Funding you earn now, next payment 06:00 UTC−0.0382%/8h= −41.8% APRpaid last 24h −0.093%
Price spread now: Kraken Futures against Binance+0.269%54s7-day average +0.102% · you sell dearer than you buy
Net, funding: paid 7d − costs−$62as 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−$920.921% of the position
Funding, last 7 days+0.305%+$30 on $10k
+Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.269%, 7d avg +0.102%
=The price spread pays, funding is against you. Kraken Futures is 0.167% dearer against Binance than usual: you sell high and buy low (spread +0.269% now, against its 7-day average of +0.102%): +$17 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 35 hours. Mind the row above: over the last 7 days funding on this pair paid +0.305%, so the current rate has only just turned against you. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ETHFIUSDT | 0.6887 | −0.0032 | get 0.0016% / 4h | 2h 27m | $23.9M | $35.6M | 75x |
| Short | Kraken Futures PF_ETHFIUSD | 0.6906 | −0.0414 | pay 0.0052% / 1h | 27m 25s | $280K | $281K | 20x |
Binance ETHFIUSDT
Kraken Futures PF_ETHFIUSDFunding 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
- −$80.26
- Price spread: +0.269% → +0.102%
- $16.69
- Slippage, 4 orders
- −$72.06
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$155.63
- Costs to cover
- 0.921%
- Break-even
- never at this rate
Slippage from Binance: live order book, 14 min ago; Kraken Futures: live order book, 20 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, 14 min ago | 0.72 bp | 11.0 bp −$11 | 28.8 bp −$288 | 183.8 bp −$18.4K | doesn't fit |
| Sell Kraken Futures live order book, 20 min ago | 12.19 bp | 25.7 bp −$26 | 119.0 bp −$1,190 | doesn't fit | doesn't fit |
ETHFI on 24 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 ETHFI_USDC-PERPETUAL | −0.0475% | 1h | 0.6893 | +0.083% | $39K | $10K | 10x | as long as short |
| Kraken Futures PF_ETHFIUSDshort | −0.0414% | 1h | 0.6906 | +0.269% | $280K | $281K | 20x | |
| HTX ETHFI-USDT | −0.0386% | 4h | 0.6875 | −0.178% | $80K | $183K | 20x | as long as short |
| Bybit ETHFIUSDT | −0.0321% | 4h | 0.6889 | +0.025% | $17.1M | $12.9M | 25x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0265% | 4h | 0.6887 | −0.004% | $16K | $1K | 10x | as long as short |
| Variational Omni ETHFI | −0.0146% | 4h | 0.6900 | +0.191% | $901K | $762K | — | as long as short |
| Binance ETHFIUSDTlong | −0.0032% | 4h | 0.6887 | long leg | $23.9M | $35.6M | 75x | |
| Extended ETHFI-USD | −0.0032% | 1h | 0.6890 | +0.043% | $94K | $502K | 10x | as long as short |
| MEXC ETHFI_USDT | −0.0032% | 4h | 0.6889 | +0.025% | $15.6M | $4.1M | 125x | as long as short |
| Paradex ETHFI-USD-PERP | −0.0014% | 8h | 0.6891 | +0.057% | $6K | — | 5x | as long as short |
Deribit ETHFI_USDC-PERPETUAL
HTX ETHFI-USDT
Bybit ETHFIUSDT
Orderly PERP_ETHFI_USDC
Variational Omni ETHFI
Extended ETHFI-USD
MEXC ETHFI_USDT
Paradex ETHFI-USD-PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster ETHFIUSDT | +0.0025% | 4h | 0.6906 | +0.277% | $177K | $260K | 10x | as long as short |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +5.122% | $321 | $51K | 5.5x | as long as short |
| Aevo ETHFI-PERP | +0.0072% | 1h | 0.6890 | +0.040% | $8K | — | 3x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.6900 | +0.184% | $1.1M | $831K | 5x | as long as short |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6894 | +0.104% | $16.7M | $8.4M | 5x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6894 | +0.098% | $5.0M | $12.3M | 20x | as long as short |
| Gate ETHFI_USDT | +0.0100% | 4h | 0.6895 | +0.112% | $1.7M | $2.0M | 75x | as long as short |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6898 | +0.156% | $1.2M | $230K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6889 | +0.025% | $6.0M | $5.3M | 75x | as long as short |
| BingX ETHFI-USDT | +0.0100% | 4h | 0.6892 | +0.069% | — | $8.8M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.6896 | +0.121% | $62K | $127K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6899 | +0.171% | $2K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0209% | 4h | 0.6900 | +0.185% | $1.2M | $236K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0376% | 1h | 0.6900 | +0.185% | $31K | $6K | 50x | as long as short |
Aster ETHFIUSDT
Injective ETHFI/USDC PERP
Aevo ETHFI-PERP
Lighter ETHFI
Hyperliquid ETHFI
OKX ETHFI-USDT-SWAP
Gate ETHFI_USDT
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDT
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX