken Futures is 0.037% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.182%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.265% in total (about 13.8% 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 | OKX W-USDT-SWAP | 0.01179 | 0.0100 | pay 0.0050% / 4h | 2h 15m | $1.3M | $1.6M | 20x |
| Short | Kraken Futures PF_WUSD | 0.01182 | 0.1729 | get 0.0216% / 1h | 15m 51s | $147K | $186K | 20x |
OKX W-USDT-SWAP
Kraken Futures PF_WUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against OKX. 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
- $342.15
- Price spread: +0.219% → +0.182%
- $3.67
- Slippage, 4 orders
- −$173.1
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $152.72
- Costs to cover
- 1.931%
- Break-even
- 3.9 days
Slippage from OKX: live order book, 1 min ago; Kraken Futures: live order book, 32 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 OKX live order book, 1 min ago | 1.27 bp | 37.5 bp −$37 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 32 min ago | 14.07 bp | 47.0 bp −$47 | 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 | 0.0000% | 1h | 0.01180 | +0.051% | $14K | $3K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.536% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01180 | +0.076% | $2.0M | $287K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01179 | +0.017% | $3.0M | $5.5M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01177 | −0.187% | $4.1M | $1.6M | 50x | as long as short |
| OKX W-USDT-SWAPlong | +0.0100% | 4h | 0.01179 | long leg | $1.3M | $1.6M | 20x | |
| Gate W_USDT | +0.0100% | 4h | 0.01177 | −0.195% | $426K | $248K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01180 | +0.068% | $12.3M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01179 | −0.008% | $396K | $194K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01180 | +0.076% | $1.3M | $582K | 50x | as long as short |
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-USDT | +0.0100% | 4h | 0.01178 | −0.076% | — | $6.7M | — | as long as short |
| Backpack W_USDC_PERP | +0.0100% | 1h | 0.01181 | +0.178% | $44K | $42K | 15x | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01177 | −0.165% | $72K | $40K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01181 | +0.165% | $129K | $372K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01179 | +0.005% | $59K | $146K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0400% | 1h | 0.01180 | +0.076% | $13K | $14K | 50x | as long as short |
| Kraken Futures PF_WUSDshort | +0.1729% | 1h | 0.01182 | +0.219% | $147K | $186K | 20x |
BingX W-USDT
Backpack W_USDC_PERP
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX