Funding arb · Price arb /

DYM

all DYM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.3596%/8h= −393.8% APRpaid last 24h −0.630%

Price spread now: Bybit against Kraken Futures−0.371%7-day average — · you buy dearer than you sell

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 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$108 a day on $10k at the current rate, and Bybit is 0.371% cheaper against Kraken Futures than usual: you would sell low and buy high (−$37 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_DYMUSD	0.01847	0.3696	pay 0.0462% / 1h	52m 11s	$15K	$5K	10x
Short	Bybit DYMUSDT	0.01840	0.0100	get 0.0050% / 4h	52m 11s	$784K	$455K	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 −0.371%Rate

Funding earned: −$755.19
Price spread: −0.371% → 0.000%: −$37.06
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: −$813.24
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 3 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 no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	8.15 bp	140.1 bp −$140	doesn't fit	doesn't fit	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

DYM on 14 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 DYM/USDC PERP	+0.0033%	1h	0.01718	−6.976%	$237	$12K	5.5x	as long as short
dYdX DYM-USD	+0.0066%	1h	0.01838	−0.498%	$252	$5	5x	as long as short
Hyperliquid DYM	+0.0100%	1h	0.01840	−0.371%	$370K	$241K	3x	as long as short
Aster DYMUSDT	+0.0100%	4h	0.01844	−0.132%	$76K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01841	−0.316%	$2.4M	$4.5M	10x	as long as short
Bybit DYMUSDTshort	+0.0100%	4h	0.01840	−0.371%	$784K	$455K	25x
Gate DYM_USDT	+0.0100%	4h	0.01842	−0.262%	$146K	$90K	25x	as long as short
MEXC DYM_USDT	+0.0100%	4h	0.01841	−0.316%	$1.2M	$578K	20x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01841	−0.316%	$407K	$159K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01842	−0.262%	—	$24.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYM	+0.0100%	4h	0.01843	−0.198%	$9K	$5K	—	as long as short
Extended DYM-USD	+0.0104%	1h	0.01841	−0.341%	$3K	$288K	5x	as long as short
KuCoin DYMUSDTM	+0.0326%	4h	0.01840	−0.371%	$433K	$142K	25x	as long as short
Kraken Futures PF_DYMUSDlong	+0.3696%	1h	0.01847	long leg	$15K	$5K	10x