Settings8H · net · $10k
Funding arb · Price arb /

USUAL

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Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC−0.0724%/8h= −79.3% APRpaid last 24h −0.221%
Price spread now: Kraken Futures against Gate−0.165%7-day average −0.075% · you buy dearer than you sell
Net, funding: paid 7d − costs−$354as in the Funding arb table
Net, price: spread back to 7d avg − costs−$399as in the Price arb table
costs, in and out, $10k−$3903.904% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.360%+$36 on $10k
Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.165%, 7d avg −0.075%
Together, before fees+0.289%+$29 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and Kraken Futures is 0.090% cheaper against Gate than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.075%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.360%, 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 0.360% in total (about 18.8% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate USUAL_USDT0.014260.0100pay 0.0100% / 8h4h 19m$963K$112K50x
ShortKraken Futures PF_USUALUSD0.01424−0.0624pay 0.0078% / 1h19m 37s$114K$20K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$152.05
Price spread: −0.165% → −0.075%
−$9.03
Slippage, 4 orders
−$365.36
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$551.44
Costs to cover
3.904%
Break-even
never at this rate
Slippage from Gate: live order book, 37 min ago; Kraken Futures: live order book, 37 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 37 min ago7.14 bp166.2 bp −$166doesn't fitdoesn't fitdoesn't fit
Sell Kraken Futures live order book, 37 min ago42.53 bp53.0 bp −$53doesn't fitdoesn't fitdoesn't fit

USUAL on 11 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective USUAL/USDC PERP−0.4543%1h0.01401−1.753%$6K$3K5.5xas long as short
Kraken Futures PF_USUALUSDshort−0.0624%1h0.01424−0.165%$114K$20K10x
Hyperliquid USUAL+0.0100%1h0.01425−0.070%$410K$186K3xas long as short
Binance USUALUSDT+0.0100%4h0.01424−0.172%$2.3M$3.4M50xas long as short
Bybit USUALUSDT+0.0100%4h0.01425−0.063%$1.1M$818K25xas long as short
Gate USUAL_USDTlong+0.0100%8h0.01426long leg$963K$112K50x
MEXC USUAL_USDT+0.0100%4h0.01425−0.098%$6.2M$238K100xas long as short
KuCoin USUALUSDTM+0.0100%4h0.01424−0.140%$265K$62K20xas long as short
Bitget USUALUSDT+0.0100%4h0.01427+0.070%$849K$400K50xas long as short
BingX USUAL-USDT+0.0100%4h0.01426+0.028%$1.2Mas long as short
Show all 11 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni USUAL+0.0100%4h0.01428+0.157%$11K$1Kas long as short