Funding arb · Price arb /

GALA

all GALA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0458%/8h= +50.2% APRpaid last 24h +0.121%

Price spread now: Kraken Futures against Bybit+0.055%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1081.080% 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−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now +0.055%, 7d avg +0.067%

Together, before fees−0.068%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.067%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.3% 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 GALAUSDT	0.002078	0.0100	pay 0.0100% / 8h	7h 51m	$6.0M	$6.0M	75x
Short	Kraken Futures PF_GALAUSD	0.002079	0.0558	get 0.0070% / 1h	51m 23s	$671K	$240K	25x

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 +0.055%Rate

Funding earned: $96.28
Price spread: +0.055% → +0.067%: −$1.16
Slippage, 4 orders: −$86.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$12.86
Costs to cover: 1.080%
Break-even: 7.9 days

Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 47 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	2.41 bp	17.9 bp −$18	59.4 bp −$594	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 47 min ago	12.10 bp	44.3 bp −$44	75.1 bp −$751	doesn't fit	doesn't fit

GALA on 15 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 GALA/USDC PERP	+0.0033%	1h	0.002110	+1.540%	$2K	$7K	5.5x	as long as short
BloFin GALA-USDT	+0.0082%	8h	0.002074	−0.192%	$301K	$65K	20x	as long as short
Hyperliquid GALA	+0.0100%	1h	0.002078	0.000%	$304K	$144K	3x	as long as short
Aster GALAUSDT	+0.0100%	8h	0.002079	+0.047%	$16K	$8K	5x	as long as short
Binance GALAUSDT	+0.0100%	8h	0.002079	+0.048%	$5.5M	$17.1M	75x	as long as short
Bybit GALAUSDTlong	+0.0100%	8h	0.002078	long leg	$6.0M	$6.0M	75x
OKX GALA-USDT-SWAP	+0.0100%	8h	0.002079	+0.048%	$2.2M	$4.1M	50x	as long as short
Gate GALA_USDT	+0.0100%	8h	0.002078	0.000%	$1.8M	$1.5M	75x	as long as short
MEXC GALA_USDT	+0.0100%	8h	0.002077	−0.048%	$5.5M	$3.2M	125x	as long as short
KuCoin GALAUSDTM	+0.0100%	8h	0.002077	−0.048%	$1.7M	$4.5M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget GALAUSDT	+0.0100%	8h	0.002078	0.000%	$2.1M	$1.4M	75x	as long as short
BingX GALA-USDT	+0.0100%	8h	0.002077	−0.048%	—	$13.7M	—	as long as short
Variational Omni GALA	+0.0100%	8h	0.002070	−0.377%	$25K	$14K	—	as long as short
Extended GALA-USD	+0.0104%	1h	0.002078	+0.021%	$2K	$191K	5x	as long as short
Kraken Futures PF_GALAUSDshort	+0.0558%	1h	0.002079	+0.055%	$671K	$240K	25x