Funding arb · Price arb /

GRIFFAIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.6291%/8h= +688.8% APRpaid last 24h +3.092%

Price spread now: Kraken Futures against Bybit+0.594%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Kraken Futures

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 for this trade now. Funding pays +$189 a day on $10k at the current rate, and Kraken Futures is 0.594% dearer against Bybit than usual: you sell high and buy low: +$59 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GRIFFAINUSDT	0.01558	0.0100	pay 0.0050% / 4h	2h 36m	$754K	$482K	25x
Short	Kraken Futures PF_GRIFFAINUSD	0.01567	0.6391	get 0.0799% / 1h	36m 12s	$18K	$20K	10x

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 +0.594%Rate

Funding earned: $1,321.01
Price spread: +0.594% → 0.000%: $59.42
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $1,359.44
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 9 min ago; Kraken Futures: no order-book sample. 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 Bybit live order book, 9 min ago	9.60 bp	66.2 bp −$66	1283.6 bp −$12.8K	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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.

GRIFFAIN on 12 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
Reya GRIFFAINRUSDPERP	0.0000%	1h	0.01177	−24.456%	—	—	—	as long as short
BloFin GRIFFAIN-USDT	+0.0088%	4h	0.01555	−0.180%	$274K	$12K	20x	as long as short
Hyperliquid GRIFFAIN	+0.0100%	1h	0.01558	−0.019%	$1.2M	$103K	3x	as long as short
Binance GRIFFAINUSDT	+0.0100%	4h	0.01558	+0.007%	$4.2M	$1.9M	20x	as long as short
Bybit GRIFFAINUSDTlong	+0.0100%	4h	0.01558	long leg	$754K	$482K	25x
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01555	−0.225%	$428K	$86K	10x	as long as short
KuCoin GRIFFAINUSDTM	+0.0100%	4h	0.01548	−0.655%	$473K	$44K	20x	as long as short
Bitget GRIFFAINUSDT	+0.0100%	4h	0.01557	−0.077%	$370K	$284K	10x	as long as short
MEXC GRIFFAIN_USDT	+0.0104%	4h	0.01557	−0.077%	$274K	$115K	100x	as long as short
BingX GRIFFAIN-USDT	+0.0148%	4h	0.01558	−0.006%	—	$6.5M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GRIFFAINUSDT	+0.0274%	4h	0.01554	−0.260%	$15K	$19K	5x	as long as short
Kraken Futures PF_GRIFFAINUSDshort	+0.6391%	1h	0.01567	+0.594%	$18K	$20K	10x