Funding arb · Price arb /

EIGEN

all EIGEN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0694%/8h= +76.0% APRpaid last 24h +0.201%

Price spread now: Kraken Futures against Bybit+0.003%7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1161.158% 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+0.569%+$57 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.003%, 7d avg +0.110%

Together, before fees+0.560%+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.107% cheaper against Bybit than usual: you would sell low and buy high (spread +0.003% now, against its 7-day average of +0.110%). If the spread goes back, that is −$11 on $10k: about 12 hours of funding at the current rate (+$21 a day). At the pace of the last 7 days (+0.569% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EIGENUSDT	0.2379	−0.0368	get 0.0184% / 4h	2h 21m	$9.2M	$7.2M	50x
Short	Kraken Futures PF_EIGENUSD	0.2379	0.0326	get 0.0041% / 1h	21m 14s	$159K	$111K	20x

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 +0.003%Rate

Funding earned: $145.75
Price spread: +0.003% → +0.110%: −$10.66
Slippage, 4 orders: −$94.76
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $19.33
Costs to cover: 1.158%
Break-even: 6.1 days

Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 26 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, 2 min ago	6.34 bp	22.1 bp −$22	57.0 bp −$570	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 26 min ago	6.28 bp	36.0 bp −$36	doesn't fit	doesn't fit	doesn't fit

EIGEN on 26 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
Bybit EIGENUSDTlong	−0.0368%	4h	0.2379	long leg	$9.2M	$7.2M	50x
01 Exchange EIGENUSD	−0.0048%	1h	0.2380	+0.025%	$807	$5K	10x	as long as short
dYdX EIGEN-USD	0.0000%	1h	0.2376	−0.161%	$3K	—	5x	as long as short
Deribit EIGEN_USDC-PERPETUAL	0.0000%	1h	0.2379	−0.004%	—	$41	10x	as long as short
Injective EIGEN/USDC PERP	+0.0033%	1h	0.2438	+2.463%	$6	$6	5.5x	as long as short
Gate EIGEN_USDT	+0.0074%	4h	0.2380	+0.025%	$715K	$579K	50x	as long as short
Lighter EIGEN	+0.0096%	1h	0.2379	−0.013%	$535K	$508K	5x	as long as short
Nado EIGEN-PERP	+0.0100%	1h	0.2380	+0.046%	$37K	$20K	3x	as long as short
Hyperliquid EIGEN	+0.0100%	1h	0.2385	+0.235%	$4.5M	$1.7M	5x	as long as short
Aster EIGENUSDT	+0.0100%	4h	0.2380	+0.027%	$44K	$26K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance EIGENUSDT	+0.0100%	4h	0.2380	+0.027%	$8.1M	$19.9M	75x	as long as short
OKX EIGEN-USDT-SWAP	+0.0100%	4h	0.2378	−0.059%	$1.6M	$4.7M	20x	as long as short
MEXC EIGEN_USDT	+0.0100%	4h	0.2382	+0.109%	$7.9M	$2.3M	125x	as long as short
KuCoin EIGENUSDTM	+0.0100%	4h	0.2381	+0.067%	$2.4M	$9.9M	50x	as long as short
Bitget EIGENUSDT	+0.0100%	4h	0.2381	+0.067%	$1.8M	$1.4M	75x	as long as short
BingX EIGEN-USDT	+0.0100%	4h	0.2381	+0.067%	—	$1.6M	—	as long as short
Variational Omni EIGEN	+0.0100%	4h	0.2363	−0.706%	$211K	$134K	—	as long as short
GRVT EIGEN_USDT_Perp	+0.0100%	4h	0.2364	−0.652%	$188K	$2.5M	10x	as long as short
ApeX Omni EIGENUSDT	+0.0100%	1h	0.2365	−0.605%	$34K	$231K	50x	as long as short
Orderly PERP_EIGEN_USDC_mythos	+0.0100%	4h	0.2381	+0.067%	$1K	$4K	10x	as long as short
Extended EIGEN-USD	+0.0104%	1h	0.2377	−0.083%	$88K	$726K	10x	as long as short
BloFin EIGEN-USDT	+0.0128%	4h	0.2367	−0.521%	$350K	$113K	75x	as long as short
GMX EIGEN/USD [ETH-USDC]	L +0.0195% / S −0.0568%	1h	0.2380	+0.032%	$2K	—	100x	as long as short
Kraken Futures PF_EIGENUSDshort	+0.0326%	1h	0.2379	+0.003%	$159K	$111K	20x
Coinbase International EIGEN-PERP-INTX	+0.0360%	1h	0.2385	+0.219%	$40K	$267K	50x	as long as short
Reya EIGENRUSDPERP	+0.0520%	1h	0.2381	+0.061%	$831	—	15x	as long as short