Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 757.33 | +0.0093 | pay 0.0012% / 1h | 55m 40s | $1.8M | $124K | 20x | Long Kraken Futures | |
| SHORT | 759.93 | 0 | 0.0000% / 8h | 3h 55m | $2K | $928K | 10x | Short SunX≤10% back |
Price gap+0.344%
Funding gap−0.0093% /8h
The gap pays +$5 on $10k if it goes back to its 7d average, but funding costs $3 a day and eats that in about 45 hours. At the last 7 days' pace that is about 10 hours.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$84−0.0093% /8h now · paid −0.842% over the last 7D
Price+$5spread +0.344% now, avg +0.291% → +0.053% if it goes back
Costsdoesn’t fit$10k a leg is deeper than the books hold
Result, before costs−$79−0.79%no pointscosts unknown: book too thin at $10k · What the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.344%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hSPY on 33 exchanges
lowest funding firstBefore you open
1 ok · 4 to watch- Problem: Doesn’t fit the books—$10k a leg is deeper than SunX’s order book right now.
- Note: Margin at max leverage$500 + $1,000Kraken Futures 20x, SunX 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- Watch: Payment intervals differ1h / 8hPayments land at different times. Close right after the slower leg pays.Next 24h at the current rates, on $10k a leg: −$2.79Long Kraken Futures: 24 payments, −$2.79; short SunX: 3 payments, $0.00.
- OK: Entry gap works for you+0.344% vs +0.291%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$2K vs $1.8M OISunX sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCKraken Futures Yes · SunX NoFull verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0401%/8h × 21 periods−$84.19
Price spread+0.344% → +0.291% (7d avg)+$5.25
Slippage, 4 ordersdoesn’t fit the book at $10k—
Fee Kraken Futures bp × 2 orders−$10.00
Fee SunX bp × 2 orders−$8.00
Net · 7 days · $10k—
doesn’t fit the books at $10kCosts to cover—Break-even—
Slippage: Kraken Futures: live order book, 2 min ago; SunX: live order book, 2 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGKraken Futures4.6213.1 bp−$1364.7 bp−$647doesn’t fitdoesn’t fit
SELL · SHORTSunX29.08doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
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