Funding you earn now, next payment 06:00 UTC−0.1335%/8h= −146.2% APRpaid last 24h −0.213%
Price spread now: OKX against Kraken Futures−0.326%7-day average −0.193% · you buy dearer than you sell
Net, funding: paid 7d − costs−$236as in the Funding arb table
Net, price: spread back to 7d avg − costs−$185as in the Price arb table
costs, in and out, $10k−$1721.721% of the position
Funding, last 7 days−0.638%−$64 on $10k
+Price spread, last 4 days (all we have)+0.227%+$23 · spread now −0.326%, 7d avg −0.193%
=Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and OKX is 0.133% cheaper against Kraken Futures than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.193%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.638% in total (about -33.3% 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 | 0.5123 | 0.1435 | pay 0.0179% / 1h | 48m 01s | $250K | $545K | 20x |
| Short | OKX SPX-USDT-SWAP | 0.5106 | 0.0100 | get 0.0050% / 4h | 2h 48m | $933K | $3.1M | 20x |
Kraken Futures PF_SPXUSD
OKX SPX-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$280.35
- Price spread: −0.326% → −0.193%
- −$13.27
- Slippage, 4 orders
- −$152.11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$465.73
- Costs to cover
- 1.721%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 65 min ago; OKX: 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, 65 min ago | 42.88 bp | 50.3 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 3.91 bp | 27.4 bp −$27 | 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 | −2.805% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5123 | 0.000% | $139K | $380K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5116 | −0.138% | $10.4M | $7.9M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5121 | −0.032% | $137K | $130K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5117 | −0.118% | $5.1M | $22.4M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5105 | −0.345% | $11.6M | $17.0M | 50x | as long as short |
| OKX SPX-USDT-SWAPshort | +0.0100% | 4h | 0.5106 | −0.326% | $933K | $3.1M | 20x | |
| Gate SPX_USDT | +0.0100% | 4h | 0.5116 | −0.131% | $1.0M | $596K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5120 | −0.052% | $11.9M | $5.1M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5118 | −0.092% | $3.7M | $5.4M | 50x | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
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 | 0.5122 | −0.013% | $2.7M | $1.5M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5118 | −0.092% | — | $6.9M | — | as long as short |
| Variational Omni SPX | +0.0100% | 4h | 0.5119 | −0.070% | $943K | $1.5M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5123 | +0.006% | $26K | $254K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5113 | −0.189% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5118 | −0.089% | $34K | $253K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0193% | 4h | 0.5127 | +0.084% | $20K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5123 | +0.006% | $253K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1435% | 1h | 0.5123 | long leg | $250K | $545K | 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