Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.447%

Price spread now: Bybit against Kraken Futures+0.043%55s7-day average — · you sell dearer than you buy

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 for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bybit is 0.043% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). 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_MELANIAUSD	0.1079	0.0072	pay 0.0009% / 1h	30m 27s	$25K	$3K	10x
Short	Bybit MELANIAUSDT	0.1080	0.0100	get 0.0050% / 4h	1h 30m	$1.5M	$661K	20x

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

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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 +0.043%Rate

Funding earned: $5.94
Price spread: +0.043% → 0.000%: $4.29
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: −$10.77
Costs to cover: 0.210%
Break-even: 19.7 days

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	7.40 bp	33.4 bp −$33	163.1 bp −$1,631	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.

MELANIA 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
BloFin MELANIA-USDT	+0.0044%	4h	0.1079	−0.003%	$195K	$6K	75x	as long as short
Kraken Futures PF_MELANIAUSDlong	+0.0072%	1h	0.1079	long leg	$25K	$3K	10x
Hyperliquid MELANIA	+0.0100%	1h	0.1079	−0.050%	$1.7M	$201K	3x	as long as short
Binance MELANIAUSDT	+0.0100%	4h	0.1080	+0.038%	$3.0M	$3.0M	75x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1078	−0.170%	$419K	$64K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1080	+0.034%	$1.2M	$135K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1078	−0.133%	$390K	$867K	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1079	−0.022%	$962K	$208K	50x	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1081	+0.169%	$112K	$1K	—	as long as short
Bybit MELANIAUSDTshort	+0.0100%	4h	0.1080	+0.043%	$1.5M	$661K	20x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aevo MELANIA-PERP	+0.0104%	1h	0.1079	−0.013%	$247K	—	3x	as long as short
BingX MELANIA-USDT	+0.0162%	4h	0.1080	+0.052%	—	$1.5M	—	as long as short
Aster MELANIAUSDT	+0.0498%	4h	0.1079	−0.058%	$20K	$16K	5x	as long as short