Funding you earn now, next payment 03:00 UTC−0.0849%/8h= −93.0% APRpaid last 24h −0.219%
Price spread now: Kraken Futures against BingX+0.063%7-day average −0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$112as in the Funding arb table
Net, price: spread back to 7d avg − costs−$125as in the Price arb table
costs, in and out, $10k−$1361.363% of the position
Funding, last 7 days+0.241%+$24 on $10k
+Price spread, last 3 days (all we have)−0.186%−$19 · spread now +0.063%, 7d avg −0.049%
=The price spread pays, funding is against you. Kraken Futures is 0.112% dearer against BingX than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of −0.049%): +$11 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 11 hours. Mind the row above: over the last 7 days funding on this pair paid +0.241%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.241% in total (about 12.6% 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 | BingX USUAL-USDT | 0.01384 | 0.0100 | pay 0.0050% / 4h | 1h 55m | — | $1.2M | — |
| Short | Kraken Futures PF_USUALUSD | 0.01385 | −0.0749 | pay 0.0094% / 1h | 55m 47s | $113K | $18K | 10x |
BingX USUAL-USDT
Kraken Futures PF_USUALUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BingX. 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
- −$178.35
- Price spread: +0.063% → −0.049%
- $11.18
- Slippage, 4 orders
- −$116.3
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$303.47
- Costs to cover
- 1.363%
- Break-even
- never at this rate
Slippage from BingX: live order book, 4 min ago; Kraken Futures: live order book, 6 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 BingX live order book, 4 min ago | 5.79 bp | 24.6 bp −$25 | 126.4 bp −$1,264 | 485.9 bp −$48.6K | 728.6 bp −$364.3K |
| Sell Kraken Futures live order book, 6 min ago | 36.87 bp | 46.4 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 | −0.4981% | 1h | 0.01366 | −1.329% | $6K | $1K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDshort | −0.0749% | 1h | 0.01385 | +0.063% | $113K | $18K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01385 | +0.043% | $396K | $180K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01383 | −0.127% | $2.2M | $3.2M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01383 | −0.116% | $1.0M | $743K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01386 | +0.116% | $937K | $102K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01385 | +0.051% | $6.0M | $226K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01386 | +0.116% | $272K | $56K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01387 | +0.188% | $829K | $375K | 50x | as long as short |
| BingX USUAL-USDTlong | +0.0100% | 4h | 0.01384 | long leg | — | $1.2M | — |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01386 | +0.128% | $10K | $208 | — | as long as short |
Variational Omni USUAL