Funding you earn now, next payment 03:00 UTC−0.2807%/8h= −307.3% APRnext payment −$3.51 per $10,000 · paid last 24h −0.713%
Price spread now: QFEX against Kraken Futures−0.259%7-day average −0.046% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$580.583% of the position
Funding, last 4 days (all we have)−0.451%−$45 on $10k
+Price spread, last 4 days (all we have)+0.903%+$90 · spread now −0.259%, 7d avg −0.046%
=Both sides work against this trade now: funding costs −$84 a day on $10k at the current rate, and QFEX is 0.214% cheaper against Kraken Futures than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.046%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.451% in total (about -46.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.51 per $10,000. 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_US100USD | 30,644.5 | 0.2811 | pay 0.0351% / 1h | 24m 14s | $131K | $127K | 20x |
| Short | QFEX US100-USD | 30,565 | 0.0004 | get 0.0000% / 1h | 24m 14s | $1.3M | $1.1M | 30x |
Kraken Futures PF_US100USD
QFEX US100-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$589.4
- Price spread: −0.259% → −0.046%
- −$21.37
- Slippage, 4 orders
- −$38.27
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$669.04
- Costs to cover
- 0.583%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 38 min ago; QFEX: live order book, 2 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, 38 min ago | 4.57 bp | 14.6 bp −$15 | 48.8 bp −$488 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 2 min ago | 0.98 bp | 7.0 bp −$7 | 7.0 bp −$70 | doesn't fit | doesn't fit |
NAS100 on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_NAS100_USDC | −0.0212% | 8h | 30,554.9 | −0.292% | $102K | $38K | 20x | as long as short |
| Gate NAS100_USDT | −0.0200% | 8h | 30,548.1 | −0.314% | $1.9M | $3.7M | 100x | as long as short |
| MEXC NAS100_USDT | −0.0089% | 8h | 30,567 | −0.253% | $24.2M | $19.5M | 200x | as long as short |
| OKX US100-USDT-SWAP | 0.0000% | 8h | 30,549 | −0.311% | $263K | $379K | 20x | as long as short |
| Bitget NDX100USDT | 0.0000% | 8h | 30,551 | −0.305% | $3.5M | $621K | 50x | as long as short |
| Bullet US100-USD | 0.0000% | 1h | 30,568 | −0.249% | $3K | $89K | 10x | as long as short |
| Phemex NAS100USDT | 0.0000% | 4h | 30,543.5 | −0.329% | $1.4M | $175K | 10x | as long as short |
| QFEX US100-USDshort | +0.0004% | 1h | 30,565 | −0.259% | $1.3M | $1.1M | 30x | |
| Lighter US100 | +0.0032% | 1h | 30,563 | −0.266% | $3.9M | $95.4M | 30x | as long as short |
| Extended TECH100m-USD | +0.0032% | 1h | 30,568.8 | −0.247% | $2.2M | $5.3M | 20x | as long as short |
Orderly PERP_NAS100_USDC
Gate NAS100_USDT
MEXC NAS100_USDT
OKX US100-USDT-SWAP
Bitget NDX100USDT
Bullet US100-USD
Phemex NAS100USDT
Lighter US100
Extended TECH100m-USDShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest NDX-USD-PERP | +0.0046% | 1h | 30,860.9 | +0.706% | — | $194.4M | 50x | as long as short |
| Paradex US100-USD-PERP | +0.0050% | 8h | 30,561.9 | −0.270% | — | — | 5x | as long as short |
| Polymarket Perps NAS100-USD | +0.0050% | 1h | 30,567 | −0.253% | $7.2M | $1.9M | 50x | as long as short |
| Ondo Perps US100-USD.P | +0.0130% | 1h | 30,580 | −0.210% | $6.0M | $8.5M | 25x | as long as short |
| Kraken Futures PF_US100USDlong | +0.2811% | 1h | 30,644.5 | long leg | $131K | $127K | 20x |
Vest NDX-USD-PERP
Paradex US100-USD-PERP
Polymarket Perps NAS100-USD
Ondo Perps US100-USD.P