Spread before costs (cost unknown: a leg has no order-book sample)+0.022%
7d average—if it closes, per $10,000$2funding while held, a day+$14.72
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack W_USDC_PERP | 0.01173 | 0.0410 | pay 0.0051% / 1h | 40m 19s | $39K | $49K | 15x |
| Short | Kraken Futures PF_WUSD | 0.01173 | 0.0901 | get 0.0113% / 1h | 40m 19s | $146K | $193K | 20x |
Backpack W_USDC_PERP
Kraken Futures PF_WUSDPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $2.24
- Funding while held
- $14.72
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$3.03
- Spread needed to break even
- 0.200%
Slippage unknown: Backpack: no order-book sample; Kraken Futures: live order book, 59 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0491%
- Per $10,000 a day
- +$14.72
- Average in range /8h
- —
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 Backpack no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 59 min ago | 10.66 bp | 59.1 bp −$59 | doesn't fit | doesn't fit | doesn't fit |
Backpack: 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.
W price on every exchange
against the cheapest. Click to use as the short leg.Bybit0.01169cheapestGate0.01169cheapestOKX0.01170+0.051%Bitget0.01170+0.051%Extended0.01170+0.067%Binance0.01170+0.077%MEXC0.01171+0.094%Hyperliquid0.01171+0.137%KuCoin0.01171+0.137%Deribit0.01172+0.188%Variational Omni0.01172+0.193%BingX0.01172+0.248%
Bybit
Gate
OKX
Bitget
Extended
Binance
MEXC
Hyperliquid
KuCoin
Deribit
Variational Omni
BingXBackpack0.01173+0.308%
Kraken Futures0.01173+0.330%
Coinbase International0.01177+0.650%Injective0.01209+3.386%
Coinbase International
InjectiveW on 16 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bybit WUSDT | −0.307% | +0.0100% | 4h | $4.1M | $2.3M | 50x | as long as short |
| Gate W_USDT | −0.307% | +0.0100% | 4h | $443K | $323K | 75x | as long as short |
| OKX W-USDT-SWAP | −0.256% | +0.0100% | 4h | $1.3M | $2.3M | 20x | as long as short |
| Bitget WUSDT | −0.256% | +0.0100% | 4h | $1.2M | $583K | 50x | as long as short |
| Extended W-USD | −0.240% | +0.0104% | 1h | $59K | $276K | 5x | as long as short |
| Binance WUSDT | −0.230% | +0.0100% | 4h | $2.9M | $8.4M | 50x | as long as short |
| MEXC W_USDT | −0.213% | +0.0100% | 4h | $11.5M | $1.3M | 50x | as long as short |
| Hyperliquid W | −0.171% | +0.0100% | 1h | $2.0M | $611K | 5x | as long as short |
| KuCoin WUSDTM | −0.171% | +0.0100% | 4h | $409K | $247K | 50x | as long as short |
| Deribit W_USDC-PERPETUAL | −0.119% | −0.0432% | 1h | $18K | $351 | 10x | as long as short |
Show all 16 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Variational Omni W | −0.115% | +0.0100% | 4h | $71K | $41K | — | as long as short |
| BingX W-USDT | −0.060% | +0.0100% | 4h | — | $7.0M | — | as long as short |
| Backpack W_USDC_PERPlong | 0.000% | +0.0410% | 1h | $39K | $49K | 15x | |
| Kraken Futures PF_WUSDshort | +0.022% | +0.0901% | 1h | $146K | $193K | 20x | |
| Coinbase International W-PERP-INTX | +0.341% | +0.0024% | 1h | $14K | $22K | 50x | as long as short |
| Injective W/USDC PERP | +3.069% | +0.0033% | 1h | $1K | $23K | 12x | as long as short |