Funding you earn now, next payment 05:00 UTC+0.0176%/8h= +19.3% APRpaid last 24h −0.222%
Price spread now: Kraken Futures against Binance+0.118%7-day average +0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs−$103as in the Funding arb table
Net, price: spread back to 7d avg − costs−$130as in the Price arb table
costs, in and out, $10k−$1401.396% of the position
Funding, last 7 days+0.362%+$36 on $10k
+Price spread, last 4 days (all we have)−0.236%−$24 · spread now +0.118%, 7d avg +0.019%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.099% dearer against Binance than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.019%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance USUALUSDT | 0.01393 | 0.0100 | pay 0.0050% / 4h | 3h 20m | $2.3M | $3.3M | 50x |
| Short | Kraken Futures PF_USUALUSD | 0.01395 | 0.0276 | get 0.0035% / 1h | 20m 53s | $110K | $21K | 10x |
Binance USUALUSDT
Kraken Futures PF_USUALUSDFunding 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
- $36.98
- Price spread: +0.118% → +0.019%
- $9.89
- Slippage, 4 orders
- −$119.61
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$92.75
- Costs to cover
- 1.396%
- Break-even
- 24.6 days
Slippage from Binance: live order book, 15 min ago; Kraken Futures: live order book, 31 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, 15 min ago | 2.86 bp | 20.8 bp −$21 | 144.5 bp −$1,445 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 31 min ago | 40.52 bp | 45.5 bp −$46 | doesn't fit | doesn't fit | doesn't fit |
USUAL on 11 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 USUAL/USDC PERP | −0.5000% | 1h | 0.01388 | −0.373% | $6K | $3K | 5.5x | as long as short |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01394 | +0.057% | $403K | $189K | 3x | as long as short |
| Binance USUALUSDTlong | +0.0100% | 4h | 0.01393 | long leg | $2.3M | $3.3M | 50x | |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01395 | +0.151% | $1.1M | $792K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01395 | +0.129% | $943K | $111K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01393 | −0.043% | $6.1M | $256K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01394 | +0.057% | $257K | $62K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01395 | +0.129% | $812K | $399K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01394 | +0.036% | — | $1.2M | — | as long as short |
| Variational Omni USUAL | +0.0100% | 4h | 0.01396 | +0.191% | $11K | $1K | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
BingX USUAL-USDT
Variational Omni USUALShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_USUALUSDshort | +0.0276% | 1h | 0.01395 | +0.118% | $110K | $21K | 10x |