Funding you earn now, next payment 08:00 UTC+0.1377%/8h= +150.8% APRpaid last 24h +0.269%
Price spread now: Kraken Futures against Phemex+0.292%7-day average +0.056% · 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−$214as in the Price arb table
costs, in and out, $10k−$2372.373% of the position
Funding, last 5 days (all we have)−0.024%−$2 on $10k
+Price spread, last 4 days (all we have)−0.253%−$25 · spread now +0.292%, 7d avg +0.056%
=Both sides work for this trade now. Funding pays +$41 a day on $10k at the current rate, and Kraken Futures is 0.236% dearer against Phemex than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.056%.
The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.024% in total (about -1.6% 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 | Phemex SYNUSDT | 0.2431 | 0.0100 | pay 0.0050% / 4h | 36m 27s | $1.6M | $1.9M | 50x |
| Short | Kraken Futures PF_SYNUSD | 0.2438 | 0.1477 | get 0.0185% / 1h | 36m 27s | $179K | $758K | 10x |
Phemex SYNUSDT
Kraken Futures PF_SYNUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Phemex. 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
- $289.2
- Price spread: +0.292% → +0.056%
- $23.6
- Slippage, 4 orders
- −$215.28
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $75.52
- Costs to cover
- 2.373%
- Break-even
- 5.2 days
Slippage from Phemex: live order book, 2 min ago; Kraken Futures: live order book, 2 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 Phemex live order book, 2 min ago | 2.88 bp | 50.4 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 64.57 bp | 78.1 bp −$78 | 735.0 bp −$7,350 | doesn't fit | doesn't fit |
SYN on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SYNUSDT | +0.0100% | 4h | 0.2407 | −0.975% | $1.3M | $3.1M | 10x | as long as short |
| Orderly PERP_SYN_USDC_mythos | +0.0100% | 4h | 0.2415 | −0.646% | $3K | $35K | 10x | as long as short |
| Phemex SYNUSDTlong | +0.0100% | 4h | 0.2431 | long leg | $1.6M | $1.9M | 50x | |
| Binance SYNUSDT | +0.0229% | 4h | 0.2414 | −0.708% | $12.0M | $43.1M | 10x | as long as short |
| MEXC SYN_USDT | +0.0234% | 4h | 0.2409 | −0.901% | $2.9M | $8.1M | 50x | as long as short |
| BingX SYN-USDT | +0.0240% | 4h | 0.2410 | −0.860% | — | $3.3M | — | as long as short |
| Aster SYNUSDT | +0.1342% | 4h | 0.2415 | −0.647% | $2.8M | $991K | 5x | as long as short |
| Kraken Futures PF_SYNUSDshort | +0.1477% | 1h | 0.2438 | +0.292% | $179K | $758K | 10x |
Bitget SYNUSDT
Orderly PERP_SYN_USDC_mythos
Binance SYNUSDT
MEXC SYN_USDT
BingX SYN-USDT
Aster SYNUSDT