Funding you earn now, next payment 01:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h +0.034%
Price spread now: Bybit against Kraken Futures−0.199%7-day average −0.126% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$640.645% of the position
Funding, last 7 days+0.324%+$32 on $10k
+Price spread, last 3 days (all we have)−0.030%−$3 · spread now −0.199%, 7d avg −0.126%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.072% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.126%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.324%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ALGOUSD | 0.1123 | −0.0564 | get 0.0070% / 1h | 58m 02s | $835K | $1.1M | 50x |
| Short | Bybit ALGOUSDT | 0.1121 | −0.0586 | pay 0.0586% / 8h | 7h 58m | $11.3M | $12.0M | 75x |
Kraken Futures PF_ALGOUSD
Bybit ALGOUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$4.66
- Price spread: −0.199% → −0.126%
- −$7.22
- Slippage, 4 orders
- −$43.46
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$76.35
- Costs to cover
- 0.645%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, just now; Bybit: live order book, 10 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, just now | 11.56 bp | 20.6 bp −$21 | 40.1 bp −$401 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 10 min ago | 0.89 bp | 7.2 bp −$7 | 28.9 bp −$289 | doesn't fit | doesn't fit |
ALGO on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ALGOUSDTshort | −0.0586% | 8h | 0.1121 | −0.199% | $11.3M | $12.0M | 75x | |
| Kraken Futures PF_ALGOUSDlong | −0.0564% | 1h | 0.1123 | long leg | $835K | $1.1M | 50x | |
| Deribit ALGO_USDC-PERPETUAL | −0.0462% | 1h | 0.1122 | −0.074% | $102K | $50K | 25x | as long as short |
| Gate ALGO_USDT | −0.0249% | 8h | 0.1121 | −0.136% | $881K | $807K | 50x | as long as short |
| Variational Omni ALGO | −0.0132% | 8h | 0.1121 | −0.163% | $62K | $12K | — | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0104% | 1h | 0.1124 | +0.113% | $62K | $298K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1123 | −0.021% | $6K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | −0.270% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1124 | +0.086% | $3.8M | $1.9M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1123 | +0.036% | $44K | $36K | 5x | as long as short |
Deribit ALGO_USDC-PERPETUAL
Gate ALGO_USDT
Variational Omni ALGO
Coinbase International ALGO-PERP-INTX
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Hyperliquid ALGO
Aster ALGOUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ALGOUSDT | +0.0100% | 8h | 0.1122 | −0.069% | $10.0M | $34.3M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1121 | −0.145% | $3.0M | $7.5M | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1122 | −0.065% | $23.1M | $2.9M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1123 | −0.012% | $3.6M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1123 | −0.003% | $5.6M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1122 | −0.074% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1122 | −0.110% | $66K | $107K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1122 | −0.103% | $7K | $208K | 10x | as long as short |
| Phemex ALGOUSDT | +0.0106% | 8h | 0.1124 | +0.086% | $3.8M | $1.8M | 50x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1124 | +0.069% | $492K | $794K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0335% / S −0.0339% | 1h | 0.1123 | +0.007% | $7K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1239% | 1h | 0.1123 | +0.011% | $161K | $3K | 5x | as long as short |
Binance ALGOUSDT
OKX ALGO-USDT-SWAP
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Extended ALGO-USD
Phemex ALGOUSDT
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD