Funding you earn now, next payment 04:00 UTC−0.1183%/8h= −129.6% APRpaid last 24h −0.198%
Price spread now: Gate against Kraken Futures−0.387%51s7-day average −0.132% · you buy dearer than you sell
Net, funding: paid 7d − costs−$439as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$3743.744% of the position
Funding, last 7 days−0.649%−$65 on $10k
+Price spread, last 4 days (all we have)+0.616%+$62 · spread now −0.387%, 7d avg −0.132%
=Both sides work against this trade now: funding costs −$36 a day on $10k at the current rate, and Gate is 0.255% cheaper against Kraken Futures than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.132%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.649% in total (about -33.9% 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_SPXUSD | 0.5029 | 0.1283 | pay 0.0160% / 1h | 18m 20s | $245K | $550K | 20x |
| Short | Gate SPX_USDT | 0.5010 | 0.0100 | get 0.0050% / 4h | 18m 20s | $999K | $563K | 50x |
Kraken Futures PF_SPXUSD
Gate SPX_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$248.52
- Price spread: −0.387% → −0.132%
- −$25.55
- Slippage, 4 orders
- −$349.36
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$648.43
- Costs to cover
- 3.744%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 40 min ago; Gate: live order book, 4 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, 40 min ago | 60.12 bp | 76.1 bp −$76 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 4 min ago | 6.98 bp | 112.6 bp −$113 | doesn't fit | doesn't fit | 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 | −1.004% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5016 | −0.264% | $135K | $357K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5017 | −0.246% | $10.2M | $7.5M | 5x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5013 | −0.334% | $5.0M | $21.4M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5005 | −0.487% | $11.3M | $16.3M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5009 | −0.407% | $931K | $2.9M | 20x | as long as short |
| Gate SPX_USDTshort | +0.0100% | 4h | 0.5010 | −0.387% | $999K | $563K | 50x | |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5013 | −0.328% | $11.7M | $4.9M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5014 | −0.308% | $3.7M | $5.3M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5015 | −0.288% | $2.6M | $1.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX SPX-USDT | +0.0100% | 4h | 0.5014 | −0.308% | — | $6.9M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.5009 | −0.406% | $844K | $1.4M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5017 | −0.248% | $25K | $254K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5012 | −0.348% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5014 | −0.314% | $33K | $247K | 10x | as long as short |
| Aster SPXUSDT | +0.0142% | 4h | 0.5016 | −0.269% | $134K | $122K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0163% | 4h | 0.5021 | −0.169% | $20K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5021 | −0.169% | $247K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1283% | 1h | 0.5029 | long leg | $245K | $550K | 20x |
BingX SPX-USDT
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Aster SPXUSDT
Orderly PERP_SPX_USDC
BloFin SPX-USDT