Funding arb · Price arb /

AIXBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.2035%/8h= +222.8% APRpaid last 24h +0.232%

Price spread now: Bybit against Kraken Futures−0.108%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 0.108% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.108% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 4 hours of funding at the current rate (+$61 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AIXBTUSD	0.02242	−0.1935	get 0.0242% / 1h	27m 37s	$19K	$7K	10x
Short	Bybit AIXBTUSDT	0.02239	0.0100	get 0.0050% / 4h	2h 27m	$1.2M	$959K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BybitbpOrdersPrice spread, now −0.108%Rate

Funding earned: $427.27
Price spread: −0.108% → 0.000%: −$10.84
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $395.43
Costs to cover: 0.210%
Break-even: 0.5 days

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	8.94 bp	35.9 bp −$36	183.8 bp −$1,838	doesn't fit	doesn't fit

Kraken Futures: 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.

AIXBT on 14 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
Kraken Futures PF_AIXBTUSDlong	−0.1935%	1h	0.02242	long leg	$19K	$7K	10x
Variational Omni AIXBT	−0.0135%	4h	0.02237	−0.215%	$98K	$11K	—	as long as short
BloFin AIXBT-USDT	+0.0081%	4h	0.02236	−0.256%	$118K	$63K	50x	as long as short
Hyperliquid AIXBT	+0.0100%	1h	0.02243	+0.057%	$372K	$180K	3x	as long as short
Binance AIXBTUSDT	+0.0100%	4h	0.02243	+0.059%	$2.3M	$2.9M	50x	as long as short
Bybit AIXBTUSDTshort	+0.0100%	4h	0.02239	−0.108%	$1.2M	$959K	25x
OKX AIXBT-USDT-SWAP	+0.0100%	4h	0.02240	−0.077%	$447K	$1.5M	20x	as long as short
Gate AIXBT_USDT	+0.0100%	4h	0.02240	−0.077%	$192K	$79K	25x	as long as short
MEXC AIXBT_USDT	+0.0100%	4h	0.02243	+0.057%	$462K	$180K	100x	as long as short
KuCoin AIXBTUSDTM	+0.0100%	4h	0.02243	+0.057%	$1.2M	$1.4M	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AIXBTUSDT	+0.0100%	4h	0.02243	+0.057%	$636K	$458K	20x	as long as short
BingX AIXBT-USDT	+0.0100%	4h	0.02241	−0.033%	—	$6.6M	—	as long as short
GMX AIXBT/USD [ETH-USDC]	L +0.0269% / S −0.0489%	1h	0.02241	−0.050%	$5K	—	100x	as long as short
Reya AIXBTRUSDPERP	+0.0372%	1h	0.02242	+0.009%	—	—	—	as long as short