Funding you earn now, next payment 05:00 UTC−0.1110%/8h= −121.5% APRpaid last 24h −0.229%
Price spread now: KuCoin against Kraken Futures−0.388%7-day average −0.116% · you buy dearer than you sell
Net, funding: paid 7d − costs−$345as in the Funding arb table
Net, price: spread back to 7d avg − costs−$307as in the Price arb table
costs, in and out, $10k−$2792.795% of the position
Funding, last 7 days−0.653%−$65 on $10k
+Price spread, last 4 days (all we have)+0.452%+$45 · spread now −0.388%, 7d avg −0.116%
=Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and KuCoin is 0.272% cheaper against Kraken Futures than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.116%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.653% in total (about -34.0% 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 | Kraken Futures PF_SPXUSD | 0.5201 | 0.1210 | pay 0.0151% / 1h | 15m 36s | $254K | $548K | 20x |
| Short | KuCoin SPXUSDTM | 0.5181 | 0.0100 | get 0.0050% / 4h | 3h 15m | $3.7M | $5.3M | 50x |
Kraken Futures PF_SPXUSD
KuCoin SPXUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$233.03
- Price spread: −0.388% → −0.116%
- −$27.25
- Slippage, 4 orders
- −$257.49
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$539.77
- Costs to cover
- 2.795%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 37 min ago; KuCoin: live order book, 2 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, 37 min ago | 42.88 bp | 50.3 bp −$50 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 2 min ago | 4.83 bp | 80.7 bp −$81 | 317.0 bp −$3,170 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −4.272% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5183 | −0.340% | $151K | $370K | 5x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5181 | −0.388% | $5.2M | $22.3M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5176 | −0.485% | $11.8M | $17.0M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5180 | −0.408% | $940K | $3.1M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5182 | −0.369% | $1.0M | $591K | 50x | as long as short |
| MEXC SPX_USDT | +0.0100% | 4h | 0.5177 | −0.465% | $12.0M | $5.1M | 100x | as long as short |
| KuCoin SPXUSDTMshort | +0.0100% | 4h | 0.5181 | −0.388% | $3.7M | $5.3M | 50x | |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5182 | −0.369% | $2.7M | $1.5M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5179 | −0.427% | — | $6.9M | — | as long as short |
Injective SPX/USDC PERP
Lighter SPX
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
MEXC SPX_USDT
Bitget SPXUSDT
BingX SPX-USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SPX | +0.0100% | 4h | 0.5180 | −0.415% | $965K | $1.5M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5157 | −0.850% | $26K | $254K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5180 | −0.408% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5176 | −0.484% | $34K | $252K | 10x | as long as short |
| Hyperliquid SPX | +0.0187% | 1h | 0.5179 | −0.425% | $10.6M | $7.8M | 5x | as long as short |
| Aster SPXUSDT | +0.0195% | 4h | 0.5189 | −0.242% | $138K | $130K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0224% | 4h | 0.5197 | −0.081% | $21K | $599 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5185 | −0.311% | $255K | $1.0M | 75x | as long as short |
| Kraken Futures PF_SPXUSDlong | +0.1210% | 1h | 0.5201 | long leg | $254K | $548K | 20x |
Variational Omni SPX
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Hyperliquid SPX
Aster SPXUSDT
Orderly PERP_SPX_USDC
BloFin SPX-USDT