DOT

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0310%/8h= −33.9% APRnext payment −$0.39 per $10,000 · paid last 24h +0.029%

Price spread now: Backpack against Kraken Futures−0.020%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.211%+$21 · spread now −0.020%, 7d avg −0.035%

Together, before fees+0.231%+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.020% in total (about 1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 per $10,000. 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_DOTUSD	1.1960	0.0410	pay 0.0051% / 1h	35m 03s	$4.5M	$1.5M	50x
Short	Backpack DOT_USDC_PERP	1.1958	0.0100	get 0.0013% / 1h	35m 03s	$93K	$131K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BackpackbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$65.04
Price spread: −0.020% → −0.035%: $1.52
Slippage, 4 orders: −$25.48
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$109
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Backpack: live order book, 28 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, 4 min ago	3.36 bp	17.9 bp −$18	29.7 bp −$297	147.6 bp −$14.8K	doesn't fit
Sell Backpack live order book, 28 min ago	0.42 bp	6.1 bp −$6	doesn't fit	doesn't fit	doesn't fit

DOT on 29 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 DOT_USDC-PERPETUAL	−0.1669%	1h	1.1961	+0.005%	$228K	$116K	50x	as long as short
Coinbase International DOT-PERP-INTX	−0.0376%	1h	1.1950	−0.087%	$197K	$2.0M	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1951	−0.079%	$259	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1939	−0.179%	$144K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1954	−0.054%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+0.498%	$328	$121K	12x	as long as short
OKX DOT-USDT-SWAP	+0.0087%	8h	1.1962	+0.013%	$9.4M	$24.2M	50x	as long as short
Lighter DOT	+0.0096%	1h	1.1964	+0.028%	$271K	$631K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1963	+0.022%	$5.4M	$3.5M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1946	−0.124%	$864K	$706K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1959	−0.011%	$44.1M	$85.0M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1961	+0.005%	$24.6M	$19.0M	75x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1960	−0.003%	$6.8M	$11.7M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1960	−0.003%	$30.8M	$48.8M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1962	+0.013%	$6.5M	$9.2M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1953	−0.062%	$22.8M	$14.8M	75x	as long as short
BingX DOT-USDT	+0.0100%	8h	1.1960	−0.003%	—	$29.8M	—	as long as short
Backpack DOT_USDC_PERPshort	+0.0100%	1h	1.1958	−0.020%	$93K	$131K	10x
Variational Omni DOT	+0.0100%	8h	1.1933	−0.228%	$543K	$58K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1897	−0.530%	$35K	$334K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1902	−0.491%	$227K	$427K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1950	−0.087%	$8K	$23K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1967	+0.055%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1940	−0.171%	$260K	$242K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1957	−0.031%	$17K	$303K	25x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1962	+0.013%	$2.2M	$868K	75x	as long as short
Phemex DOTUSDT	+0.0287%	8h	1.1970	+0.080%	$2.3M	$2.2M	50x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0302% / S −0.1012%	1h	1.1953	−0.065%	$22K	—	100x	as long as short
Kraken Futures PF_DOTUSDlong	+0.0410%	1h	1.1960	long leg	$4.5M	$1.5M	50x