Funding you earn now, next payment 08:00 UTC−0.1390%/8h= −152.2% APRpaid last 24h −0.269%
Price spread now: Phemex against Kraken Futures+0.261%7-day average −0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$199as in the Price arb table
costs, in and out, $10k−$2312.310% of the position
Funding, last 5 days (all we have)+0.024%+$2 on $10k
+Price spread, last 4 days (all we have)−0.300%−$30 · spread now +0.261%, 7d avg −0.056%
=The price spread pays, funding is against you. Phemex is 0.317% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.261% now, against its 7-day average of −0.056%): +$32 on $10k if it goes back. Holding the pair costs −$42 a day in funding at the current rate, which eats that in about 18 hours.
The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.024% in total (about 1.6% 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_SYNUSD | 0.2417 | 0.1490 | pay 0.0186% / 1h | 8m 19s | $151K | $840K | 10x |
| Short | Phemex SYNUSDT | 0.2423 | 0.0100 | get 0.0050% / 4h | 8m 19s | $1.6M | $1.9M | 50x |
Kraken Futures PF_SYNUSD
Phemex SYNUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$291.89
- Price spread: +0.261% → −0.056%
- $31.71
- Slippage, 4 orders
- −$209
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$491.19
- Costs to cover
- 2.310%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 30 min ago; Phemex: live order book, 5 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, 30 min ago | 64.57 bp | 71.1 bp −$71 | 274.0 bp −$2,740 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 3.51 bp | 42.1 bp −$42 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget SYNUSDT | +0.0100% | 4h | 0.2418 | +0.042% | $1.4M | $3.2M | 10x | as long as short |
| Orderly PERP_SYN_USDC_mythos | +0.0100% | 4h | 0.2420 | +0.121% | $3K | $35K | 10x | as long as short |
| Phemex SYNUSDTshort | +0.0100% | 4h | 0.2423 | +0.261% | $1.6M | $1.9M | 50x | |
| Binance SYNUSDT | +0.0220% | 4h | 0.2421 | +0.156% | $12.1M | $43.2M | 10x | as long as short |
| MEXC SYN_USDT | +0.0222% | 4h | 0.2420 | +0.125% | $3.0M | $8.1M | 50x | as long as short |
| BingX SYN-USDT | +0.0224% | 4h | 0.2419 | +0.088% | — | $3.3M | — | as long as short |
| Aster SYNUSDT | +0.1242% | 4h | 0.2422 | +0.208% | $2.8M | $992K | 5x | as long as short |
| Kraken Futures PF_SYNUSDlong | +0.1490% | 1h | 0.2417 | long leg | $151K | $840K | 10x |
Bitget SYNUSDT
Orderly PERP_SYN_USDC_mythos
Binance SYNUSDT
MEXC SYN_USDT
BingX SYN-USDT
Aster SYNUSDT