Funding you earn now, next payment 02:00 UTC+0.1441%/8h= +157.8% APRpaid last 24h +0.034%
Price spread now: Kraken Futures against Binance+0.255%7-day average +0.119% · you sell dearer than you buy
Net, funding: paid 7d − costs−$224as in the Funding arb table
Net, price: spread back to 7d avg − costs−$225as in the Price arb table
costs, in and out, $10k−$2392.387% of the position
Funding, last 7 days+0.147%+$15 on $10k
+Price spread, last 3 days (all we have)−0.348%−$35 · spread now +0.255%, 7d avg +0.119%
=Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and Kraken Futures is 0.135% dearer against Binance than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.119%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.147% in total (about 7.7% 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 | Binance WUSDT | 0.01178 | 0.0100 | pay 0.0050% / 4h | 2h 41m | $3.0M | $6.7M | 50x |
| Short | Kraken Futures PF_WUSD | 0.01180 | 0.1541 | get 0.0193% / 1h | 41m 02s | $146K | $181K | 20x |
Binance WUSDT
Kraken Futures PF_WUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- $302.63
- Price spread: +0.255% → +0.119%
- $13.55
- Slippage, 4 orders
- −$218.72
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $77.46
- Costs to cover
- 2.387%
- Break-even
- 5.2 days
Slippage from Binance: live order book, 13 min ago; Kraken Futures: live order book, 26 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 Binance live order book, 13 min ago | 1.27 bp | 27.3 bp −$27 | 160.1 bp −$1,601 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 26 min ago | 22.60 bp | 35.6 bp −$36 | doesn't fit | doesn't fit | doesn't fit |
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0005% | 1h | 0.01177 | −0.008% | $16K | $2K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.675% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01178 | +0.042% | $2.0M | $402K | 5x | as long as short |
| Binance WUSDTlong | +0.0100% | 4h | 0.01178 | long leg | $3.0M | $6.7M | 50x | |
| Bybit WUSDT | +0.0100% | 4h | 0.01175 | −0.187% | $4.1M | $1.9M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01177 | −0.059% | $1.3M | $1.9M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01179 | +0.144% | $445K | $264K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01177 | −0.025% | $12.7M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01180 | +0.212% | $451K | $223K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01178 | +0.042% | $1.3M | $565K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01176 | −0.093% | — | $6.9M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01176 | −0.126% | $71K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01181 | +0.298% | $131K | $396K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01177 | −0.022% | $60K | $239K | 5x | as long as short |
| Backpack W_USDC_PERP | +0.0125% | 1h | 0.01179 | +0.136% | $44K | $48K | 15x | as long as short |
| Coinbase International W-PERP-INTX | +0.0360% | 1h | 0.01183 | +0.476% | $14K | $16K | 50x | as long as short |
| Kraken Futures PF_WUSDshort | +0.1541% | 1h | 0.01180 | +0.255% | $146K | $181K | 20x |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Backpack W_USDC_PERP
Coinbase International W-PERP-INTX