Funding you earn now, next payment 06:00 UTC−0.0575%/8h= −63.0% APRpaid last 24h −0.044%
Price spread now: Bybit against Kraken Futures−0.120%7-day average −0.147% · you buy dearer than you sell
Net, funding: paid 7d − costs−$89as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$680.676% of the position
Funding, last 7 days−0.212%−$21 on $10k
+Price spread, last 4 days (all we have)−0.165%−$17 · spread now −0.120%, 7d avg −0.147%
=The price spread pays, funding is against you. Bybit is 0.026% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.120% now, against its 7-day average of −0.147%): +$3 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.212% in total) that is about 21 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.212% in total (about -11.1% 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_CRVUSD | 0.3601 | 0.0675 | pay 0.0084% / 1h | 56m 06s | $3.0M | $2.6M | 50x |
| Short | Bybit CRVUSDT | 0.3597 | 0.0100 | get 0.0100% / 8h | 2h 56m | $27.3M | $18.0M | 75x |
Kraken Futures PF_CRVUSD
Bybit CRVUSDTFunding 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
- −$120.85
- Price spread: −0.120% → −0.147%
- $2.63
- Slippage, 4 orders
- −$46.63
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$185.85
- Costs to cover
- 0.676%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago | 2.79 bp | 16.0 bp −$16 | 37.0 bp −$370 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 1.40 bp | 23.2 bp −$23 | 40.3 bp −$403 | 217.4 bp −$21.7K | doesn't fit |
CRV on 30 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya CRVRUSDPERP | −0.0048% | 1h | 0.3595 | −0.178% | $15 | — | 15x | as long as short |
| dYdX CRV-USD | 0.0000% | 1h | 0.3598 | −0.102% | $37K | $8K | 10x | as long as short |
| Deribit CRV_USDC-PERPETUAL | 0.0000% | 1h | 0.3600 | −0.037% | $54K | $46K | 25x | as long as short |
| Injective CRV/USDC PERP | +0.0033% | 1h | 0.3670 | +1.907% | $79 | $384K | 12x | as long as short |
| Phoenix CRV | +0.0044% | 1h | 0.3597 | −0.123% | $26K | $173K | 10x | as long as short |
| Lighter CRV | +0.0096% | 1h | 0.3598 | −0.084% | $382K | $694K | 10x | as long as short |
| Hyperliquid CRV | +0.0100% | 1h | 0.3601 | +0.002% | $21.4M | $15.7M | 10x | as long as short |
| Aster CRVUSDT | +0.0100% | 8h | 0.3601 | −0.012% | $128K | $180K | 10x | as long as short |
| Pacifica CRV | +0.0100% | 1h | 0.3599 | −0.051% | $365K | $198K | 10x | as long as short |
| Binance CRVUSDT | +0.0100% | 8h | 0.3599 | −0.065% | $24.9M | $55.8M | 75x | as long as short |
Reya CRVRUSDPERP
dYdX CRV-USD
Deribit CRV_USDC-PERPETUAL
Injective CRV/USDC PERP
Phoenix CRV
Lighter CRV
Hyperliquid CRV
Aster CRVUSDT
Pacifica CRV
Binance CRVUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit CRVUSDTshort | +0.0100% | 8h | 0.3597 | −0.120% | $27.3M | $18.0M | 75x | |
| OKX CRV-USDT-SWAP | +0.0100% | 8h | 0.3600 | −0.037% | $8.7M | $19.9M | 50x | as long as short |
| Gate CRV_USDT | +0.0100% | 8h | 0.3600 | −0.037% | $1.9M | $1.3M | 50x | as long as short |
| MEXC CRV_USDT | +0.0100% | 8h | 0.3600 | −0.037% | $13.0M | $5.6M | 125x | as long as short |
| KuCoin CRVUSDTM | +0.0100% | 8h | 0.3601 | −0.009% | $6.0M | $8.5M | 50x | as long as short |
| Bitget CRVUSDT | +0.0100% | 8h | 0.3601 | −0.009% | $6.7M | $5.2M | 75x | as long as short |
| BingX CRV-USDC | +0.0100% | 8h | 0.3600 | −0.037% | — | $1.6M | — | as long as short |
| Backpack CRV_USDC_PERP | +0.0100% | 1h | 0.3602 | +0.007% | $95K | $260K | 10x | as long as short |
| Variational Omni CRV | +0.0100% | 8h | 0.3591 | −0.290% | $1.1M | $94K | — | as long as short |
| edgeX CRVUSDC | +0.0100% | 4h | 0.3592 | −0.258% | $37K | $174K | 20x | as long as short |
| GRVT CRV_USDT_Perp | +0.0100% | 8h | 0.3594 | −0.200% | $505K | $443K | 10x | as long as short |
| ApeX Omni CRVUSDT | +0.0100% | 1h | 0.3580 | −0.592% | $54K | $684K | 50x | as long as short |
| Orderly PERP_CRV_USDC | +0.0100% | 8h | 0.3599 | −0.065% | $24K | $902 | 10x | as long as short |
| SunX CRV-USDT | +0.0100% | 8h | 0.3651 | +1.379% | $2K | $1.3M | 20x | as long as short |
| Extended CRV-USD | +0.0104% | 1h | 0.3598 | −0.092% | $253K | $494K | 25x | as long as short |
| Aevo CRV-PERP | +0.0104% | 1h | 0.3599 | −0.065% | $13K | $6K | 3x | as long as short |
| BloFin CRV-USDT | +0.0220% | 8h | 0.3595 | −0.176% | $1.4M | $4.0M | 75x | as long as short |
| GMX CRV/USD [ETH-USDC] | L +0.0416% / S −0.0177% | 1h | 0.3598 | −0.083% | $210K | — | 100x | as long as short |
| Coinbase International CRV-PERP-INTX | +0.0432% | 1h | 0.3611 | +0.269% | $359K | $4.2M | 50x | as long as short |
| Kraken Futures PF_CRVUSDlong | +0.0675% | 1h | 0.3601 | long leg | $3.0M | $2.6M | 50x |
OKX CRV-USDT-SWAP
Gate CRV_USDT
MEXC CRV_USDT
KuCoin CRVUSDTM
Bitget CRVUSDT
BingX CRV-USDC
Backpack CRV_USDC_PERP
Variational Omni CRV
edgeX CRVUSDC
GRVT CRV_USDT_Perp
ApeX Omni CRVUSDT
Orderly PERP_CRV_USDC
SunX CRV-USDT
Extended CRV-USD
Aevo CRV-PERP
BloFin CRV-USDT
GMX CRV/USD [ETH-USDC]
Coinbase International CRV-PERP-INTX