Funding you earn now, next payment 07:00 UTC+0.5388%/8h= +590.0% APRnext payment +$6.74 per $10,000 · paid last 24h +0.716%
Price spread now: Kraken Futures against Deribit+0.106%7-day average +0.062% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$61as in the Price arb table
costs, in and out, $10k−$660.659% of the position
Funding, last 6 days (all we have)+1.060%+$106 on $10k
+Price spread, last 4 days (all we have)−0.069%−$7 · spread now +0.106%, 7d avg +0.062%
=Both sides work for this trade now. Funding pays +$162 a day on $10k at the current rate, and Kraken Futures is 0.044% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.062%.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid 1.060% in total (about 65.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$6.74 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 | Deribit FET_USDC-PERPETUAL | 0.1995 | −0.4738 | get 0.0592% / 1h | 27m 06s | $41K | $312K | 10x |
| Short | Kraken Futures PF_FETUSD | 0.1997 | 0.0651 | get 0.0081% / 1h | 27m 06s | $986K | $2.2M | 50x |
Deribit FET_USDC-PERPETUAL
Kraken Futures PF_FETUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Deribit. 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
- $1,131.54
- Price spread: +0.106% → +0.062%
- $4.41
- Slippage, 4 orders
- −$48.87
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $1,070.08
- Costs to cover
- 0.659%
- Break-even
- 0.4 days
Slippage from Deribit: live order book, 16 min ago; Kraken Futures: live order book, 1 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 Deribit live order book, 16 min ago | 10.00 bp | 13.5 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 10.53 bp | 18.7 bp −$19 | 40.5 bp −$405 | doesn't fit | doesn't fit |
FET on 20 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 FET_USDC-PERPETUALlong | −0.4738% | 1h | 0.1995 | long leg | $41K | $312K | 10x | |
| Coinbase International FET-PERP-INTX | −0.0688% | 1h | 0.1995 | 0.000% | $150K | $259K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.1990 | −0.275% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | +0.752% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.1994 | −0.050% | $189K | $815K | 10x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.1993 | −0.100% | $2.6M | $12.9M | 50x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.1995 | 0.000% | $10.4M | $18.3M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.1995 | +0.008% | $273K | $501K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.1994 | −0.050% | $37K | $7K | 10x | as long as short |
| Extended FET-USD | +0.0112% | 1h | 0.1994 | −0.025% | $33K | $201K | 10x | as long as short |
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Gate FET_USDT
KuCoin FETUSDTM
Variational Omni FET
Orderly PERP_FET_USDC
Extended FET-USDShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC FET_USDT | +0.0113% | 8h | 0.1995 | 0.000% | $29.1M | $25.2M | 200x | as long as short |
| Binance FETUSDT | +0.0116% | 8h | 0.1995 | 0.000% | $30.4M | $114.7M | 75x | as long as short |
| Bitget FETUSDT | +0.0189% | 8h | 0.1995 | 0.000% | $16.2M | $11.8M | 75x | as long as short |
| BingX FET-USDT | +0.0189% | 8h | 0.1996 | +0.050% | — | $5.9M | — | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.1993 | −0.104% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0236% | 8h | 0.1994 | −0.050% | $1.7M | $3.2M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0422% | 4h | 0.1996 | +0.050% | $984K | $8.1M | 20x | as long as short |
| Hyperliquid FET | +0.0582% | 1h | 0.1997 | +0.085% | $8.4M | $8.5M | 5x | as long as short |
| Phoenix FET | +0.0635% | 1h | 0.1994 | −0.060% | $35K | $38K | 5x | as long as short |
| Kraken Futures PF_FETUSDshort | +0.0651% | 1h | 0.1997 | +0.106% | $986K | $2.2M | 50x |
MEXC FET_USDT
Binance FETUSDT
Bitget FETUSDT
BingX FET-USDT
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
Hyperliquid FET
Phoenix FET