Funding you earn now, next payment 23:00 UTC+0.0224%/8h= +24.5% APRnext payment +$0.28 per $10,000 · paid last 24h +0.137%
Price spread now: Kraken Futures against Deribit+0.152%7-day average +0.081% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$860.864% of the position
Funding, last 7 days+0.265%+$27 on $10k
+Price spread, last 3 days (all we have)−0.103%−$10 · spread now +0.152%, 7d avg +0.081%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.071% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.081%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit OP_USDC-PERPETUAL | 0.1285 | 0 | get 0.0000% / 1h | 5m 11s | $42K | $171K | 25x |
| Short | Kraken Futures PF_OPUSD | 0.1287 | 0.0224 | get 0.0028% / 1h | 5m 11s | $804K | $745K | 20x |
Deribit OP_USDC-PERPETUAL
Kraken Futures PF_OPUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Deribit. 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
- $46.97
- Price spread: +0.152% → +0.081%
- $7.09
- Slippage, 4 orders
- −$69.42
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$32.37
- Costs to cover
- 0.864%
- Break-even
- 11.8 days
Slippage from Deribit: live order book, 13 min ago; Kraken Futures: live order book, 13 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 Deribit live order book, 13 min ago | 11.71 bp | 15.2 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 13 min ago | 8.20 bp | 22.3 bp −$22 | 73.7 bp −$737 | doesn't fit | doesn't fit |
OP on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective OP/USDC PERP | −0.1710% | 1h | 0.1274 | −0.856% | $35K | $58K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1286 | +0.087% | $13K | — | 100x | as long as short |
| Coinbase International OP-PERP-INTX | −0.0360% | 1h | 0.1280 | −0.389% | $21K | $65K | 50x | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1286 | +0.104% | $40K | $519 | 10x | as long as short |
| Deribit OP_USDC-PERPETUALlong | 0.0000% | 1h | 0.1285 | long leg | $42K | $171K | 25x | |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1286 | +0.059% | — | — | 150x | as long as short |
| Orderly PERP_OP_USDC | +0.0063% | 8h | 0.1285 | 0.000% | $6K | $49K | 10x | as long as short |
| Variational Omni OP | +0.0068% | 8h | 0.1283 | −0.189% | $234K | $53K | — | as long as short |
| Lighter OP | +0.0096% | 1h | 0.1287 | +0.132% | $289K | $925K | 15x | as long as short |
| Hyperliquid OP | +0.0100% | 1h | 0.1287 | +0.125% | $4.2M | $2.9M | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Coinbase International OP-PERP-INTX
dYdX OP-USD
gTrade (Gains Network) OP/USD
Orderly PERP_OP_USDC
Variational Omni OP
Lighter OP
Hyperliquid OPShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPUSDT | +0.0100% | 8h | 0.1286 | +0.083% | $215K | $241K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1286 | +0.042% | $20.9M | $61.8M | 75x | as long as short |
| Bybit OPUSDT | +0.0100% | 8h | 0.1285 | −0.008% | $18.9M | $25.5M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0100% | 8h | 0.1286 | +0.047% | $6.1M | $30.4M | 50x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1286 | +0.078% | $2.0M | $1.6M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1285 | +0.039% | $20.4M | $7.2M | 300x | as long as short |
| KuCoin OPUSDTM | +0.0100% | 8h | 0.1285 | 0.000% | $2.9M | $7.4M | 75x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1286 | +0.078% | $6.1M | $6.3M | 75x | as long as short |
| BingX OP-USDC | +0.0100% | 8h | 0.1286 | +0.078% | — | $1.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1285 | +0.023% | $125K | $190K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1281 | −0.318% | $10K | $383K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1283 | −0.157% | $321K | $5.1M | 10x | as long as short |
| ApeX Omni OPUSDT | +0.0100% | 1h | 0.1282 | −0.233% | $46K | $722K | 50x | as long as short |
| SoDEX OP-USD | +0.0100% | 1h | 0.1285 | +0.031% | $172 | $6K | 5x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1285 | +0.031% | $178K | $232K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1285 | +0.014% | $103K | $186K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1285 | +0.039% | $4K | — | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1286 | +0.093% | $1.0M | $290K | 75x | as long as short |
| Kraken Futures PF_OPUSDshort | +0.0224% | 1h | 0.1287 | +0.152% | $804K | $745K | 20x | |
| Reya OPRUSDPERP | +0.0437% | 1h | 0.1286 | +0.081% | $715 | — | 20x | as long as short |
Aster OPUSDT
Binance OPUSDT
Bybit OPUSDT
OKX OP-USDT-SWAP
Gate OP_USDT
MEXC OP_USDT
KuCoin OPUSDTM
Bitget OPUSDT
BingX OP-USDC
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
ApeX Omni OPUSDT
SoDEX OP-USD
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP