Funding you earn now, next payment 03:00 UTC−0.0848%/8h= −92.9% APRpaid last 24h −0.219%
Price spread now: Kraken Futures against MEXC+0.117%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$73as in the Funding arb table
Net, price: spread back to 7d avg − costs−$100as in the Price arb table
costs, in and out, $10k−$1101.096% of the position
Funding, last 7 days+0.361%+$36 on $10k
+Price spread, last 4 days (all we have)−0.584%−$58 · spread now +0.117%, 7d avg +0.020%
=The price spread pays, funding is against you. Kraken Futures is 0.098% dearer against MEXC than usual: you sell high and buy low (spread +0.117% now, against its 7-day average of +0.020%): +$10 on $10k if it goes back. Holding the pair costs −$25 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 +0.361%, 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 0.361% 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 | MEXC USUAL_USDT | 0.01386 | 0.0100 | pay 0.0050% / 4h | 1h 27m | $6.0M | $229K | 100x |
| Short | Kraken Futures PF_USUALUSD | 0.01388 | −0.0748 | pay 0.0093% / 1h | 27m 59s | $113K | $18K | 10x |
MEXC USUAL_USDT
Kraken Futures PF_USUALUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against MEXC. 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
- −$178.08
- Price spread: +0.117% → +0.020%
- $9.76
- Slippage, 4 orders
- −$95.61
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$277.93
- Costs to cover
- 1.096%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 5 min ago; Kraken Futures: live order book, 34 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 MEXC live order book, 5 min ago | 3.96 bp | 11.2 bp −$11 | 131.1 bp −$1,311 | 736.0 bp −$73.6K | doesn't fit |
| Sell Kraken Futures live order book, 34 min ago | 36.87 bp | 46.4 bp −$46 | 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 | −0.4981% | 1h | 0.01365 | −1.515% | $6K | $2K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDshort | −0.0748% | 1h | 0.01388 | +0.117% | $113K | $18K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01388 | +0.144% | $397K | $179K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01387 | +0.065% | $2.2M | $3.2M | 50x | as long as short |
| Bybit USUALUSDT | +0.0100% | 4h | 0.01388 | +0.159% | $1.1M | $739K | 25x | as long as short |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01388 | +0.144% | $938K | $102K | 50x | as long as short |
| MEXC USUAL_USDTlong | +0.0100% | 4h | 0.01386 | long leg | $6.0M | $229K | 100x | |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01387 | +0.072% | $273K | $56K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01387 | +0.072% | $829K | $368K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01389 | +0.195% | — | $1.2M | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Bybit USUALUSDT
Gate 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 | 0.01388 | +0.163% | $10K | $208 | — | as long as short |
Variational Omni USUAL