Funding you earn now, next payment 23:00 UTC−0.0808%/8h= −88.5% APRpaid last 24h −0.192%
Price spread now: Kraken Futures against Bitget−0.198%7-day average −0.103% · you buy dearer than you sell
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs−$136as in the Price arb table
costs, in and out, $10k−$1271.268% of the position
Funding, last 7 days+0.359%+$36 on $10k
+Price spread, last 3 days (all we have)−0.001%$0 · spread now −0.198%, 7d avg −0.103%
=Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Kraken Futures is 0.095% cheaper against Bitget than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.103%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.359%, 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 0.359% in total (about 18.7% 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 | Bitget USUALUSDT | 0.01356 | 0.0100 | pay 0.0050% / 4h | 1h 16m | $820K | $474K | 50x |
| Short | Kraken Futures PF_USUALUSD | 0.01353 | −0.0708 | pay 0.0088% / 1h | 16m 52s | $110K | $23K | 10x |
Bitget USUALUSDT
Kraken Futures PF_USUALUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bitget. 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
- −$169.64
- Price spread: −0.198% → −0.103%
- −$9.46
- Slippage, 4 orders
- −$104.83
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$305.92
- Costs to cover
- 1.268%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 64 min ago; Kraken Futures: live order book, just now.
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 Bitget live order book, 64 min ago | 7.36 bp | 28.1 bp −$28 | 132.6 bp −$1,326 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, just now | 26.96 bp | 39.5 bp −$39 | 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 | −0.4025% | 1h | 0.01335 | −1.549% | $6K | $2K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDshort | −0.0708% | 1h | 0.01353 | −0.198% | $110K | $23K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01355 | −0.074% | $387K | $226K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01353 | −0.214% | $2.1M | $3.4M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01355 | −0.088% | $1.0M | $867K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01354 | −0.147% | $903K | $213K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01353 | −0.206% | $5.9M | $260K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01356 | 0.000% | $280K | $61K | 20x | as long as short |
| Bitget USUALUSDTlong | +0.0100% | 4h | 0.01356 | long leg | $820K | $474K | 50x | |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01354 | −0.147% | — | $1.2M | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
BingX USUAL-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01356 | −0.027% | $9K | $208 | — | as long as short |
Variational Omni USUAL