Funding you earn now, next payment 07:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h +0.058%
Price spread now: Kraken Futures against KuCoin+0.128%7-day average +0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$133as in the Funding arb table
Net, price: spread back to 7d avg − costs−$132as in the Price arb table
costs, in and out, $10k−$1361.356% of the position
Funding, last 7 days+0.025%+$3 on $10k
+Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.128%, 7d avg +0.093%
=The price spread pays, funding is against you. Kraken Futures is 0.036% dearer against KuCoin than usual: you sell high and buy low (spread +0.128% now, against its 7-day average of +0.093%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 24 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin OPUSDTM | 0.1250 | 0.0083 | pay 0.0083% / 8h | 1h 51m | $2.8M | $6.3M | 75x |
| Short | Kraken Futures PF_OPUSD | 0.1252 | −0.0034 | pay 0.0004% / 1h | 51m 57s | $749K | $652K | 20x |
KuCoin OPUSDTM
Kraken Futures PF_OPUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against KuCoin. 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
- −$24.57
- Price spread: +0.128% → +0.093%
- $3.57
- Slippage, 4 orders
- −$113.57
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$156.57
- Costs to cover
- 1.356%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 6 min ago; Kraken Futures: live order book, 56 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 KuCoin live order book, 6 min ago | 3.99 bp | 36.4 bp −$36 | 96.8 bp −$968 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 56 min ago | 15.31 bp | 28.2 bp −$28 | 68.7 bp −$687 | 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 | −0.1760% | 1h | 0.1246 | −0.320% | $34K | $59K | 12x | as long as short |
| GMX OP/USD [OP-USDC] | L −0.1065% / S +0.0229% | 1h | 0.1252 | +0.173% | $13K | — | 100x | as long as short |
| Deribit OP_USDC-PERPETUAL | −0.0549% | 1h | 0.1251 | +0.080% | $33K | $153K | 25x | as long as short |
| Hyperliquid OP | −0.0161% | 1h | 0.1250 | −0.024% | $3.6M | $3.4M | 5x | as long as short |
| Kraken Futures PF_OPUSDshort | −0.0034% | 1h | 0.1252 | +0.128% | $749K | $652K | 20x | |
| Orderly PERP_OP_USDC | −0.0028% | 8h | 0.1251 | +0.080% | $59K | $142K | 10x | as long as short |
| Variational Omni OP | −0.0006% | 8h | 0.1252 | +0.186% | $222K | $46K | — | as long as short |
| dYdX OP-USD | 0.0000% | 1h | 0.1253 | +0.223% | $39K | $522 | 10x | as long as short |
| gTrade (Gains Network) OP/USD | L +0.0004% / S −0.0004% | 1h | 0.1252 | +0.160% | — | — | 150x | as long as short |
| SoDEX OP-USD | +0.0012% | 1h | 0.1251 | +0.072% | $208 | $6K | 5x | as long as short |
Injective OP/USDC PERP
GMX OP/USD [OP-USDC]
Deribit OP_USDC-PERPETUAL
Hyperliquid OP
Orderly PERP_OP_USDC
Variational Omni OP
dYdX OP-USD
gTrade (Gains Network) OP/USD
SoDEX OP-USDShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International OP-PERP-INTX | +0.0032% | 1h | 0.1257 | +0.560% | $24K | $64K | 50x | as long as short |
| Bybit OPUSDT | +0.0055% | 8h | 0.1249 | −0.096% | $18.3M | $25.9M | 75x | as long as short |
| OKX OP-USDT-SWAP | +0.0082% | 8h | 0.1250 | −0.016% | $6.1M | $29.2M | 50x | as long as short |
| KuCoin OPUSDTMlong | +0.0083% | 8h | 0.1250 | long leg | $2.8M | $6.3M | 75x | |
| Lighter OP | +0.0096% | 1h | 0.1252 | +0.128% | $275K | $1.1M | 15x | as long as short |
| Aster OPUSDT | +0.0100% | 8h | 0.1251 | +0.102% | $207K | $218K | 10x | as long as short |
| Binance OPUSDT | +0.0100% | 8h | 0.1250 | −0.030% | $19.8M | $66.0M | 75x | as long as short |
| Gate OP_USDT | +0.0100% | 8h | 0.1251 | +0.064% | $2.0M | $1.5M | 50x | as long as short |
| MEXC OP_USDT | +0.0100% | 8h | 0.1250 | −0.032% | $23.0M | $7.6M | 300x | as long as short |
| Bitget OPUSDT | +0.0100% | 8h | 0.1249 | −0.080% | $5.7M | $6.8M | 75x | as long as short |
| BingX OP-USDT | +0.0100% | 8h | 0.1250 | −0.040% | — | $6.6M | — | as long as short |
| Backpack OP_USDC_PERP | +0.0100% | 1h | 0.1250 | −0.024% | $106K | $215K | 10x | as long as short |
| edgeX OPUSDC | +0.0100% | 4h | 0.1251 | +0.067% | $379K | $767K | 10x | as long as short |
| GRVT OP_USDT_Perp | +0.0100% | 8h | 0.1251 | +0.112% | $309K | $5.4M | 10x | as long as short |
| HTX OP-USDT | +0.0100% | 8h | 0.1252 | +0.160% | $169K | $253K | 50x | as long as short |
| Extended OP-USD | +0.0104% | 1h | 0.1249 | −0.053% | $100K | $506K | 25x | as long as short |
| Aevo OP-PERP | +0.0104% | 1h | 0.1251 | +0.080% | $3K | $1K | 3x | as long as short |
| BloFin OP-USDT | +0.0220% | 8h | 0.1253 | +0.248% | $988K | $304K | 75x | as long as short |
| Reya OPRUSDPERP | +0.0443% | 1h | 0.1251 | +0.055% | $695 | — | 20x | as long as short |
| ApeX Omni OPUSDT | +0.1062% | 1h | 0.1255 | +0.400% | $43K | $703K | 50x | as long as short |
Coinbase International OP-PERP-INTX
Bybit OPUSDT
OKX OP-USDT-SWAP
Lighter OP
Aster OPUSDT
Binance OPUSDT
Gate OP_USDT
MEXC OP_USDT
Bitget OPUSDT
BingX OP-USDT
Backpack OP_USDC_PERP
edgeX OPUSDC
GRVT OP_USDT_Perp
HTX OP-USDT
Extended OP-USD
Aevo OP-PERP
BloFin OP-USDT
Reya OPRUSDPERP
ApeX Omni OPUSDT