Funding you earn now, next payment 22:00 UTC+0.2099%/8h= +229.9% APRpaid last 24h +0.366%
Price spread now: Bybit against Kraken Futures−0.188%7-day average −0.168% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$210as in the Price arb table
costs, in and out, $10k−$2082.084% of the position
Funding, last 7 days+1.364%+$136 on $10k
+Price spread, last 3 days (all we have)+0.777%+$78 · spread now −0.188%, 7d avg −0.168%
=Funding pays, the price is against you. Bybit is 0.020% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.188% now, against its 7-day average of −0.168%). If the spread goes back, that is −$2 on $10k: about under an hour of funding at the current rate (+$63 a day). At the pace of the last 7 days (+1.364% in total) that is about 2 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.364% in total (about 71.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ARUSD | 4.4875 | −0.1999 | get 0.0250% / 1h | 34m 24s | $46K | $155K | 20x |
| Short | Bybit ARUSDT | 4.4790 | 0.0100 | get 0.0100% / 8h | 2h 34m | $4.6M | $8.9M | 75x |
Kraken Futures PF_ARUSD
Bybit ARUSDTFunding 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
- $440.84
- Price spread: −0.188% → −0.168%
- −$2.01
- Slippage, 4 orders
- −$187.38
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $230.46
- Costs to cover
- 2.084%
- Break-even
- 3.3 days
Slippage from Kraken Futures: live order book, 53 min ago; Bybit: live order book, 4 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, 53 min ago | 25.46 bp | 61.4 bp −$61 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 3.35 bp | 52.2 bp −$52 | 228.9 bp −$2,289 | doesn't fit | doesn't fit |
AR on 17 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_ARUSDlong | −0.1999% | 1h | 4.4875 | long leg | $46K | $155K | 20x | |
| GMX AR/USD [WBTC.b-USDC] | L −0.0140% / S +0.0551% | 1h | 4.4783 | −0.205% | $575K | — | 50x | as long as short |
| Injective AR/USDC PERP | +0.0033% | 1h | 4.5720 | +1.884% | $3K | $363 | 5.5x | as long as short |
| Hyperliquid AR | +0.0100% | 1h | 4.4856 | −0.041% | $3.8M | $4.8M | 5x | as long as short |
| Aster ARUSDT | +0.0100% | 8h | 4.4760 | −0.255% | $20K | $626K | 10x | as long as short |
| Binance ARUSDT | +0.0100% | 8h | 4.4780 | −0.211% | $8.8M | $56.4M | 75x | as long as short |
| Bybit ARUSDTshort | +0.0100% | 8h | 4.4790 | −0.188% | $4.6M | $8.9M | 75x | |
| OKX AR-USDT-SWAP | +0.0100% | 8h | 4.4730 | −0.322% | $2.2M | $20.7M | 20x | as long as short |
| Gate AR_USDT | +0.0100% | 8h | 4.4770 | −0.233% | $2.5M | $2.3M | 50x | as long as short |
| MEXC AR_USDT | +0.0100% | 8h | 4.4790 | −0.188% | $6.7M | $4.8M | 100x | as long as short |
GMX AR/USD [WBTC.b-USDC]
Injective AR/USDC PERP
Hyperliquid AR
Aster ARUSDT
Binance ARUSDT
OKX AR-USDT-SWAP
Gate AR_USDT
MEXC AR_USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ARUSDTM | +0.0100% | 8h | 4.4800 | −0.166% | $1.4M | $1.1M | 50x | as long as short |
| Bitget ARUSDT | +0.0100% | 8h | 4.4740 | −0.300% | $3.8M | $5.6M | 75x | as long as short |
| BingX AR-USDT | +0.0100% | 8h | 4.4780 | −0.211% | — | $2.9M | — | as long as short |
| Variational Omni AR | +0.0100% | 8h | 4.4723 | −0.337% | $137K | $173K | — | as long as short |
| ApeX Omni ARUSDT | +0.0100% | 1h | 4.4740 | −0.300% | $57K | $748K | 50x | as long as short |
| Extended AR-USD | +0.0104% | 1h | 4.4785 | −0.200% | $36K | $237K | 10x | as long as short |
| BloFin AR-USDT | +0.0220% | 8h | 4.4850 | −0.055% | $421K | $670K | 20x | as long as short |
KuCoin ARUSDTM
Bitget ARUSDT
BingX AR-USDT
Variational Omni AR
ApeX Omni ARUSDT
Extended AR-USD
BloFin AR-USDT