Funding you earn now, next payment 05:00 UTC−0.0174%/8h= −19.1% APRpaid last 24h +0.222%
Price spread now: BingX against Kraken Futures+0.004%53s7-day average +0.051% · you sell dearer than you buy
Net, funding: paid 7d − costs−$160as 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−$1361.361% of the position
Funding, last 7 days−0.242%−$24 on $10k
+Price spread, last 4 days (all we have)+0.170%+$17 · spread now +0.004%, 7d avg +0.051%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BingX is 0.047% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.051%). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_USUALUSD | 0.01405 | 0.0274 | pay 0.0034% / 1h | 46m 23s | $111K | $21K | 10x |
| Short | BingX USUAL-USDT | 0.01405 | 0.0100 | get 0.0050% / 4h | 3h 46m | — | $1.2M | — |
Kraken Futures PF_USUALUSD
BingX USUAL-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$36.57
- Price spread: +0.004% → +0.051%
- −$4.74
- Slippage, 4 orders
- −$116.1
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$177.4
- Costs to cover
- 1.361%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 6 min ago; BingX: live order book, 9 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, 6 min ago | 40.52 bp | 45.5 bp −$46 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 9 min ago | 4.62 bp | 23.3 bp −$23 | 118.9 bp −$1,189 | 484.8 bp −$48.5K | 720.2 bp −$360.1K |
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 | 0.01387 | −1.270% | $6K | $3K | 5.5x | as long as short |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01406 | +0.082% | $405K | $183K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01404 | −0.089% | $2.3M | $3.3M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01406 | +0.118% | $1.1M | $802K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01405 | +0.011% | $949K | $110K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01404 | −0.082% | $6.2M | $240K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01404 | −0.060% | $259K | $62K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01406 | +0.082% | $835K | $393K | 50x | as long as short |
| BingX USUAL-USDTshort | +0.0100% | 4h | 0.01405 | +0.004% | — | $1.2M | — | |
| Variational Omni USUAL | +0.0100% | 4h | 0.01408 | +0.257% | $11K | $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_USUALUSDlong | +0.0274% | 1h | 0.01405 | long leg | $111K | $21K | 10x |