Funding you earn now, next payment 03:00 UTC−0.1616%/8h= −177.0% APRpaid last 24h −0.061%
Price spread now: KuCoin against Kraken Futures−0.279%7-day average −0.117% · you buy dearer than you sell
Net, funding: paid 7d − costs−$460as in the Funding arb table
Net, price: spread back to 7d avg − costs−$466as in the Price arb table
costs, in and out, $10k−$4504.499% of the position
Funding, last 7 days−0.097%−$10 on $10k
+Price spread, last 4 days (all we have)+0.831%+$83 · spread now −0.279%, 7d avg −0.117%
=Both sides work against this trade now: funding costs −$48 a day on $10k at the current rate, and KuCoin is 0.161% cheaper against Kraken Futures than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.117%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.097% in total (about -5.1% 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 | Kraken Futures PF_WUSD | 0.01184 | 0.1716 | pay 0.0215% / 1h | 1m 58s | $147K | $184K | 20x |
| Short | KuCoin WUSDTM | 0.01181 | 0.0100 | get 0.0050% / 4h | 1h 01m | $382K | $214K | 50x |
Kraken Futures PF_WUSD
KuCoin WUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$339.37
- Price spread: −0.279% → −0.117%
- −$16.14
- Slippage, 4 orders
- −$427.92
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$805.43
- Costs to cover
- 4.499%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 60 min ago; KuCoin: live order book, 20 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 Kraken Futures live order book, 60 min ago | 22.40 bp | 170.4 bp −$170 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 20 min ago | 16.79 bp | 105.2 bp −$105 | 312.8 bp −$3,128 | 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 | −0.0342% | 1h | 0.01182 | −0.228% | $16K | $2K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.086% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01182 | −0.194% | $2.0M | $382K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01181 | −0.279% | $2.9M | $6.6M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01180 | −0.389% | $4.1M | $1.9M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01180 | −0.321% | $1.3M | $1.9M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01180 | −0.363% | $446K | $254K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01182 | −0.228% | $12.8M | $1.4M | 50x | as long as short |
| KuCoin WUSDTMshort | +0.0100% | 4h | 0.01181 | −0.279% | $382K | $214K | 50x | |
| Bitget WUSDT | +0.0100% | 4h | 0.01182 | −0.194% | $1.3M | $583K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
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 | 0.01181 | −0.313% | — | $6.8M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01182 | −0.184% | $71K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01184 | +0.010% | $129K | $423K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01181 | −0.296% | $59K | $235K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0312% | 1h | 0.01196 | +0.963% | $14K | $16K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.0622% | 1h | 0.01183 | −0.127% | $44K | $44K | 15x | as long as short |
| Kraken Futures PF_WUSDlong | +0.1716% | 1h | 0.01184 | long leg | $147K | $184K | 20x |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP