Funding you earn now, next payment 02:00 UTC+0.0790%/8h= +86.5% APRpaid last 24h −0.052%
Price spread now: Kraken Futures against Bybit+0.044%7-day average +0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$94as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$610.609% of the position
Funding, last 7 days−0.331%−$33 on $10k
+Price spread, last 3 days (all we have)−0.045%−$5 · spread now +0.044%, 7d avg +0.093%
=Funding pays, the price is against you. Kraken Futures is 0.049% cheaper against Bybit than usual: you would sell low and buy high (spread +0.044% now, against its 7-day average of +0.093%). If the spread goes back, that is −$5 on $10k: about 5 hours of funding at the current rate (+$24 a day). Mind the row above: over the last 7 days funding on this pair cost −0.331%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.331% in total (about -17.3% 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 ICPUSDT | 3.0160 | 0.0100 | pay 0.0100% / 8h | 6h 22m | $17.7M | $19.0M | 75x |
| Short | Kraken Futures PF_ICPUSD | 3.0173 | 0.0890 | get 0.0111% / 1h | 22m 54s | $547K | $611K | 50x |
Bybit ICPUSDT
Kraken Futures PF_ICPUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $165.89
- Price spread: +0.044% → +0.093%
- −$4.9
- Slippage, 4 orders
- −$39.92
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $100.07
- Costs to cover
- 0.609%
- Break-even
- 2.8 days
Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 45 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 | 3.32 bp | 11.1 bp −$11 | 31.7 bp −$317 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 45 min ago | 6.53 bp | 15.5 bp −$15 | 38.7 bp −$387 | doesn't fit | doesn't fit |
ICP on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ICP_USDC-PERPETUAL | −0.0281% | 1h | 3.0135 | −0.083% | $269 | $464 | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 3.0177 | +0.058% | $70K | $4K | 5x | as long as short |
| Variational Omni ICP | +0.0002% | 8h | 3.0160 | 0.000% | $1.1M | $118K | — | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0011% | 1h | 3.0142 | −0.058% | $23K | — | 150x | as long as short |
| Injective ICP/USDC PERP | +0.0033% | 1h | 2.9665 | −1.641% | $202 | $200K | 12x | as long as short |
| Lighter ICP | +0.0096% | 1h | 3.0161 | +0.003% | $165K | $491K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 3.0144 | −0.052% | $281K | $1.7M | 20x | as long as short |
| Pacifica ICP | +0.0100% | 1h | 3.0152 | −0.026% | $137K | $11K | 5x | as long as short |
| Binance ICPUSDT | +0.0100% | 8h | 3.0170 | +0.033% | $29.8M | $53.9M | 75x | as long as short |
| Bybit ICPUSDTlong | +0.0100% | 8h | 3.0160 | long leg | $17.7M | $19.0M | 75x |
Deribit ICP_USDC-PERPETUAL
dYdX ICP-USD
Variational Omni ICP
gTrade (Gains Network) ICP/USD
Injective ICP/USDC PERP
Lighter ICP
Aster ICPUSDT
Pacifica ICP
Binance ICPUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 3.0160 | 0.000% | $5.9M | $17.2M | 50x | as long as short |
| Gate ICP_USDT | +0.0100% | 8h | 3.0140 | −0.066% | $1.9M | $3.1M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 3.0180 | +0.066% | $19.5M | $10.1M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 3.0160 | 0.000% | $5.0M | $13.4M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 3.0200 | +0.133% | $7.1M | $4.9M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 3.0140 | −0.066% | — | $6.0M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 3.0111 | −0.162% | $23K | $278K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 3.0171 | +0.038% | $585K | $491K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 3.0140 | −0.066% | $2K | $1.8M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 3.0110 | −0.166% | $105K | $239K | 20x | as long as short |
| Phemex ICPUSDT | +0.0100% | 8h | 3.0070 | −0.298% | $1.8M | $793K | 50x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 3.0168 | +0.027% | $22K | $131K | 10x | as long as short |
| Hyperliquid ICP | +0.0242% | 1h | 3.0180 | +0.066% | $4.7M | $5.0M | 5x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0256% | 1h | 3.0180 | +0.066% | $65K | $71K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0509% / S −0.0480% | 1h | 3.0136 | −0.079% | $37K | — | 100x | as long as short |
| Kraken Futures PF_ICPUSDshort | +0.0890% | 1h | 3.0173 | +0.044% | $547K | $611K | 50x |
OKX ICP-USDT-SWAP
Gate ICP_USDT
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Phemex ICPUSDT
Extended ICP-USD
Hyperliquid ICP
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]