Funding you earn now, next payment 07:00 UTC−0.0548%/8h= −60.0% APRpaid last 24h −0.035%
Price spread now: Binance against Kraken Futures−0.086%7-day average −0.056% · you buy dearer than you sell
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$570.570% of the position
Funding, last 7 days−0.172%−$17 on $10k
+Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.086%, 7d avg −0.056%
=Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Binance is 0.030% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.056%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.172% in total (about -8.9% 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 | Kraken Futures PF_FETUSD | 0.2004 | 0.0649 | pay 0.0081% / 1h | 45m 13s | $1.0M | $2.1M | 50x |
| Short | Binance FETUSDT | 0.2002 | 0.0101 | get 0.0101% / 8h | 1h 45m | $30.5M | $115.0M | 75x |
Kraken Futures PF_FETUSD
Binance FETUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Kraken Futures. 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
- −$115.01
- Price spread: −0.086% → −0.056%
- −$3.02
- Slippage, 4 orders
- −$37.05
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$175.08
- Costs to cover
- 0.570%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Binance: live order book, 13 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 Kraken Futures live order book, 3 min ago | 7.49 bp | 18.4 bp −$18 | 70.2 bp −$702 | doesn't fit | doesn't fit |
| Sell Binance live order book, 13 min ago | 2.48 bp | 12.3 bp −$12 | 23.1 bp −$231 | 127.3 bp −$12.7K | 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-PERPETUAL | −0.3730% | 1h | 0.2002 | −0.095% | $41K | $312K | 10x | as long as short |
| Coinbase International FET-PERP-INTX | −0.0688% | 1h | 0.1997 | −0.344% | $150K | $261K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.1999 | −0.221% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | +0.304% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2001 | −0.155% | $190K | $817K | 10x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.1998 | −0.294% | $2.6M | $12.8M | 50x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2000 | −0.195% | $10.4M | $18.4M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.1998 | −0.287% | $284K | $491K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.2000 | −0.195% | $37K | $7K | 10x | as long as short |
| Binance FETUSDTshort | +0.0101% | 8h | 0.2002 | −0.086% | $30.5M | $115.0M | 75x |
Deribit FET_USDC-PERPETUAL
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_USDCShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC FET_USDT | +0.0101% | 8h | 0.2000 | −0.195% | $29.2M | $25.2M | 200x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2001 | −0.123% | $33K | $202K | 10x | as long as short |
| BingX FET-USDT | +0.0192% | 8h | 0.1999 | −0.245% | — | $5.9M | — | as long as short |
| Bitget FETUSDT | +0.0197% | 8h | 0.2002 | −0.095% | $16.3M | $11.9M | 75x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.2000 | −0.216% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0221% | 8h | 0.2002 | −0.095% | $1.7M | $3.2M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0450% | 4h | 0.2002 | −0.095% | $988K | $8.2M | 20x | as long as short |
| Hyperliquid FET | +0.0598% | 1h | 0.2002 | −0.100% | $8.5M | $8.4M | 5x | as long as short |
| Phoenix FET | +0.0635% | 1h | 0.2005 | +0.070% | $35K | $38K | 5x | as long as short |
| Kraken Futures PF_FETUSDlong | +0.0649% | 1h | 0.2004 | long leg | $1.0M | $2.1M | 50x |
MEXC FET_USDT
Extended FET-USD
BingX FET-USDT
Bitget FETUSDT
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
Hyperliquid FET
Phoenix FET