Funding arb · Price arb /

ATH

all ATH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.4738%/8h= +518.9% APRpaid last 24h −1.280%

Price spread now: Bybit against Kraken Futures+0.240%7-day average −0.275% · you sell dearer than you buy

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 7 days−0.308%−$31 on $10k

Price spread, last 3 days (all we have)−0.349%−$35 · spread now +0.240%, 7d avg −0.275%

Together, before fees−0.656%−$66 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$142 a day on $10k at the current rate, and Bybit is 0.515% dearer against Kraken Futures than usual: you sell high and buy low: +$52 more if the spread goes back to its 7-day average of −0.275%. Mind the row above: over the last 7 days funding on this pair cost −0.308%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.308% in total (about -16.0% 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_ATHUSD	0.005564	−0.4638	get 0.0580% / 1h	42m 28s	$19K	$106K	10x
Short	Bybit ATHUSDT	0.005577	0.0100	get 0.0050% / 4h	1h 42m	$4.5M	$2.3M	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 +0.240%Rate

Funding earned: $995.08
Price spread: +0.240% → −0.275%: $51.52
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: $1,025.61
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 40 min ago; Bybit: live order book, 5 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 live order book, 40 min ago	20.48 bp	85.6 bp −$86	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.59 bp	31.1 bp −$31	119.8 bp −$1,198	doesn't fit	doesn't fit

ATH on 13 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_ATHUSDlong	−0.4638%	1h	0.005564	long leg	$19K	$106K	10x
Variational Omni ATH	−0.0051%	4h	0.005564	−0.002%	$187K	$93K	—	as long as short
dYdX ATH-USD	−0.0016%	1h	0.005600	+0.661%	$11K	$16	5x	as long as short
BloFin ATH-USDT	+0.0073%	4h	0.005583	+0.348%	$174K	$62K	75x	as long as short
OKX ATH-USDT-SWAP	+0.0086%	4h	0.005573	+0.168%	$713K	$1.3M	20x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005598	+0.618%	$6K	$35K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005584	+0.366%	$3.4M	$3.9M	50x	as long as short
Bybit ATHUSDTshort	+0.0100%	4h	0.005577	+0.240%	$4.5M	$2.3M	25x
Gate ATH_USDT	+0.0100%	4h	0.005584	+0.366%	$797K	$517K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005593	+0.528%	$8.9M	$648K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005582	+0.330%	$572K	$81K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005586	+0.402%	$1.6M	$799K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005586	+0.402%	—	$22.0M	—	as long as short