Funding you earn now, next payment 03:00 UTC+0.0842%/8h= +92.2% APRpaid last 24h +0.219%
Price spread now: MEXC against Kraken Futures−0.103%51s7-day average −0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$144as 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−$1081.079% of the position
Funding, last 7 days−0.361%−$36 on $10k
+Price spread, last 4 days (all we have)+0.570%+$57 · spread now −0.103%, 7d avg −0.020%
=Funding pays, the price is against you. MEXC is 0.084% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.103% now, against its 7-day average of −0.020%). If the spread goes back, that is −$8 on $10k: about 8 hours of funding at the current rate (+$25 a day). Mind the row above: over the last 7 days funding on this pair cost −0.361%, so the current rate has only just turned in your favour. 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 -0.361% in total (about -18.8% 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_USUALUSD | 0.01398 | −0.0742 | get 0.0093% / 1h | 2m 19s | $113K | $18K | 10x |
| Short | MEXC USUAL_USDT | 0.01397 | 0.0100 | get 0.0050% / 4h | 1h 02m | $6.1M | $231K | 100x |
Kraken Futures PF_USUALUSD
MEXC USUAL_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $176.9
- Price spread: −0.103% → −0.020%
- −$8.39
- Slippage, 4 orders
- −$93.93
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- $60.58
- Costs to cover
- 1.079%
- Break-even
- 4.6 days
Slippage from Kraken Futures: live order book, 60 min ago; MEXC: live order book, just now.
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, 60 min ago | 36.87 bp | 42.3 bp −$42 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, just now | 3.22 bp | 8.6 bp −$9 | 104.9 bp −$1,049 | 852.3 bp −$85.2K | 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 | −0.4981% | 1h | 0.01385 | −0.940% | $6K | $2K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDlong | −0.0742% | 1h | 0.01398 | long leg | $113K | $18K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01398 | −0.010% | $400K | $171K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01397 | −0.075% | $2.2M | $3.2M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01399 | +0.068% | $1.1M | $740K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01400 | +0.133% | $946K | $106K | 50x | as long as short |
| MEXC USUAL_USDTshort | +0.0100% | 4h | 0.01397 | −0.103% | $6.1M | $231K | 100x | |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01399 | +0.061% | $275K | $56K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01398 | −0.010% | $829K | $373K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01399 | +0.068% | — | $1.2M | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
Gate USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
BingX USUAL-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01402 | +0.285% | $10K | $208 | — | as long as short |
Variational Omni USUAL