Funding you earn now, next payment 09:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.002%
Price spread now: OKX against Kraken Futures+0.006%7-day average −0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$210.210% of the position
Funding, last 7 days−0.014%−$1 on $10k
+Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.006%, 7d avg −0.015%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.021% dearer against Kraken Futures than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.015%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XBTUSD | 85,839.5 | 0.0068 | pay 0.0008% / 1h | 19m 03s | $187.2M | $876.7M | 100x |
| Short | OKX BTC-USDT-SWAP | 85,844.7 | 0.0100 | get 0.0100% / 8h | 7h 19m | $2.61B | $10.91B | 100x |
Kraken Futures PF_XBTUSD
OKX BTC-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $6.74
- Price spread: +0.006% → −0.015%
- $2.09
- Slippage, 4 orders
- −$1
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$12.17
- Costs to cover
- 0.210%
- Break-even
- 19.6 days
Slippage from Kraken Futures: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago | 0.06 bp | 5.9 bp −$6 | 7.6 bp −$76 | 9.2 bp −$915 | 11.3 bp −$5,627 |
| Sell OKX live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.4 bp −$535 | 6.5 bp −$3,271 |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0659% | 1h | 85,858.9 | +0.023% | $194K | $684K | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,794 | −0.053% | $8K | $2K | 50x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,812.5 | −0.031% | $425.5M | $623.1M | 150x | as long as short |
| Injective BTC/USDC PERP | −0.0006% | 1h | 85,817 | −0.026% | $307K | $26.6M | 52x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,838.5 | −0.001% | $354K | $2.1M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,830 | −0.011% | $36.7M | — | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0024% | 8h | 85,820.8 | −0.022% | $923.9M | $697.0M | 125x | as long as short |
| Aster BTCUSDT | +0.0042% | 8h | 85,868.3 | +0.034% | $505.3M | $1.00B | 200x | as long as short |
| dYdX BTC-USD | +0.0047% | 1h | 85,874 | +0.040% | $16.8M | $20.4M | 50x | as long as short |
| Kraken Futures PF_XBTUSDlong | +0.0068% | 1h | 85,839.5 | long leg | $187.2M | $876.7M | 100x |
Bluefin BTC-PERP
Hotstuff BTC-PERP
BloFin BTC-USDT
Injective BTC/USDC PERP
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
KuCoin XBTUSDTM
Aster BTCUSDT
dYdX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | +0.0075% | 1h | 85,843 | +0.004% | $2.3M | $10.4M | 40x | as long as short |
| BingX BTC-USDC | +0.0080% | 8h | 85,821 | −0.022% | — | $17.4M | — | as long as short |
| Nado BTC-PERP | +0.0084% | 1h | 85,828.4 | −0.013% | $22.8M | $211.2M | 50x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,833.4 | −0.007% | $172.3M | $955.9M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,828 | −0.013% | $23.2M | $136.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,838 | −0.002% | $8.7M | $52.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,817.8 | −0.025% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,818 | −0.025% | $256K | $8.3M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,917 | +0.090% | $5.8M | $9.1M | 50x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,883 | +0.051% | $40.4M | $591.1M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,844.1 | +0.005% | $9.43B | $23.37B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,850.4 | +0.013% | $5.10B | $9.73B | 150x | as long as short |
| OKX BTC-USDT-SWAPshort | +0.0100% | 8h | 85,844.7 | +0.006% | $2.61B | $10.91B | 100x | |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,844 | +0.005% | $3.9M | $16.4M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,859.8 | +0.024% | $4.6M | $95.7M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,303.3 | −0.625% | $702.0M | $164.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,840.7 | +0.001% | $5.51B | $10.04B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,826.6 | −0.015% | $5.09B | $5.81B | 500x | as long as short |
| Bitget BTCUSDT | +0.0100% | 8h | 85,869.5 | +0.035% | $2.99B | $4.66B | 150x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,820.7 | −0.022% | $37.8M | $188.3M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,817.8 | −0.025% | $156.4M | $529.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,769 | −0.082% | $286.9M | $969.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,841.6 | +0.003% | $215.6M | $155.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,826.9 | −0.015% | $137.1M | $305.1M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,846.8 | +0.008% | $30.3M | $215.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,916.3 | +0.090% | — | $9.7M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,846 | +0.008% | $11.0M | $13.8M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,828 | −0.013% | $210K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,829.4 | −0.012% | $2.6M | $9.5M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,444.6 | −0.460% | $28.8M | $52.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,814.6 | −0.029% | $3.1M | $6.9M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,815 | −0.029% | $60.1M | $283.8M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,820.8 | −0.022% | $2.27B | $917.7M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,828 | −0.013% | $166.2M | $503.0M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,797.7 | −0.049% | $46.2M | $227.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,862.3 | +0.027% | — | $95.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,869 | +0.034% | $112.4M | $5.34B | 50x | as long as short |
| Deribit BTC-PERPETUAL | +0.0148% | 1h | 85,866.3 | +0.031% | $832.8M | $1.62B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0151% | 1h | 85,822.8 | −0.019% | $6.6M | $135.0M | 40x | as long as short |
| Hyperliquid BTC | +0.0155% | 1h | 85,913 | +0.086% | $3.86B | $4.75B | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0189% | 8h | 85,880 | +0.047% | $11.0M | $728.2M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,872.2 | +0.038% | $9.0M | $41.0M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0198% / S −0.0175% | 1h | 85,805.8 | −0.039% | $12.9M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0336% | 1h | 85,833.6 | −0.007% | $701K | $7.4M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0360% | 1h | 85,709.5 | −0.151% | $81K | $260K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,811.6 | −0.032% | $462K | $17.3M | 6.7x | as long as short |
Phoenix BTC
BingX BTC-USDC
Nado BTC-PERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
MEXC BTC_USDT
Bitget BTCUSDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Deribit BTC-PERPETUAL
Reya BTCRUSDPERP
Hyperliquid BTC
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC