Funding you earn now, next payment 01:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h +0.023%
Price spread now: Derive against Kraken Futures−0.036%7-day average +0.005% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.066%+$7 on $10k
+Price spread, last 3 days (all we have)+0.033%+$3 · spread now −0.036%, 7d avg +0.005%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Derive is 0.041% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.005%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.066%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XAUTUSD | 4,360.2 | 0.0118 | pay 0.0015% / 1h | 8m 20s | $5.3M | $4.0M | 50x |
| Short | Derive XAUT-PERP | 4,358.7 | 0.0100 | get 0.0013% / 1h | 8m 20s | $1.9M | $221K | 10x |
Kraken Futures PF_XAUTUSD
Derive XAUT-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive 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
- −$3.81
- Price spread: −0.036% → +0.005%
- −$4.13
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$23.94
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 6 min ago; Derive: 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, 6 min ago | 0.69 bp | 6.2 bp −$6 | 7.9 bp −$79 | 17.2 bp −$1,723 | doesn't fit |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: 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.
XAUT on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps XAUTUSD | −0.0265% | 1h | 4,355 | −0.120% | $56K | $30K | 20x | as long as short |
| Bitget XAUTUSDT | −0.0050% | 4h | 4,357 | −0.074% | $25.9M | $15.2M | 75x | as long as short |
| Gate XAUT_USDT | 0.0000% | 8h | 4,358.6 | −0.037% | $131.2M | $8.2M | 100x | as long as short |
| Injective XAUT/USDC PERP | +0.0033% | 1h | 4,349.8 | −0.239% | $8K | $149K | 30x | as long as short |
| SoDEX XAUT-USD | +0.0050% | 1h | 4,359.1 | −0.026% | $10.2M | $2.0M | 25x | as long as short |
| Nado XAUT-PERP | +0.0100% | 1h | 4,356.2 | −0.093% | $4.2M | $995K | 10x | as long as short |
| Binance XAUTUSDT | +0.0100% | 4h | 4,357.6 | −0.061% | $35.5M | $46.6M | 75x | as long as short |
| Bybit XAUTUSDT | +0.0100% | 4h | 4,357 | −0.073% | $121.0M | $27.8M | 75x | as long as short |
| MEXC XAUT_USDT | +0.0100% | 4h | 4,357.4 | −0.065% | $336.0M | $284.7M | 1000x | as long as short |
| KuCoin XAUTUSDTM | +0.0100% | 4h | 4,359.1 | −0.025% | $11.4M | $2.9M | 75x | as long as short |
Aftermath Perps XAUTUSD
Bitget XAUTUSDT
Gate XAUT_USDT
Injective XAUT/USDC PERP
SoDEX XAUT-USD
Nado XAUT-PERP
Binance XAUTUSDT
Bybit XAUTUSDT
MEXC XAUT_USDT
KuCoin XAUTUSDTMShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX XAUT-USDT | +0.0100% | 4h | 4,357.3 | −0.067% | — | $17.9M | — | as long as short |
| Variational Omni XAUT | +0.0100% | 4h | 4,352.4 | −0.179% | $33.1M | $3.5M | — | as long as short |
| GRVT XAUT_USDT_Perp | +0.0100% | 4h | 4,352.6 | −0.174% | $366 | $114K | 10x | as long as short |
| Orderly PERP_XAUT_USDC_mythos | +0.0100% | 4h | 4,357.8 | −0.055% | $268 | $17K | 10x | as long as short |
| Derive XAUT-PERPshort | +0.0100% | 1h | 4,358.7 | −0.036% | $1.9M | $221K | 10x | |
| SunX XAUT-USDT | +0.0100% | 4h | 4,363.7 | +0.080% | $3K | $3.6M | 20x | as long as short |
| HTX XAUT-USDT | +0.0100% | 4h | 4,351 | −0.212% | $1.8M | $231K | 75x | as long as short |
| Extended XAUT-USD | +0.0104% | 1h | 4,356.5 | −0.085% | $272K | $231K | 25x | as long as short |
| Kraken Futures PF_XAUTUSDlong | +0.0118% | 1h | 4,360.2 | long leg | $5.3M | $4.0M | 50x | |
| BloFin XAUT-USDT | +0.0340% | 4h | 4,354.7 | −0.127% | $2.3M | $1.6M | 75x | as long as short |
BingX XAUT-USDT
Variational Omni XAUT
GRVT XAUT_USDT_Perp
Orderly PERP_XAUT_USDC_mythos
SunX XAUT-USDT
HTX XAUT-USDT
Extended XAUT-USD
BloFin XAUT-USDT