Funding arb · Price arb /

GPS

all GPS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.3160%/8h= −346.0% APRpaid last 24h −0.157%

Price spread now: Bybit against Kraken Futures−0.304%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 −$95 a day on $10k at the current rate, and Bybit is 0.304% cheaper against Kraken Futures than usual: you would sell low and buy high (−$30 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_GPSUSD	0.01121	0.3260	pay 0.0408% / 1h	41m 14s	$17K	$8K	10x
Short	Bybit GPSUSDT	0.01117	0.0100	get 0.0050% / 4h	1h 41m	$1.5M	$1.4M	50x

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 −0.304%Rate

Funding earned: −$663.61
Price spread: −0.304% → 0.000%: −$30.39
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: −$715
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 5 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, 5 min ago	2.69 bp	119.2 bp −$119	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.

GPS on 13 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
Aster GPSUSDT	+0.0100%	4h	0.01120	−0.077%	$10K	$18K	5x	as long as short
Binance GPSUSDT	+0.0100%	4h	0.01119	−0.164%	$8.9M	$9.4M	50x	as long as short
Bybit GPSUSDTshort	+0.0100%	4h	0.01117	−0.304%	$1.5M	$1.4M	50x
OKX GPS-USDT-SWAP	+0.0100%	4h	0.01120	−0.126%	$929K	$1.4M	20x	as long as short
Gate GPS_USDT	+0.0100%	8h	0.01120	−0.063%	$585K	$239K	25x	as long as short
MEXC GPS_USDT	+0.0100%	4h	0.01119	−0.188%	$2.8M	$545K	100x	as long as short
KuCoin GPSUSDTM	+0.0100%	4h	0.01120	−0.081%	$546K	$160K	30x	as long as short
Bitget GPSUSDT	+0.0100%	4h	0.01120	−0.090%	$922K	$715K	50x	as long as short
BingX GPS-USDT	+0.0100%	4h	0.01119	−0.179%	—	$1.2M	—	as long as short
Variational Omni GPS	+0.0100%	4h	0.01115	−0.531%	$3K	$201	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX GPS-USDT	+0.0100%	4h	0.01119	−0.179%	$8K	$143K	20x	as long as short
Extended GPS-USD	+0.0104%	1h	0.01119	−0.156%	—	—	5x	as long as short
Kraken Futures PF_GPSUSDlong	+0.3260%	1h	0.01121	long leg	$17K	$8K	10x