Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.015%

Price spread now: Bybit against Kraken Futures+0.028%55s7-day average −0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.516% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)−0.648%−$65 · spread now +0.028%, 7d avg −0.103%

Together, before fees−0.595%−$59 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.130% dearer against Kraken Futures than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.103%. 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_ARBUSD	0.2183	−0.0075	get 0.0009% / 1h	22m 25s	$1.0M	$4.4M	50x
Short	Bybit ARBUSDT	0.2184	−0.0076	pay 0.0076% / 8h	2h 22m	$54.6M	$124.1M	50x

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 +0.028%Rate

Funding earned: −$0.25
Price spread: +0.028% → −0.103%: $13.05
Slippage, 4 orders: −$30.58
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.79
Costs to cover: 0.516%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Bybit: live order book, 2 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, 1 min ago	7.33 bp	18.2 bp −$18	27.4 bp −$274	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.23 bp	12.2 bp −$12	28.4 bp −$284	54.9 bp −$5,493	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1581%	1h	0.2171	−0.554%	$39K	$372K	12x	as long as short
01 Exchange ARBUSD	−0.0176%	1h	0.2184	+0.041%	$7K	$236	10x	as long as short
Polymarket Perps ARB-USD	−0.0097%	1h	0.2184	+0.037%	$78K	$2.1M	10x	as long as short
Variational Omni ARB	−0.0096%	8h	0.2174	−0.399%	$1.8M	$3.0M	—	as long as short
Bybit ARBUSDTshort	−0.0076%	8h	0.2184	+0.028%	$54.6M	$124.1M	50x
Kraken Futures PF_ARBUSDlong	−0.0075%	1h	0.2183	long leg	$1.0M	$4.4M	50x
OKX ARB-USDT-SWAP	−0.0062%	8h	0.2185	+0.110%	$21.6M	$143.2M	50x	as long as short
MEXC ARB_USDT	−0.0062%	8h	0.2184	+0.055%	$41.6M	$61.4M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0049%	8h	0.2186	+0.133%	$12K	$409K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2184	+0.048%	$65K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2182	−0.027%	$23K	$33K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0009%	1h	0.2185	+0.087%	$44K	—	150x	as long as short
Bitget ARBUSDT	+0.0056%	8h	0.2184	+0.041%	$20.9M	$34.2M	50x	as long as short
Gate ARB_USDT	+0.0076%	8h	0.2184	+0.050%	$5.4M	$18.2M	60x	as long as short
BingX ARB-USDT	+0.0082%	8h	0.2184	+0.046%	—	$53.8M	—	as long as short
RISEx ARB/USDC	+0.0086%	1h	0.2185	+0.080%	$444K	$2.6M	10x	as long as short
Extended ARB-USD	+0.0088%	1h	0.2184	+0.021%	$347K	$2.8M	25x	as long as short
Binance ARBUSDT	+0.0090%	8h	0.2185	+0.071%	$62.4M	$300.2M	75x	as long as short
Lighter ARB	+0.0096%	1h	0.2184	+0.046%	$1.2M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2186	+0.133%	$36.5M	$48.7M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2185	+0.070%	$629K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2185	+0.092%	$42K	$160K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2186	+0.115%	$19.5M	$14.4M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2172	−0.523%	$38K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2182	−0.050%	$464K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2171	−0.554%	$117K	$282K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2184	+0.041%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2182	−0.041%	$9K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2184	+0.060%	$292K	$891K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2181	−0.096%	$4.8M	$12.7M	50x	as long as short
Aevo ARB-PERP	+0.0104%	1h	0.2183	−0.005%	$138K	$7K	3x	as long as short
BloFin ARB-USDT	+0.0208%	8h	0.2183	−0.009%	$3.0M	$2.4M	75x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0277% / S −0.0159%	1h	0.2185	+0.069%	$827K	—	150x	as long as short
Coinbase International ARB-PERP-INTX	+0.0288%	1h	0.2184	+0.041%	$506K	$1.6M	50x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2184	+0.021%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0694%	1h	0.2186	+0.142%	$980K	$2.8M	20x	as long as short