Funding arb · Price arb /

API3

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0447%/8h= −48.9% APRpaid last 24h −0.015%

Price spread now: Bybit against Kraken Futures−0.553%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

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bybit is 0.553% cheaper against Kraken Futures than usual: you would sell low and buy high (−$55 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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_API3USD	0.2641	0.0547	pay 0.0068% / 1h	19m 26s	$13K	$3K	10x
Short	Bybit API3USDT	0.2626	0.0100	get 0.0050% / 4h	1h 19m	$990K	$407K	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 −0.553%Rate

Funding earned: −$93.82
Price spread: −0.553% → 0.000%: −$55.25
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: −$170.07
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 36 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, 36 min ago	5.75 bp	120.2 bp −$120	doesn't fit	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.

API3 on 12 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
Aster API3USDT	+0.0100%	4h	0.2623	−0.684%	$2K	$3K	5x	as long as short
Binance API3USDT	+0.0100%	4h	0.2624	−0.635%	$2.6M	$2.0M	50x	as long as short
Bybit API3USDTshort	+0.0100%	4h	0.2626	−0.553%	$990K	$407K	25x
OKX API3-USDT-SWAP	+0.0100%	4h	0.2623	−0.666%	$651K	$511K	10x	as long as short
Gate API3_USDT	+0.0100%	8h	0.2625	−0.590%	$127K	$106K	50x	as long as short
MEXC API3_USDT	+0.0100%	4h	0.2623	−0.666%	$483K	$266K	50x	as long as short
KuCoin API3USDTM	+0.0100%	4h	0.2623	−0.666%	$1.0M	$259K	30x	as long as short
Bitget API3USDT	+0.0100%	4h	0.2622	−0.704%	$657K	$202K	20x	as long as short
BingX API3-USDT	+0.0100%	4h	0.2626	−0.553%	—	$6.7M	—	as long as short
Variational Omni API3	+0.0100%	4h	0.2631	−0.382%	$6K	$1	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin API3-USDT	+0.0119%	4h	0.2624	−0.628%	$136K	$28K	50x	as long as short
Kraken Futures PF_API3USDlong	+0.0547%	1h	0.2641	long leg	$13K	$3K	10x