Funding you earn now, next payment 07:00 UTC−0.5140%/8h= −562.8% APRnext payment −$6.42 per $10,000 · paid last 24h −1.185%
Price spread now: Injective against Kraken Futures−0.451%63s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$154 a day on $10k at the current rate, and Injective is 0.451% cheaper against Kraken Futures than usual: you would sell low and buy high (−$45 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_USUALUSD | 0.01390 | 0.0140 | pay 0.0017% / 1h | 49m 22s | $110K | $19K | 10x |
| Short | Injective USUAL/USDC PERP | 0.01384 | −0.5000 | pay 0.0625% / 1h | 49m 22s | $6K | $3K | 5.5x |
Kraken Futures PF_USUALUSD
Injective USUAL/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$1,079.36
- Price spread: −0.451% → 0.000%
- −$45.11
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$1,134.5
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 58 min ago; Injective: no order-book sample. Net counts fees only.
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, 58 min ago | 38.80 bp | 43.8 bp −$44 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 PERPshort | −0.5000% | 1h | 0.01384 | −0.451% | $6K | $3K | 5.5x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01388 | −0.163% | $395K | $187K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01386 | −0.291% | $2.2M | $3.2M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01388 | −0.149% | $1.0M | $785K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01390 | −0.020% | $940K | $107K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01387 | −0.235% | $6.1M | $261K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01389 | −0.092% | $266K | $65K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01388 | −0.163% | $803K | $405K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01388 | −0.163% | — | $1.2M | — | as long as short |
| Variational Omni USUAL | +0.0100% | 4h | 0.01392 | +0.137% | $10K | $1K | — | as long as short |
Hyperliquid USUAL
Binance USUALUSDT
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_USUALUSDlong | +0.0140% | 1h | 0.01390 | long leg | $110K | $19K | 10x |