Funding you earn now, next payment 09:00 UTC−0.0647%/8h= −70.9% APRpaid last 24h +0.266%
Price spread now: Kraken Futures against Binance−0.124%7-day average −0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$168as in the Funding arb table
Net, price: spread back to 7d avg − costs−$136as in the Price arb table
costs, in and out, $10k−$1241.240% of the position
Funding, last 7 days−0.439%−$44 on $10k
+Price spread, last 4 days (all we have)−0.169%−$17 · spread now −0.124%, 7d avg −0.007%
=Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Kraken Futures is 0.117% cheaper against Binance than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.007%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.439% in total (about -22.9% 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 SYNUSDT | 0.2535 | 0.0274 | pay 0.0137% / 4h | 2h 59m | $12.7M | $43.5M | 10x |
| Short | Kraken Futures PF_SYNUSD | 0.2532 | −0.0374 | pay 0.0047% / 1h | 59m 58s | $158K | $866K | 10x |
Binance SYNUSDT
Kraken Futures PF_SYNUSDFunding 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
- −$135.95
- Price spread: −0.124% → −0.007%
- −$11.66
- Slippage, 4 orders
- −$104
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$271.61
- Costs to cover
- 1.240%
- Break-even
- never at this rate
Slippage from Binance: live order book, 12 min ago; Kraken Futures: live order book, 33 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, 12 min ago | 2.21 bp | 24.3 bp −$24 | 214.0 bp −$2,140 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 33 min ago | 16.96 bp | 51.7 bp −$52 | doesn't fit | doesn't fit | doesn't fit |
SYN on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SYNUSDshort | −0.0374% | 1h | 0.2532 | −0.124% | $158K | $866K | 10x | |
| Bitget SYNUSDT | +0.0100% | 4h | 0.2535 | +0.001% | $1.4M | $3.2M | 10x | as long as short |
| Orderly PERP_SYN_USDC_mythos | +0.0100% | 4h | 0.2535 | −0.007% | $2K | $36K | 10x | as long as short |
| Phemex SYNUSDT | +0.0100% | 4h | 0.2531 | −0.164% | $1.6M | $1.9M | 50x | as long as short |
| BingX SYN-USDT | +0.0266% | 4h | 0.2534 | −0.042% | — | $3.3M | — | as long as short |
| Binance SYNUSDTlong | +0.0274% | 4h | 0.2535 | long leg | $12.7M | $43.5M | 10x | |
| MEXC SYN_USDT | +0.0274% | 4h | 0.2533 | −0.093% | $3.1M | $8.2M | 50x | as long as short |
| Aster SYNUSDT | +0.1197% | 4h | 0.2534 | −0.050% | $2.9M | $1.0M | 5x | as long as short |
Bitget SYNUSDT
Orderly PERP_SYN_USDC_mythos
Phemex SYNUSDT
BingX SYN-USDT
MEXC SYN_USDT
Aster SYNUSDT