Funding you earn now, next payment 07:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h −0.227%
Price spread now: Kraken Futures against BingX−0.018%7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$112as in the Funding arb table
Net, price: spread back to 7d avg − costs−$134as in the Price arb table
costs, in and out, $10k−$1381.376% of the position
Funding, last 7 days+0.260%+$26 on $10k
+Price spread, last 4 days (all we have)−0.113%−$11 · spread now −0.018%, 7d avg −0.051%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kraken Futures is 0.032% dearer against BingX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.051%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX USUAL-USDT | 0.01382 | 0.0100 | pay 0.0050% / 4h | 1h 46m | — | $1.2M | — |
| Short | Kraken Futures PF_USUALUSD | 0.01382 | 0.0141 | get 0.0018% / 1h | 46m 11s | $109K | $19K | 10x |
BingX USUAL-USDT
Kraken Futures PF_USUALUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BingX. 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
- $8.55
- Price spread: −0.018% → −0.051%
- $3.22
- Slippage, 4 orders
- −$117.57
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$125.8
- Costs to cover
- 1.376%
- Break-even
- 110.0 days
Slippage from BingX: live order book, 14 min ago; Kraken Futures: live order book, 61 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 BingX live order book, 14 min ago | 5.37 bp | 23.0 bp −$23 | 117.5 bp −$1,175 | 461.8 bp −$46.2K | 678.5 bp −$339.2K |
| Sell Kraken Futures live order book, 61 min ago | 38.80 bp | 46.4 bp −$46 | doesn't fit | doesn't fit | doesn't fit |
USUAL on 11 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 USUAL/USDC PERP | −0.5000% | 1h | 0.01373 | −0.644% | $6K | $3K | 5.5x | as long as short |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01382 | +0.007% | $393K | $188K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01382 | −0.007% | $2.2M | $3.2M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01383 | +0.080% | $1.0M | $784K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01384 | +0.152% | $936K | $107K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01381 | −0.051% | $6.1M | $261K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01384 | +0.152% | $265K | $65K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01383 | +0.080% | $800K | $405K | 50x | as long as short |
| BingX USUAL-USDTlong | +0.0100% | 4h | 0.01382 | long leg | — | $1.2M | — | |
| Variational Omni USUAL | +0.0100% | 4h | 0.01392 | +0.743% | $10K | $1K | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
Variational Omni USUALShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_USUALUSDshort | +0.0141% | 1h | 0.01382 | −0.018% | $109K | $19K | 10x |