TREAD

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Kraken FuturesPF_TREADUSD	0.9877	+4.0978	pay 0.5122% / 1h	34m 51s	$6K	$51K	20x	Long Kraken Futures
SHORT	Paragonpara:TREAD	0.9903	+0.0719	get 0.0090% / 1h	34m 51s	$612K	$796K	5x	Short Paragon

Price gap+0.265%

Funding gap−4.0260% /8h

The gap pays +$26 on $10k if it goes back to zero (no 7-day history yet), but funding costs $1,208 a day and eats that in about under an hour.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding—−4.0260% /8h now · no funding history yet

Price—spread +0.265% now · no price history on both exchanges yet

Costsno datano order book for Kraken Futures

Result, before costs—no pointsneeds funding history

Funding history

you earnyou payavg

RANGE STATS · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Paragon price against Kraken Futuresnow

RANGE STATS · 7D

Now+0.265%

Average—

Range—

Wider than now—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

TREAD on 3 exchanges

lowest funding first

Before you open

1 ok · 2 to watch

Note: Order book unknown—
No order-book sample for Kraken Futures: its slippage is not counted.
Note: Margin at max leverage$500 + $2,000
Kraken Futures 20x, Paragon 5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: −$1,207.79Long Kraken Futures: 24 payments, −$1,229.35; short Paragon: 24 payments, +$21.56.
Note: No 7-day spread history+0.265%
The gap cannot be compared with its average yet.
Watch: Long leg is thinner$6K vs $612K OI
Kraken Futures sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCKraken Futures Yes · Paragon No
Full 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 out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earnedno history yet: current rate−$8,454.55

Price spread+0.265% → 0+$26.45

Slippage, 4 ordersno data for Kraken Futures—

Fee Kraken Futures bp × 2 orders−$10.00

Fee Paragon bp × 2 orders−$10.00

Net, fees only · 7 days · $10k−$8,448.10

Costs to cover0.200%Break-evenfrom the start

Slippage: Kraken Futures: no order-book sample; Paragon: live order book, 41 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGKraken Futures—————

SELL · SHORTParagon5.91doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.
Kraken Futures: no data.

TREAD news

posts that mention TREAD, from every exchangeSearch all news →

09-25 14:38	Paragon	Other	$TREAD led Paragon markets over the last 24h at +40.63%, with $SMCI +7.48%, $ANSEM +7.43% and $CRDO +7.06% rounding out the top of the board. @tradeparagon on X ↗
09-24 12:27	Kraken Futures	Listing	new market PF_TREADUSD ($TREAD) seen by our collector
09-17 17:43	Paragon	Other	$TREAD led Paragon markets over the past 24h at +25.99%, ahead of $SMCI at +10.56% and $ANSEM at +9.29%, with $UNITREE up 6.50%. @tradeparagon on X ↗
09-16 15:39	Paragon	Listing	$TREAD is now trading 24/7 on Hyperliquid. Up to 5x leverage. $TREAD is the native token of @tread_fi, which offers execution algorithms, smart order routing and market-making bots, across centralized venues, perpetual DEXs and on-chain swaps. @tradeparagon on X ↗