Funding you earn now, next payment 09:00 UTC+0.0764%/8h= +83.7% APRnext payment +$0.96 per $10,000 · paid last 24h −0.049%
Price spread now: Kraken Futures against Polymarket Perps+0.119%7-day average −0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs−$88as in the Price arb table
costs, in and out, $10k−$1021.015% of the position
Funding, last 7 days+0.361%+$36 on $10k
+Price spread, last 4 days (all we have)−0.118%−$12 · spread now +0.119%, 7d avg −0.013%
=Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Kraken Futures is 0.131% dearer against Polymarket Perps than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.013%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.361% in total (about 18.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.96 per $10,000. 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 | Polymarket Perps ETHFI-USD | 0.6984 | 0.0100 | pay 0.0013% / 1h | 40m 43s | $53K | $149K | 5x |
| Short | Kraken Futures PF_ETHFIUSD | 0.6992 | 0.0864 | get 0.0108% / 1h | 40m 43s | $294K | $287K | 20x |
Polymarket Perps ETHFI-USD
Kraken Futures PF_ETHFIUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Polymarket Perps. 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
- $160.47
- Price spread: +0.119% → −0.013%
- $13.15
- Slippage, 4 orders
- −$83.54
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $72.07
- Costs to cover
- 1.015%
- Break-even
- 3.9 days
Slippage from Polymarket Perps: live order book, 22 min ago; Kraken Futures: live order book, 57 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 Polymarket Perps live order book, 22 min ago | 2.87 bp | 12.0 bp −$12 | 1601.9 bp −$16.0K | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 57 min ago | 17.99 bp | 46.7 bp −$47 | 162.9 bp −$1,629 | 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 | −0.0466% | 1h | 0.6974 | −0.143% | $41K | $12K | 10x | as long as short |
| Bybit ETHFIUSDT | −0.0313% | 4h | 0.6974 | −0.143% | $17.1M | $13.0M | 25x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0279% | 4h | 0.6971 | −0.186% | $16K | $1K | 10x | as long as short |
| Variational Omni ETHFI | −0.0273% | 4h | 0.6973 | −0.153% | $929K | $795K | — | as long as short |
| HTX ETHFI-USDT | −0.0146% | 4h | 0.6974 | −0.143% | $83K | $149K | 20x | as long as short |
| Paradex ETHFI-USD-PERP | −0.0107% | 8h | 0.6977 | −0.095% | $6K | — | 5x | as long as short |
| MEXC ETHFI_USDT | +0.0012% | 4h | 0.6970 | −0.200% | $15.8M | $4.1M | 125x | as long as short |
| Binance ETHFIUSDT | +0.0014% | 4h | 0.6970 | −0.199% | $24.4M | $36.1M | 75x | as long as short |
| Extended ETHFI-USD | +0.0016% | 1h | 0.6967 | −0.242% | $95K | $505K | 10x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +3.666% | $321 | $51K | 5.5x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
Bybit ETHFIUSDT
Orderly PERP_ETHFI_USDC
Variational Omni ETHFI
HTX ETHFI-USDT
Paradex ETHFI-USD-PERP
MEXC ETHFI_USDT
Binance ETHFIUSDT
Extended ETHFI-USD
Injective ETHFI/USDC PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin ETHFI-USDT | +0.0055% | 4h | 0.6982 | −0.029% | $1.2M | $233K | 75x | as long as short |
| Aevo ETHFI-PERP | +0.0080% | 1h | 0.6970 | −0.200% | $8K | — | 3x | as long as short |
| Aster ETHFIUSDT | +0.0088% | 4h | 0.6983 | −0.019% | $179K | $230K | 10x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.6984 | +0.006% | $1.1M | $828K | 5x | as long as short |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6980 | −0.059% | $16.7M | $8.7M | 5x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6974 | −0.143% | $5.1M | $12.6M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6980 | −0.057% | $1.7M | $1.9M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6979 | −0.072% | $1.2M | $215K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6972 | −0.172% | $6.1M | $4.7M | 75x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.6975 | −0.129% | — | $1.2M | — | as long as short |
| Polymarket Perps ETHFI-USDlong | +0.0100% | 1h | 0.6984 | long leg | $53K | $149K | 5x | |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6988 | +0.057% | $2K | $1.1M | 20x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0336% | 1h | 0.7020 | +0.515% | $32K | $6K | 50x | as long as short |
| Kraken Futures PF_ETHFIUSDshort | +0.0864% | 1h | 0.6992 | +0.119% | $294K | $287K | 20x |
BloFin ETHFI-USDT
Aevo ETHFI-PERP
Aster ETHFIUSDT
Lighter ETHFI
Hyperliquid ETHFI
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDC
SunX ETHFI-USDT
Coinbase International ETHFI-PERP-INTX