Funding you earn now, next payment 00:00 UTC+0.2194%/8h= +240.3% APRpaid last 24h +0.624%
Price spread now: Kraken Futures against Orderly+0.245%55s7-day average +0.269% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+2.690%+$269 on $10k
+Price spread, last 3 days (all we have)−0.617%−$62 · spread now +0.245%, 7d avg +0.269%
=Funding pays, the price is against you. Kraken Futures is 0.023% cheaper against Orderly than usual: you would sell low and buy high (spread +0.245% now, against its 7-day average of +0.269%). If the spread goes back, that is −$2 on $10k: about under an hour of funding at the current rate (+$66 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_NAS100_USDC | 30,537.5 | −0.0217 | get 0.0217% / 8h | 15m 23s | $102K | $38K | 20x |
| Short | Kraken Futures PF_US100USD | 30,612.5 | 0.1978 | get 0.0247% / 1h | 15m 23s | $124K | $122K | 20x |
Orderly PERP_NAS100_USDC
Kraken Futures PF_US100USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Orderly. 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
- $460.79
- Price spread: +0.245% → +0.269%
- −$2.35
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $442.44
- Costs to cover
- 0.160%
- Break-even
- 0.3 days
Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 62 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 62 min ago | 7.53 bp | 26.9 bp −$27 | 75.6 bp −$756 | doesn't fit | doesn't fit |
Orderly: 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.
NAS100 on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_NAS100_USDClong | −0.0217% | 8h | 30,537.5 | long leg | $102K | $38K | 20x | |
| MEXC NAS100_USDT | −0.0113% | 8h | 30,550 | +0.041% | $22.9M | $19.6M | 200x | as long as short |
| Gate NAS100_USDT | −0.0063% | 8h | 30,498.2 | −0.129% | $1.8M | $3.6M | 100x | as long as short |
| OKX US100-USDT-SWAP | 0.0000% | 8h | 30,509 | −0.093% | $260K | $357K | 20x | as long as short |
| Bitget NDX100USDT | 0.0000% | 8h | 30,533 | −0.015% | $3.5M | $669K | 50x | as long as short |
| Bullet US100-USD | 0.0000% | 1h | 30,549 | +0.038% | $3K | $90K | 10x | as long as short |
| Phemex NAS100USDT | 0.0000% | 4h | 30,464.6 | −0.239% | $1.4M | $177K | 10x | as long as short |
| QFEX US100-USD | +0.0001% | 1h | 30,549 | +0.038% | $1.4M | $1.0M | 30x | as long as short |
| Lighter US100 | +0.0032% | 1h | 30,544 | +0.021% | $3.8M | $93.8M | 30x | as long as short |
| Extended TECH100m-USD | +0.0032% | 1h | 30,551.1 | +0.044% | $2.1M | $5.5M | 20x | as long as short |
MEXC NAS100_USDT
Gate NAS100_USDT
OKX US100-USDT-SWAP
Bitget NDX100USDT
Bullet US100-USD
Phemex NAS100USDT
QFEX US100-USD
Lighter US100
Extended TECH100m-USDShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest NDX-USD-PERP | +0.0046% | 1h | 30,834.6 | +0.973% | — | $194.1M | 50x | as long as short |
| Paradex US100-USD-PERP | +0.0050% | 8h | 30,542.9 | +0.018% | — | — | 5x | as long as short |
| Polymarket Perps NAS100-USD | +0.0050% | 1h | 30,550 | +0.041% | $7.2M | $1.8M | 50x | as long as short |
| Ondo Perps US100-USD.P | +0.0213% | 1h | 30,567.7 | +0.099% | $6.0M | $8.8M | 25x | as long as short |
| Kraken Futures PF_US100USDshort | +0.1978% | 1h | 30,612.5 | +0.245% | $124K | $122K | 20x |
Vest NDX-USD-PERP
Paradex US100-USD-PERP
Polymarket Perps NAS100-USD
Ondo Perps US100-USD.P