Funding you earn now, next payment 04:00 UTC+0.0724%/8h= +79.3% APRpaid last 24h +0.221%
Price spread now: Gate against Kraken Futures+0.166%7-day average +0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$426as in the Funding arb table
Net, price: spread back to 7d avg − costs−$381as in the Price arb table
costs, in and out, $10k−$3903.904% of the position
Funding, last 7 days−0.360%−$36 on $10k
+Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.166%, 7d avg +0.075%
=Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Gate is 0.091% dearer against Kraken Futures than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.075%. Mind the row above: over the last 7 days funding on this pair cost −0.360%, so the current rate has only just turned in your favour.
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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_USUALUSD | 0.01424 | −0.0624 | get 0.0078% / 1h | 20m 03s | $114K | $20K | 10x |
| Short | Gate USUAL_USDT | 0.01426 | 0.0100 | get 0.0100% / 8h | 4h 20m | $963K | $112K | 50x |
Kraken Futures PF_USUALUSD
Gate USUAL_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- $152.05
- Price spread: +0.166% → +0.075%
- $9.06
- Slippage, 4 orders
- −$365.36
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$229.25
- Costs to cover
- 3.904%
- Break-even
- 17.6 days
Slippage from Kraken Futures: live order book, 37 min ago; Gate: live order book, 37 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, 37 min ago | 42.53 bp | 47.5 bp −$48 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 37 min ago | 7.14 bp | 123.6 bp −$124 | 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 | −0.4543% | 1h | 0.01401 | −1.590% | $6K | $3K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDlong | −0.0624% | 1h | 0.01424 | long leg | $114K | $20K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01424 | +0.025% | $410K | $186K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01423 | −0.038% | $2.3M | $3.4M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01425 | +0.102% | $1.1M | $818K | 25x | as long as short |
| Gate USUAL_USDTshort | +0.0100% | 8h | 0.01426 | +0.166% | $963K | $112K | 50x | |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01423 | −0.045% | $6.2M | $238K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01425 | +0.095% | $266K | $62K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01425 | +0.095% | $848K | $400K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01424 | +0.004% | — | $1.2M | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
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 | 0.01428 | +0.323% | $11K | $1K | — | as long as short |
Variational Omni USUAL