Funding you earn now, next payment 23:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.046%
Price spread now: Bybit against Kraken Futures−0.122%7-day average −0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$82as in the Price arb table
costs, in and out, $10k−$740.742% of the position
Funding, last 7 days+0.028%+$3 on $10k
+Price spread, last 3 days (all we have)+0.499%+$50 · spread now −0.122%, 7d avg −0.049%
=Funding pays, the price is against you. Bybit is 0.073% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.122% now, against its 7-day average of −0.049%). If the spread goes back, that is −$7 on $10k: about 18 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.028% in total) that is about 18 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.028% in total (about 1.5% 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_ETCUSD | 8.8358 | −0.0216 | get 0.0027% / 1h | 52m 56s | $2.0M | $673K | 50x |
| Short | Bybit ETCUSDT | 8.8250 | 0.0100 | get 0.0100% / 8h | 1h 52m | $13.0M | $7.3M | 75x |
Kraken Futures PF_ETCUSD
Bybit ETCUSDTFunding 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
- $66.37
- Price spread: −0.122% → −0.049%
- −$7.3
- Slippage, 4 orders
- −$53.24
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$15.18
- Costs to cover
- 0.742%
- Break-even
- 8.6 days
Slippage from Kraken Futures: live order book, 1 min ago; Bybit: live order book, 5 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, 1 min ago | 3.39 bp | 19.2 bp −$19 | 44.8 bp −$448 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 1.14 bp | 17.6 bp −$18 | 45.6 bp −$456 | 164.6 bp −$16.5K | doesn't fit |
ETC on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ETCUSDlong | −0.0216% | 1h | 8.8358 | long leg | $2.0M | $673K | 50x | |
| Deribit ETC_USDC-PERPETUAL | −0.0180% | 1h | 8.8372 | +0.016% | $501 | $978 | 50x | as long as short |
| dYdX ETC-USD | 0.0000% | 1h | 8.8467 | +0.123% | $9K | $46 | 10x | as long as short |
| gTrade (Gains Network) ETC/USD | L +0.0006% / S −0.0006% | 1h | 8.8402 | +0.049% | — | — | 150x | as long as short |
| Injective ETC/USDC PERP | +0.0033% | 1h | 8.7920 | −0.496% | $33 | $77K | 5.5x | as long as short |
| Hyperliquid ETC | +0.0100% | 1h | 8.8389 | +0.035% | $2.2M | $415K | 5x | as long as short |
| Aster ETCUSDT | +0.0100% | 8h | 8.8351 | −0.008% | $989K | $11K | 10x | as long as short |
| Binance ETCUSDT | +0.0100% | 8h | 8.8330 | −0.032% | $26.3M | $67.6M | 75x | as long as short |
| Bybit ETCUSDTshort | +0.0100% | 8h | 8.8250 | −0.122% | $13.0M | $7.3M | 75x | |
| OKX ETC-USDT-SWAP | +0.0100% | 8h | 8.8230 | −0.145% | $8.7M | $16.4M | 50x | as long as short |
Deribit ETC_USDC-PERPETUAL
dYdX ETC-USD
gTrade (Gains Network) ETC/USD
Injective ETC/USDC PERP
Hyperliquid ETC
Aster ETCUSDT
Binance ETCUSDT
OKX ETC-USDT-SWAPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ETC_USDT | +0.0100% | 8h | 8.8310 | −0.054% | $3.6M | $2.4M | 60x | as long as short |
| MEXC ETC_USDT | +0.0100% | 8h | 8.8250 | −0.122% | $7.7M | $32.0M | 200x | as long as short |
| KuCoin ETCUSDTM | +0.0100% | 8h | 8.8320 | −0.043% | $2.9M | $725K | 50x | as long as short |
| Bitget ETCUSDT | +0.0100% | 8h | 8.8260 | −0.111% | $9.7M | $3.7M | 75x | as long as short |
| BingX ETC-USDT | +0.0100% | 8h | 8.8270 | −0.100% | — | $20.6M | — | as long as short |
| Variational Omni ETC | +0.0100% | 8h | 8.8093 | −0.301% | $125K | $2K | — | as long as short |
| SoDEX ETC-USD | +0.0100% | 1h | 8.8340 | −0.020% | $126 | $5K | 5x | as long as short |
| HTX ETC-USDT | +0.0100% | 8h | 8.8312 | −0.052% | $133K | $270K | 75x | as long as short |
| Phemex ETCUSDT | +0.0100% | 8h | 8.8360 | +0.002% | $2.0M | $2.6M | 50x | as long as short |
| Extended ETC-USD | +0.0104% | 1h | 8.8256 | −0.116% | $11K | $191K | 25x | as long as short |
| BloFin ETC-USDT | +0.0220% | 8h | 8.8390 | +0.036% | $1.4M | $218K | 50x | as long as short |
| Coinbase International ETC-PERP-INTX | +0.0536% | 1h | 8.8440 | +0.093% | $35K | $13K | 50x | as long as short |
Gate ETC_USDT
MEXC ETC_USDT
KuCoin ETCUSDTM
Bitget ETCUSDT
BingX ETC-USDT
Variational Omni ETC
SoDEX ETC-USD
HTX ETC-USDT
Phemex ETCUSDT
Extended ETC-USD
BloFin ETC-USDT
Coinbase International ETC-PERP-INTX