Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+3.8666%/8h= +4233.9% APRpaid last 24h +3.454%

Price spread now: Kraken Futures against Bybit+0.199%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 +$1,160 a day on $10k at the current rate, and Kraken Futures is 0.199% dearer against Bybit than usual: you sell high and buy low: +$20 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 IOUSDT	0.1484	0.0100	pay 0.0050% / 4h	1h 36m	$1.1M	$686K	25x
Short	Kraken Futures PF_IOUSD	0.1487	3.8766	get 0.4846% / 1h	36m 36s	$38K	$7K	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 +0.199%Rate

Funding earned: $8,119.89
Price spread: +0.199% → 0.000%: $19.91
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: $8,118.8
Costs to cover: 0.210%
Break-even: 0.0 days

Slippage unknown: Bybit: live order book, 4 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, 4 min ago	6.72 bp	96.7 bp −$97	512.7 bp −$5,127	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.

IO on 14 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
BloFin IO-USDT	+0.0041%	4h	0.1488	+0.249%	$192K	$34K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1488	+0.256%	$989K	$268K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1488	+0.273%	$23K	$47K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1487	+0.213%	$3.0M	$5.1M	50x	as long as short
Bybit IOUSDTlong	+0.0100%	4h	0.1484	long leg	$1.1M	$686K	25x
Gate IO_USDT	+0.0100%	4h	0.1488	+0.249%	$228K	$467K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1486	+0.115%	$1.2M	$225K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1488	+0.249%	$347K	$192K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1489	+0.317%	$1.4M	$1.0M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1488	+0.249%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1490	+0.400%	$30K	$20K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1487	+0.188%	$4K	$209K	5x	as long as short
Injective IO/USDC PERP	+0.0204%	1h	0.1492	+0.519%	$2K	$199	5.5x	as long as short
Kraken Futures PF_IOUSDshort	+3.8766%	1h	0.1487	+0.199%	$38K	$7K	10x