Funding you earn now, next payment 02:00 UTC−0.0754%/8h= −82.6% APRpaid last 24h −0.214%
Price spread now: Kraken Futures against KuCoin+0.017%52s7-day average −0.071% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1,606as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1,64116.413% of the position
Funding, last 7 days+0.356%+$36 on $10k
+Price spread, last 3 days (all we have)−0.242%−$24 · spread now +0.017%, 7d avg −0.071%
=The price spread pays, funding is against you. Kraken Futures is 0.088% dearer against KuCoin than usual: you sell high and buy low (spread +0.017% now, against its 7-day average of −0.071%): +$9 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 9 hours. Mind the row above: over the last 7 days funding on this pair paid +0.356%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.356% in total (about 18.6% 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 | KuCoin USUALUSDTM | 0.01363 | 0.0100 | pay 0.0050% / 4h | 2h 58m | $269K | $62K | 20x |
| Short | Kraken Futures PF_USUALUSD | 0.01363 | −0.0654 | pay 0.0082% / 1h | 58m 27s | $111K | $18K | 10x |
KuCoin USUALUSDTM
Kraken Futures PF_USUALUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against KuCoin. 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
- −$158.42
- Price spread: +0.017% → −0.071%
- $8.83
- Slippage, 4 orders
- −$1,619.31
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$1,790.9
- Costs to cover
- 16.413%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 52 min ago; Kraken Futures: live order book, 9 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 KuCoin live order book, 52 min ago | 21.71 bp | 962.5 bp −$963 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 9 min ago | 33.50 bp | 41.3 bp −$41 | 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 | −0.4129% | 1h | 0.01358 | −0.367% | $6K | $1K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDshort | −0.0654% | 1h | 0.01363 | +0.017% | $111K | $18K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01364 | +0.073% | $392K | $184K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01362 | −0.081% | $2.1M | $3.3M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01363 | 0.000% | $1.0M | $788K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01364 | +0.073% | $922K | $178K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01363 | 0.000% | $6.0M | $237K | 100x | as long as short |
| KuCoin USUALUSDTMlong | +0.0100% | 4h | 0.01363 | long leg | $269K | $62K | 20x | |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01364 | +0.073% | $819K | $419K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01363 | −0.015% | — | $1.2M | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
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 | 0.01365 | +0.133% | $9K | $208 | — | as long as short |
Variational Omni USUAL