Funding you earn now, next payment 06:00 UTC−0.0510%/8h= −55.9% APRpaid last 24h −0.097%
Price spread now: Kraken Futures against KuCoin+0.235%7-day average +0.062% · you sell dearer than you buy
Net, funding: paid 7d − costs−$142as in the Funding arb table
Net, price: spread back to 7d avg − costs−$154as in the Price arb table
costs, in and out, $10k−$1711.709% of the position
Funding, last 7 days+0.292%+$29 on $10k
+Price spread, last 4 days (all we have)−0.138%−$14 · spread now +0.235%, 7d avg +0.062%
=The price spread pays, funding is against you. Kraken Futures is 0.173% dearer against KuCoin than usual: you sell high and buy low (spread +0.235% now, against its 7-day average of +0.062%): +$17 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 27 hours. Mind the row above: over the last 7 days funding on this pair paid +0.292%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.292% 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 | KuCoin ETHFIUSDTM | 0.6954 | 0.0100 | pay 0.0050% / 4h | 2h 45m | $1.2M | $230K | 50x |
| Short | Kraken Futures PF_ETHFIUSD | 0.6970 | −0.0410 | pay 0.0051% / 1h | 45m 12s | $278K | $262K | 20x |
KuCoin ETHFIUSDTM
Kraken Futures PF_ETHFIUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against KuCoin. 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
- −$107.2
- Price spread: +0.235% → +0.062%
- $17.27
- Slippage, 4 orders
- −$148.92
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$260.85
- Costs to cover
- 1.709%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 5 min ago; Kraken Futures: live order book, 2 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 KuCoin live order book, 5 min ago | 10.04 bp | 55.2 bp −$55 | 177.0 bp −$1,770 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ETHFI_USDC-PERPETUAL | −0.0468% | 1h | 0.6954 | 0.000% | $40K | $10K | 10x | as long as short |
| Kraken Futures PF_ETHFIUSDshort | −0.0410% | 1h | 0.6970 | +0.235% | $278K | $262K | 20x | |
| HTX ETHFI-USDT | −0.0410% | 4h | 0.6949 | −0.072% | $81K | $182K | 20x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0260% | 4h | 0.6950 | −0.058% | $16K | $1K | 10x | as long as short |
| Bybit ETHFIUSDT | −0.0183% | 4h | 0.6952 | −0.029% | $17.3M | $12.7M | 25x | as long as short |
| Variational Omni ETHFI | −0.0084% | 4h | 0.6950 | −0.053% | $948K | $724K | — | as long as short |
| Extended ETHFI-USD | −0.0008% | 1h | 0.6950 | −0.055% | $94K | $506K | 10x | as long as short |
| Binance ETHFIUSDT | −0.0008% | 4h | 0.6952 | −0.029% | $24.1M | $35.3M | 75x | as long as short |
| Aster ETHFIUSDT | −0.0002% | 4h | 0.6959 | +0.072% | $178K | $255K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0002% | 4h | 0.6953 | −0.014% | $15.7M | $4.1M | 125x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Orderly PERP_ETHFI_USDC
Bybit ETHFIUSDT
Variational Omni ETHFI
Extended ETHFI-USD
Binance ETHFIUSDT
Aster ETHFIUSDT
MEXC ETHFI_USDTShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex ETHFI-USD-PERP | +0.0021% | 8h | 0.6955 | +0.014% | $6K | — | 5x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +4.113% | $321 | $51K | 5.5x | as long as short |
| Aevo ETHFI-PERP | +0.0080% | 1h | 0.6950 | −0.058% | $8K | — | 3x | as long as short |
| BloFin ETHFI-USDT | +0.0088% | 4h | 0.6948 | −0.086% | $1.2M | $237K | 75x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.6960 | +0.089% | $1.1M | $830K | 5x | as long as short |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6959 | +0.069% | $17.0M | $8.3M | 5x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6957 | +0.043% | $5.0M | $12.3M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6961 | +0.101% | $1.7M | $2.0M | 75x | as long as short |
| KuCoin ETHFIUSDTMlong | +0.0100% | 4h | 0.6954 | long leg | $1.2M | $230K | 50x | |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6952 | −0.029% | $6.0M | $5.2M | 75x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.6954 | 0.000% | — | $8.8M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.6957 | +0.049% | $63K | $126K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6964 | +0.144% | $2K | $1.1M | 20x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0376% | 1h | 0.7054 | +1.438% | $31K | $5K | 50x | as long as short |
Paradex ETHFI-USD-PERP
Injective ETHFI/USDC PERP
Aevo ETHFI-PERP
BloFin ETHFI-USDT
Lighter ETHFI
Hyperliquid ETHFI
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
Bitget ETHFIUSDT
BingX ETHFI-USDT
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
Coinbase International ETHFI-PERP-INTX