Funding you earn now, next payment 08:00 UTC−0.1222%/8h= −133.8% APRpaid last 24h −0.197%
Price spread now: Binance against Kraken Futures−0.165%7-day average −0.124% · you buy dearer than you sell
Net, funding: paid 7d − costs−$287as in the Funding arb table
Net, price: spread back to 7d avg − costs−$266as in the Price arb table
costs, in and out, $10k−$2622.624% of the position
Funding, last 7 days−0.248%−$25 on $10k
+Price spread, last 4 days (all we have)+0.258%+$26 · spread now −0.165%, 7d avg −0.124%
=Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Binance is 0.041% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.124%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.248% in total (about -12.9% 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 | Kraken Futures PF_WUSD | 0.01179 | 0.1322 | pay 0.0165% / 1h | 11m 58s | $147K | $53K | 20x |
| Short | Binance WUSDT | 0.01177 | 0.0100 | get 0.0050% / 4h | 11m 58s | $3.0M | $5.1M | 50x |
Kraken Futures PF_WUSD
Binance WUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$256.65
- Price spread: −0.165% → −0.124%
- −$4.1
- Slippage, 4 orders
- −$242.36
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$523.1
- Costs to cover
- 2.624%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 25 min ago; Binance: live order book, 10 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, 25 min ago | 21.66 bp | 145.8 bp −$146 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 1.28 bp | 18.8 bp −$19 | 75.3 bp −$753 | 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 | 0.0000% | 1h | 0.01177 | −0.173% | $14K | $4K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.541% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01178 | −0.088% | $2.0M | $274K | 5x | as long as short |
| Binance WUSDTshort | +0.0100% | 4h | 0.01177 | −0.165% | $3.0M | $5.1M | 50x | |
| Bybit WUSDT | +0.0100% | 4h | 0.01175 | −0.317% | $4.1M | $1.5M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01176 | −0.283% | $1.3M | $1.5M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01175 | −0.368% | $428K | $234K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01177 | −0.182% | $12.3M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01176 | −0.258% | $387K | $190K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01178 | −0.088% | $1.3M | $572K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
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 | 0.01177 | −0.148% | — | $6.7M | — | as long as short |
| Backpack W_USDC_PERP | +0.0100% | 1h | 0.01179 | −0.029% | $46K | $52K | 15x | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01174 | −0.413% | $71K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01175 | −0.343% | $126K | $387K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01177 | −0.192% | $59K | $385K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0384% | 1h | 0.01186 | +0.582% | $13K | $13K | 50x | as long as short |
| Kraken Futures PF_WUSDlong | +0.1322% | 1h | 0.01179 | long leg | $147K | $53K | 20x |
BingX W-USDT
Backpack W_USDC_PERP
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX