Funding you earn now, next payment 07:00 UTC−0.4383%/8h= −480.0% APRnext payment −$5.48 per $10,000 · paid last 24h −0.716%
Price spread now: Deribit against Kraken Futures−0.115%7-day average −0.062% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$540.543% of the position
Funding, last 6 days (all we have)−1.060%−$106 on $10k
+Price spread, last 4 days (all we have)+0.078%+$8 · spread now −0.115%, 7d avg −0.062%
=Both sides work against this trade now: funding costs −$131 a day on $10k at the current rate, and Deribit is 0.053% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.062%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid -1.060% in total (about -65.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.48 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_FETUSD | 0.2002 | 0.0649 | pay 0.0081% / 1h | 47m 46s | $1.0M | $2.1M | 50x |
| Short | Deribit FET_USDC-PERPETUAL | 0.2000 | −0.3734 | pay 0.0467% / 1h | 47m 46s | $41K | $312K | 10x |
Kraken Futures PF_FETUSD
Deribit FET_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$920.46
- Price spread: −0.115% → −0.062%
- −$5.32
- Slippage, 4 orders
- −$37.28
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$980.06
- Costs to cover
- 0.543%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Deribit: live order book, 61 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, 1 min ago | 7.49 bp | 18.4 bp −$18 | 70.2 bp −$702 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 61 min ago | 5.03 bp | 8.5 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
FET on 20 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 FET_USDC-PERPETUALshort | −0.3734% | 1h | 0.2000 | −0.115% | $41K | $312K | 10x | |
| Coinbase International FET-PERP-INTX | −0.0688% | 1h | 0.2023 | +1.034% | $152K | $265K | 50x | as long as short |
| gTrade (Gains Network) FET/USD | L +0.0006% / S −0.0004% | 1h | 0.1999 | −0.164% | $20K | — | 150x | as long as short |
| Injective FET/USDC PERP | +0.0033% | 1h | 0.2010 | +0.384% | $3K | $166K | 12x | as long as short |
| Aster FETUSDT | +0.0100% | 8h | 0.2000 | −0.108% | $190K | $817K | 10x | as long as short |
| Gate FET_USDT | +0.0100% | 8h | 0.1999 | −0.165% | $2.6M | $12.8M | 50x | as long as short |
| KuCoin FETUSDTM | +0.0100% | 8h | 0.2002 | −0.015% | $10.4M | $18.4M | 50x | as long as short |
| Variational Omni FET | +0.0100% | 8h | 0.2002 | −0.007% | $284K | $491K | — | as long as short |
| Orderly PERP_FET_USDC | +0.0100% | 8h | 0.1998 | −0.215% | $37K | $7K | 10x | as long as short |
| MEXC FET_USDT | +0.0101% | 8h | 0.2001 | −0.065% | $29.3M | $25.1M | 200x | as long as short |
Coinbase International FET-PERP-INTX
gTrade (Gains Network) FET/USD
Injective FET/USDC PERP
Aster FETUSDT
Gate FET_USDT
KuCoin FETUSDTM
Variational Omni FET
Orderly PERP_FET_USDC
MEXC FET_USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance FETUSDT | +0.0101% | 8h | 0.1999 | −0.165% | $30.5M | $115.0M | 75x | as long as short |
| Extended FET-USD | +0.0104% | 1h | 0.2001 | −0.047% | $33K | $206K | 10x | as long as short |
| BingX FET-USDT | +0.0192% | 8h | 0.2001 | −0.065% | — | $5.9M | — | as long as short |
| Bitget FETUSDT | +0.0200% | 8h | 0.2002 | −0.015% | $16.3M | $11.9M | 75x | as long as short |
| GMX FET/USD [ETH-USDC] | L +0.0201% / S −0.0301% | 1h | 0.1998 | −0.220% | $13K | — | 100x | as long as short |
| BloFin FET-USDT | +0.0221% | 8h | 0.2000 | −0.115% | $1.7M | $3.2M | 100x | as long as short |
| OKX FET-USDT-SWAP | +0.0456% | 4h | 0.2000 | −0.115% | $990K | $8.2M | 20x | as long as short |
| Hyperliquid FET | +0.0565% | 1h | 0.2002 | −0.010% | $8.5M | $8.4M | 5x | as long as short |
| Phoenix FET | +0.0635% | 1h | 0.2005 | +0.150% | $35K | $38K | 5x | as long as short |
| Kraken Futures PF_FETUSDlong | +0.0649% | 1h | 0.2002 | long leg | $1.0M | $2.1M | 50x |
Binance FETUSDT
Extended FET-USD
BingX FET-USDT
Bitget FETUSDT
GMX FET/USD [ETH-USDC]
BloFin FET-USDT
OKX FET-USDT-SWAP
Hyperliquid FET
Phoenix FET