Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1555%/8h= +170.3% APRpaid last 24h +0.579%

Price spread now: Kraken Futures against Bybit+0.032%7-day average +0.121% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,923as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,938as in the Price arb table

costs, in and out, $10k−$1,92919.292% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 3 days (all we have)+0.202%+$20 · spread now +0.032%, 7d avg +0.121%

Together, before fees+0.263%+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.089% cheaper against Bybit than usual: you would sell low and buy high (spread +0.032% now, against its 7-day average of +0.121%). If the spread goes back, that is −$9 on $10k: about 5 hours of funding at the current rate (+$47 a day). At the pace of the last 7 days (+0.061% in total) that is about 10 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% 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	Bybit CVXUSDT	2.0713	0.0100	pay 0.0050% / 4h	50m 25s	$1.7M	$815K	75x
Short	Kraken Futures PF_CVXUSD	2.0720	0.1655	get 0.0207% / 1h	50m 25s	$111K	$76K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.032%Rate

Funding earned: $326.62
Price spread: +0.032% → +0.121%: −$8.88
Slippage, 4 orders: −$1,908.22
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,611.48
Costs to cover: 19.292%
Break-even: 41.5 days

Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 27 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 Bybit live order book, 1 min ago	5.07 bp	35.2 bp −$35	154.7 bp −$1,547	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 27 min ago	74.79 bp	82.4 bp −$82	doesn't fit	doesn't fit	doesn't fit

CVX 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
Injective CVX/USDC PERP	+0.0033%	1h	1.9790	−4.456%	—	$33K	5.5x	as long as short
Binance CVXUSDT	+0.0100%	4h	2.0715	+0.012%	$1.7M	$2.7M	75x	as long as short
Bybit CVXUSDTlong	+0.0100%	4h	2.0713	long leg	$1.7M	$815K	75x
OKX CVX-USDT-SWAP	+0.0100%	4h	2.0700	−0.063%	$255K	$369K	10x	as long as short
Gate CVX_USDT	+0.0100%	8h	2.0700	−0.063%	$69K	$25K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0710	−0.014%	$2.0M	$488K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0710	−0.014%	$822K	$67K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0700	−0.063%	$628K	$132K	25x	as long as short
BingX CVX-USDT	+0.0100%	4h	2.0710	−0.014%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0762	+0.236%	$6K	$2K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin CVX-USDT	+0.0340%	4h	2.0750	+0.179%	$83K	$127K	75x	as long as short
GMX CVX/USD [ETH-USDC]	L +0.0479% / S −0.0190%	1h	2.0680	−0.161%	$169K	—	100x	as long as short
Kraken Futures PF_CVXUSDshort	+0.1655%	1h	2.0720	+0.032%	$111K	$76K	10x