Funding you earn now, next payment 07:00 UTC−0.1504%/8h= −164.7% APRpaid last 24h −0.213%
Price spread now: Binance against Kraken Futures−0.274%7-day average −0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$217as in the Funding arb table
Net, price: spread back to 7d avg − costs−$175as in the Price arb table
costs, in and out, $10k−$1531.528% of the position
Funding, last 7 days−0.643%−$64 on $10k
+Price spread, last 4 days (all we have)+0.294%+$29 · spread now −0.274%, 7d avg −0.054%
=Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Binance is 0.220% cheaper against Kraken Futures than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.054%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.643% in total (about -33.5% 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_SPXUSD | 0.5163 | 0.1604 | pay 0.0201% / 1h | 1m 00s | $256K | $555K | 20x |
| Short | Binance SPXUSDT | 0.5149 | 0.0100 | get 0.0050% / 4h | 1h 01m | $5.2M | $23.7M | 75x |
Kraken Futures PF_SPXUSD
Binance SPXUSDTFunding 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
- −$315.88
- Price spread: −0.274% → −0.054%
- −$22
- Slippage, 4 orders
- −$132.76
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$490.64
- Costs to cover
- 1.528%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 42 min ago; Binance: live order book, 10 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, 42 min ago | 37.89 bp | 61.3 bp −$61 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 3.86 bp | 21.5 bp −$21 | 64.3 bp −$643 | 507.2 bp −$50.7K | doesn't fit |
SPX on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −3.561% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5153 | −0.185% | $140K | $405K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5150 | −0.247% | $10.4M | $8.3M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5148 | −0.287% | $137K | $93K | 10x | as long as short |
| Binance SPXUSDTshort | +0.0100% | 4h | 0.5149 | −0.274% | $5.2M | $23.7M | 75x | |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5144 | −0.365% | $11.8M | $17.7M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5144 | −0.365% | $971K | $3.4M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5145 | −0.346% | $1.0M | $653K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5150 | −0.249% | $11.9M | $5.4M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5149 | −0.268% | $3.7M | $5.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Aster SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPXUSDT | +0.0100% | 4h | 0.5153 | −0.191% | $2.6M | $1.5M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5145 | −0.346% | — | $7.0M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.5176 | +0.247% | $1.0M | $1.6M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5173 | +0.196% | $26K | $254K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5138 | −0.481% | $8K | $1.8M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5149 | −0.277% | $33K | $243K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0174% | 4h | 0.5152 | −0.210% | $20K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5147 | −0.307% | $258K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1604% | 1h | 0.5163 | long leg | $256K | $555K | 20x |
Bitget SPXUSDT
BingX SPX-USDT
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Orderly PERP_SPX_USDC
BloFin SPX-USDT