Funding you earn now, next payment 20:00 UTC+0.1837%/8hpaid last 24h +0.086%
Price spread now: Kraken Futures against Binance−0.127%7-day average +0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$163as in the Price arb table
costs, in and out, $10k−$1441.436% of the position
Funding, last 7 days+0.681%+$68 on $10k
+Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.127%, 7d avg +0.064%
=Funding pays, the price is against you. Kraken Futures is 0.190% cheaper against Binance than usual: you would sell low and buy high (spread −0.127% now, against its 7-day average of +0.064%). If the spread goes back, that is −$19 on $10k: about 8 hours of funding at the current rate (+$55 a day). At the pace of the last 7 days (+0.681% in total) that is about 47 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.681% in total (about 35.5% a year). A funding rate is set anew for every payment. 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 | Binance SPXUSDT | 0.5108 | 0.0100 | pay 0.0050% / 4h | 5m 05s | $5.2M | $19.0M | 75x |
| Short | Kraken Futures PF_SPXUSD | 0.5102 | 0.1937 | get 0.0242% / 1h | 5m 05s | $236K | $550K | 20x |
Binance SPXUSDT
Kraken Futures PF_SPXUSDFunding 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
- $385.77
- Price spread: −0.127% → +0.064%
- −$19.05
- Slippage, 4 orders
- −$123.63
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $223.09
- Costs to cover
- 1.436%
- Break-even
- 3.0 days
Slippage from Binance: live order book, 10 min ago; Kraken Futures: live order book, 27 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, 10 min ago | 0.98 bp | 20.1 bp −$20 | 67.2 bp −$672 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 27 min ago | 25.45 bp | 48.4 bp −$48 | 135.1 bp −$1,351 | doesn't fit | doesn't fit |
SPX on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SPX | −0.0061% | 4h | 0.5104 | −0.069% | $899K | $1.2M | — | as long as short |
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −2.525% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5108 | +0.004% | $126K | $311K | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5120 | +0.239% | $125K | $92K | 10x | as long as short |
| Binance SPXUSDTlong | +0.0100% | 4h | 0.5108 | long leg | $5.2M | $19.0M | 75x | |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5099 | −0.176% | $11.8M | $15.2M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5100 | −0.157% | $1.0M | $2.6M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5104 | −0.078% | $1.1M | $474K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5104 | −0.078% | $12.4M | $4.6M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5105 | −0.059% | $3.9M | $5.1M | 50x | as long as short |
Variational Omni SPX
Injective SPX/USDC PERP
Lighter SPX
Aster SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
KuCoin SPXUSDTMShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPXUSDT | +0.0100% | 4h | 0.5107 | −0.020% | $2.6M | $1.3M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5105 | −0.059% | — | $6.8M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5115 | +0.137% | $46K | $247K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5096 | −0.235% | $8K | $1.6M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5107 | −0.026% | $35K | $231K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0109% | 4h | 0.5113 | +0.098% | $20K | $200 | 10x | as long as short |
| Hyperliquid SPX | +0.0253% | 1h | 0.5118 | +0.202% | $10.4M | $6.7M | 5x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5103 | −0.098% | $194K | $960K | 75x | as long as short |
| Kraken Futures PF_SPXUSDshort | +0.1937% | 1h | 0.5102 | −0.127% | $236K | $550K | 20x |
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Orderly PERP_SPX_USDC
Hyperliquid SPX
BloFin SPX-USDT