Funding you earn now, next payment 04:00 UTC+0.2793%/8h= +305.8% APRpaid last 24h +0.724%
Price spread now: Kraken Futures against Phemex+0.427%7-day average +0.218% · you sell dearer than you buy
Net, funding: paid 7d − costs+$176as in the Funding arb table
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$1071.068% of the position
Funding, last 7 days+2.823%+$282 on $10k
+Price spread, last 4 days (all we have)−1.192%−$119 · spread now +0.427%, 7d avg +0.218%
=Both sides work for this trade now. Funding pays +$84 a day on $10k at the current rate, and Kraken Futures is 0.209% dearer against Phemex than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.218%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex NAS100USDT | 30,523.5 | 0 | get 0.0000% / 4h | 33m 37s | $1.4M | $184K | 10x |
| Short | Kraken Futures PF_US100USD | 30,653.8 | 0.2793 | get 0.0349% / 1h | 33m 37s | $131K | $127K | 20x |
Phemex NAS100USDT
Kraken Futures PF_US100USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Phemex. 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
- $586.43
- Price spread: +0.427% → +0.218%
- $20.93
- Slippage, 4 orders
- −$84.76
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $500.6
- Costs to cover
- 1.068%
- Break-even
- 1.0 days
Slippage from Phemex: live order book, 4 min ago; Kraken Futures: live order book, 24 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 Phemex live order book, 4 min ago | 10.21 bp | 27.6 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 24 min ago | 4.57 bp | 34.2 bp −$34 | 87.3 bp −$873 | 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 | 30,574.2 | +0.166% | $102K | $38K | 20x | as long as short |
| Gate NAS100_USDT | −0.0200% | 8h | 30,531 | +0.025% | $1.9M | $3.7M | 100x | as long as short |
| MEXC NAS100_USDT | −0.0100% | 8h | 30,587 | +0.208% | $24.8M | $19.7M | 200x | as long as short |
| OKX US100-USDT-SWAP | 0.0000% | 8h | 30,555 | +0.103% | $262K | $381K | 20x | as long as short |
| Bitget NDX100USDT | 0.0000% | 8h | 30,556 | +0.107% | $3.5M | $633K | 50x | as long as short |
| Bullet US100-USD | 0.0000% | 1h | 30,587 | +0.208% | $3K | $89K | 10x | as long as short |
| Phemex NAS100USDTlong | 0.0000% | 4h | 30,523.5 | long leg | $1.4M | $184K | 10x | |
| QFEX US100-USD | +0.0001% | 1h | 30,586 | +0.205% | $1.3M | $1.3M | 30x | as long as short |
| Lighter US100 | +0.0032% | 1h | 30,582 | +0.192% | $3.9M | $95.4M | 30x | as long as short |
| Extended TECH100m-USD | +0.0032% | 1h | 30,587.9 | +0.211% | $2.0M | $5.7M | 20x | as long as short |
Orderly PERP_NAS100_USDC
Gate NAS100_USDT
MEXC NAS100_USDT
OKX US100-USDT-SWAP
Bitget NDX100USDT
Bullet US100-USD
QFEX US100-USD
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 | 30,875.9 | +1.155% | — | $198.1M | 50x | as long as short |
| Paradex US100-USD-PERP | +0.0050% | 8h | 30,581.9 | +0.191% | — | — | 5x | as long as short |
| Polymarket Perps NAS100-USD | +0.0050% | 1h | 30,586 | +0.205% | $7.2M | $1.9M | 50x | as long as short |
| Ondo Perps US100-USD.P | +0.0128% | 1h | 30,604.2 | +0.265% | $6.0M | $8.5M | 25x | as long as short |
| Kraken Futures PF_US100USDshort | +0.2793% | 1h | 30,653.8 | +0.427% | $131K | $127K | 20x |
Vest NDX-USD-PERP
Paradex US100-USD-PERP
Polymarket Perps NAS100-USD
Ondo Perps US100-USD.P