Funding arb · Price arb /

KAIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1439%/8h= −157.5% APRpaid last 24h −0.195%

Price spread now: Bybit against Kraken Futures−0.306%55s7-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 −$43 a day on $10k at the current rate, and Bybit is 0.306% cheaper against Kraken Futures than usual: you would sell low and buy high (−$31 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_KAIAUSD	0.03203	0.1539	pay 0.0192% / 1h	15m 20s	$45K	$40K	10x
Short	Bybit KAIAUSDT	0.03193	0.0100	get 0.0050% / 4h	2h 15m	$1.9M	$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 −0.306%Rate

Funding earned: −$302.09
Price spread: −0.306% → 0.000%: −$30.65
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: −$353.74
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 1 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, 1 min ago	6.27 bp	34.4 bp −$34	110.6 bp −$1,106	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.

KAIA 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
Binance KAIAUSDT	+0.0100%	4h	0.03198	−0.150%	$2.4M	$4.2M	75x	as long as short
Bybit KAIAUSDTshort	+0.0100%	4h	0.03193	−0.306%	$1.9M	$1.4M	50x
Gate KAIA_USDT	+0.0100%	4h	0.03194	−0.275%	$80K	$76K	50x	as long as short
MEXC KAIA_USDT	+0.0100%	4h	0.03197	−0.182%	$538K	$150K	100x	as long as short
KuCoin KAIAUSDTM	+0.0100%	4h	0.03191	−0.369%	$312K	$69K	30x	as long as short
Bitget KAIAUSDT	+0.0100%	4h	0.03195	−0.244%	$435K	$419K	75x	as long as short
BingX KAIA-USDT	+0.0100%	4h	0.03197	−0.182%	—	$6.5M	—	as long as short
Variational Omni KAIA	+0.0100%	4h	0.03191	−0.354%	$3K	$202	—	as long as short
GRVT KAIA_USDT_Perp	+0.0100%	4h	0.03196	−0.213%	$385K	$510K	10x	as long as short
Extended KAIA-USD	+0.0104%	1h	0.03196	−0.215%	$6K	$98K	5x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin KAIA-USDT	+0.0108%	4h	0.03195	−0.244%	$153K	$21K	75x	as long as short
Kraken Futures PF_KAIAUSDlong	+0.1539%	1h	0.03203	long leg	$45K	$40K	10x