Funding you earn now, next payment 06:00 UTC+0.1637%/8h= +179.2% APRpaid last 24h +0.138%
Price spread now: Kraken Futures against Binance+0.096%54s7-day average +0.122% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1,846as 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−$1,86718.668% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 4 days (all we have)−0.251%−$25 · spread now +0.096%, 7d avg +0.122%
=Funding pays, the price is against you. Kraken Futures is 0.026% cheaper against Binance than usual: you would sell low and buy high (spread +0.096% now, against its 7-day average of +0.122%). If the spread goes back, that is −$3 on $10k: about 1 hour of funding at the current rate (+$49 a day). At the pace of the last 7 days (+0.210% in total) that is about 21 hours. The two prices were read 54 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 0.210% in total (about 10.9% 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 | Binance WUSDT | 0.01176 | 0.0100 | pay 0.0050% / 4h | 2h 48m | $2.9M | $5.4M | 50x |
| Short | Kraken Futures PF_WUSD | 0.01177 | 0.1737 | get 0.0217% / 1h | 48m 22s | $146K | $185K | 20x |
Binance WUSDT
Kraken Futures PF_WUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- $343.68
- Price spread: +0.096% → +0.122%
- −$2.58
- Slippage, 4 orders
- −$1,846.75
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$1,525.65
- Costs to cover
- 18.668%
- Break-even
- 38.1 days
Slippage from Binance: live order book, 5 min ago; Kraken Futures: live order book, 64 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 Binance live order book, 5 min ago | 2.13 bp | 20.6 bp −$21 | 133.7 bp −$1,337 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 64 min ago | 13.03 bp | 56.7 bp −$57 | doesn't fit | doesn't fit | doesn't fit |
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0090% | 1h | 0.01174 | −0.102% | $15K | $3K | 10x | as long as short |
| Gate W_USDT | +0.0008% | 4h | 0.01170 | −0.476% | $428K | $237K | 75x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.842% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01177 | +0.120% | $2.0M | $286K | 5x | as long as short |
| Binance WUSDTlong | +0.0100% | 4h | 0.01176 | long leg | $2.9M | $5.4M | 50x | |
| Bybit WUSDT | +0.0100% | 4h | 0.01174 | −0.161% | $4.1M | $1.6M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01175 | −0.025% | $1.3M | $1.6M | 20x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01176 | +0.043% | $12.5M | $1.3M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01174 | −0.136% | $390K | $198K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01176 | +0.035% | $1.3M | $541K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Gate W_USDT
Injective W/USDC PERP
Hyperliquid W
Bybit WUSDT
OKX W-USDT-SWAP
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01175 | −0.093% | — | $6.7M | — | as long as short |
| Backpack W_USDC_PERP | +0.0100% | 1h | 0.01176 | +0.009% | $44K | $42K | 15x | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01172 | −0.268% | $72K | $40K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01176 | −0.003% | $124K | $375K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01174 | −0.132% | $60K | $151K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0400% | 1h | 0.01178 | +0.162% | $14K | $13K | 50x | as long as short |
| Kraken Futures PF_WUSDshort | +0.1737% | 1h | 0.01177 | +0.096% | $146K | $185K | 20x |
BingX W-USDT
Backpack W_USDC_PERP
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX