Funding arb · Price arb /

ALT

all ALT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0526%/8h= +57.6% APRpaid last 24h −0.074%

Price spread now: Bybit against Kraken Futures−0.192%55s7-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 0.192% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.192% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 29 hours of funding at the current rate (+$16 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ALTUSD	0.007535	−0.0426	get 0.0053% / 1h	7m 29s	$44K	$8K	10x
Short	Bybit ALTUSDT	0.007521	0.0100	get 0.0050% / 4h	1h 07m	$1.2M	$1.8M	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 −0.192%Rate

Funding earned: $110.47
Price spread: −0.192% → 0.000%: −$19.19
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: $70.28
Costs to cover: 0.210%
Break-even: 2.5 days

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 4 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, 4 min ago	4.66 bp	25.6 bp −$26	165.5 bp −$1,655	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.

ALT 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_ALTUSDlong	−0.0426%	1h	0.007535	long leg	$44K	$8K	10x
Injective ALT/USDC PERP	+0.0033%	1h	0.007691	+2.064%	$837	$22	5.5x	as long as short
BloFin ALT-USDT	+0.0074%	4h	0.007526	−0.126%	$168K	$8K	50x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007525	−0.139%	$1.1M	$136K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007524	−0.157%	$2.6M	$3.5M	50x	as long as short
Bybit ALTUSDTshort	+0.0100%	4h	0.007521	−0.192%	$1.2M	$1.8M	25x
Gate ALT_USDT	+0.0100%	8h	0.007520	−0.205%	$49K	$388K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007526	−0.126%	$379K	$171K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007529	−0.086%	$145K	$19K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007521	−0.192%	$603K	$132K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ALT-USDT	+0.0100%	4h	0.007524	−0.152%	—	$1.3M	—	as long as short
Variational Omni ALT	+0.0100%	4h	0.007518	−0.230%	$4K	$16K	—	as long as short
Deribit ALT_USDC-PERPETUAL	+0.0148%	1h	0.007535	−0.006%	—	$0	25x	as long as short
Coinbase International ALT-PERP-INTX	+0.0424%	1h	0.007547	+0.153%	$13K	$2K	50x	as long as short