Funding arb · Price arb /

CVX

all CVX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.3704%/8h= −405.6% APRpaid last 24h −0.624%

Price spread now: Bybit against Kraken Futures+0.072%7-day average −0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,078as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,049as in the Price arb table

costs, in and out, $10k−$1,06810.684% 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−0.094%−$9 on $10k

Price spread, last 3 days (all we have)−0.325%−$33 · spread now +0.072%, 7d avg −0.125%

Together, before fees−0.419%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.197% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of −0.125%): +$20 on $10k if it goes back. Holding the pair costs −$111 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.094% in total) that is about 15 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.094% in total (about -4.9% 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_CVXUSD	2.0641	0.3804	pay 0.0476% / 1h	26m 58s	$116K	$83K	10x
Short	Bybit CVXUSDT	2.0656	0.0100	get 0.0050% / 4h	2h 26m	$1.7M	$749K	75x

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 +0.072%Rate

Funding earned: −$777.87
Price spread: +0.072% → −0.125%: $19.69
Slippage, 4 orders: −$1,047.42
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,826.6
Costs to cover: 10.684%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 40 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, 40 min ago	27.38 bp	929.6 bp −$930	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	3.89 bp	31.0 bp −$31	120.2 bp −$1,202	doesn't fit	doesn't fit

CVX on 12 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	−4.123%	—	$33K	5.5x	as long as short
Binance CVXUSDT	+0.0100%	4h	2.0618	−0.114%	$1.7M	$2.5M	75x	as long as short
Bybit CVXUSDTshort	+0.0100%	4h	2.0656	+0.072%	$1.7M	$749K	75x
OKX CVX-USDT-SWAP	+0.0100%	4h	2.0640	−0.005%	$254K	$332K	10x	as long as short
Gate CVX_USDT	+0.0100%	8h	2.0620	−0.102%	$69K	$26K	25x	as long as short
MEXC CVX_USDT	+0.0100%	4h	2.0620	−0.102%	$2.0M	$471K	20x	as long as short
KuCoin CVXUSDTM	+0.0100%	4h	2.0650	+0.043%	$819K	$69K	20x	as long as short
Bitget CVXUSDT	+0.0100%	4h	2.0620	−0.102%	$624K	$125K	25x	as long as short
BingX CVX-USDT	+0.0100%	4h	2.0630	−0.054%	—	$1.6M	—	as long as short
Variational Omni CVX	+0.0100%	4h	2.0602	−0.190%	$6K	$2K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX CVX/USD [ETH-USDC]	L +0.0489% / S −0.0195%	1h	2.0640	−0.005%	$170K	—	100x	as long as short
Kraken Futures PF_CVXUSDlong	+0.3804%	1h	2.0641	long leg	$116K	$83K	10x