Funding you earn now, next payment 07:00 UTC+0.1735%/8h= +190.0% APRpaid last 24h −0.091%
Price spread now: Kraken Futures against Binance+0.227%7-day average +0.102% · you sell dearer than you buy
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$920.919% of the position
Funding, last 7 days+0.291%+$29 on $10k
+Price spread, last 4 days (all we have)−0.095%−$9 · spread now +0.227%, 7d avg +0.102%
=Both sides work for this trade now. Funding pays +$52 a day on $10k at the current rate, and Kraken Futures is 0.125% dearer against Binance than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.102%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.291% in total (about 15.2% 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 | Binance ETHFIUSDT | 0.6945 | −0.0045 | get 0.0022% / 4h | 1h 48m | $24.1M | $36.0M | 75x |
| Short | Kraken Futures PF_ETHFIUSD | 0.6961 | 0.1690 | get 0.0211% / 1h | 48m 18s | $286K | $292K | 20x |
Binance ETHFIUSDT
Kraken Futures PF_ETHFIUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- $364.35
- Price spread: +0.227% → +0.102%
- $12.55
- Slippage, 4 orders
- −$71.86
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $285.03
- Costs to cover
- 0.919%
- Break-even
- 1.5 days
Slippage from Binance: live order book, 8 min ago; Kraken Futures: live order book, 59 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 Binance live order book, 8 min ago | 0.71 bp | 12.7 bp −$13 | 32.7 bp −$327 | 195.0 bp −$19.5K | doesn't fit |
| Sell Kraken Futures live order book, 59 min ago | 12.19 bp | 25.7 bp −$26 | 119.0 bp −$1,190 | doesn't fit | doesn't fit |
ETHFI on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| HTX ETHFI-USDT | −0.0362% | 4h | 0.6946 | +0.014% | $82K | $175K | 20x | as long as short |
| Deribit ETHFI_USDC-PERPETUAL | −0.0325% | 1h | 0.6948 | +0.043% | $41K | $11K | 10x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0277% | 4h | 0.6946 | +0.014% | $16K | $1K | 10x | as long as short |
| Variational Omni ETHFI | −0.0158% | 4h | 0.6931 | −0.196% | $921K | $778K | — | as long as short |
| Bybit ETHFIUSDT | −0.0089% | 4h | 0.6947 | +0.029% | $17.3M | $13.0M | 25x | as long as short |
| Extended ETHFI-USD | −0.0048% | 1h | 0.6942 | −0.041% | $96K | $500K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0048% | 4h | 0.6946 | +0.014% | $15.5M | $4.2M | 125x | as long as short |
| Binance ETHFIUSDTlong | −0.0045% | 4h | 0.6945 | long leg | $24.1M | $36.0M | 75x | |
| Paradex ETHFI-USD-PERP | −0.0018% | 8h | 0.6955 | +0.150% | $6K | — | 5x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +4.248% | $321 | $51K | 5.5x | as long as short |
HTX ETHFI-USDT
Deribit ETHFI_USDC-PERPETUAL
Orderly PERP_ETHFI_USDC
Variational Omni ETHFI
Bybit ETHFIUSDT
Extended ETHFI-USD
MEXC ETHFI_USDT
Paradex ETHFI-USD-PERP
Injective ETHFI/USDC PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo ETHFI-PERP | +0.0072% | 1h | 0.6948 | +0.039% | $8K | — | 3x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.6952 | +0.102% | $1.1M | $829K | 5x | as long as short |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6949 | +0.058% | $16.7M | $8.6M | 5x | as long as short |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.6955 | +0.144% | $178K | $261K | 10x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6953 | +0.115% | $5.1M | $12.7M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6957 | +0.173% | $1.7M | $2.0M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6959 | +0.202% | $1.2M | $229K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6952 | +0.101% | $6.0M | $5.0M | 75x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.6952 | +0.101% | — | $8.9M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.6952 | +0.107% | $63K | $127K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6952 | +0.101% | $2K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0191% | 4h | 0.6939 | −0.086% | $1.2M | $239K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0328% | 1h | 0.7066 | +1.742% | $32K | $6K | 50x | as long as short |
| Kraken Futures PF_ETHFIUSDshort | +0.1690% | 1h | 0.6961 | +0.227% | $286K | $292K | 20x |
Aevo ETHFI-PERP
Lighter ETHFI
Hyperliquid ETHFI
Aster ETHFIUSDT
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDT
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX