Funding arb · Price arb /

GRT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0958%/8h= +104.9% APRpaid last 24h +0.611%

Price spread now: Kraken Futures against Bybit+0.236%7-day average +0.291% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2,396as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,424as in the Price arb table

costs, in and out, $10k−$2,41824.184% 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+0.221%+$22 on $10k

Price spread, last 3 days (all we have)+0.084%+$8 · spread now +0.236%, 7d avg +0.291%

Together, before fees+0.305%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.055% cheaper against Bybit than usual: you would sell low and buy high (spread +0.236% now, against its 7-day average of +0.291%). If the spread goes back, that is −$5 on $10k: about 5 hours of funding at the current rate (+$29 a day). At the pace of the last 7 days (+0.221% in total) that is about 42 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.221% in total (about 11.5% 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	Bybit GRTUSDT	0.02353	0.0100	pay 0.0100% / 8h	1m 37s	$2.9M	$2.4M	75x
Short	Kraken Futures PF_GRTUSD	0.02359	0.1058	get 0.0132% / 1h	1m 37s	$289K	$65K	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 +0.236%Rate

Funding earned: $201.25
Price spread: +0.236% → +0.291%: −$5.5
Slippage, 4 orders: −$2,397.45
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$2,222.69
Costs to cover: 24.184%
Break-even: 84.3 days

Slippage from Bybit: live order book, 6 min ago; Kraken Futures: live order book, 11 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, 6 min ago	2.13 bp	19.9 bp −$20	46.3 bp −$463	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 11 min ago	19.10 bp	41.0 bp −$41	doesn't fit	doesn't fit	doesn't fit

GRT 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
Variational Omni GRT	−0.0126%	8h	0.02347	−0.247%	$112K	$85K	—	as long as short
gTrade (Gains Network) GRT/USD	L +0.0024% / S +0.0001%	1h	0.02356	+0.118%	$644	—	150x	as long as short
Injective GRT/USDC PERP	+0.0033%	1h	0.02217	−5.780%	—	$8K	5.5x	as long as short
BloFin GRT-USDT	+0.0073%	8h	0.02355	+0.085%	$176K	$234K	75x	as long as short
Bitget GRTUSDT	+0.0086%	8h	0.02353	0.000%	$2.4M	$791K	75x	as long as short
Binance GRTUSDT	+0.0100%	8h	0.02356	+0.110%	$3.6M	$8.9M	75x	as long as short
Bybit GRTUSDTlong	+0.0100%	8h	0.02353	long leg	$2.9M	$2.4M	75x
OKX GRT-USDT-SWAP	+0.0100%	8h	0.02351	−0.085%	$627K	$895K	20x	as long as short
Gate GRT_USDT	+0.0100%	8h	0.02355	+0.085%	$460K	$439K	50x	as long as short
MEXC GRT_USDT	+0.0100%	8h	0.02356	+0.127%	$1.9M	$1.1M	200x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin GRTUSDTM	+0.0100%	8h	0.02354	+0.042%	$1.1M	$631K	50x	as long as short
BingX GRT-USDT	+0.0100%	8h	0.02353	0.000%	—	$2.4M	—	as long as short
Kraken Futures PF_GRTUSDshort	+0.1058%	1h	0.02359	+0.236%	$289K	$65K	20x