Funding you earn now, next payment 00:00 UTC−0.0896%/8h= −98.1% APRpaid last 24h +0.491%
Price spread now: Bybit against Kraken Futures−0.092%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 −$27 a day on $10k at the current rate, and Bybit is 0.092% cheaper against Kraken Futures than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_METISUSD | 3.5903 | 0.0996 | pay 0.0124% / 1h | 59m 30s | $2K | $8K | 10x |
| Short | Bybit METISUSDT | 3.5870 | 0.0100 | get 0.0050% / 4h | 3h 59m | $717K | $686K | 20x |
Kraken Futures PF_METISUSD
Bybit METISUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$188.16
- Price spread: −0.092% → 0.000%
- −$9.16
- 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
- −$218.32
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 10 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, 10 min ago | 7.02 bp | 101.8 bp −$102 | 400.3 bp −$4,003 | 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.
METIS 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective METIS/USDC PERP | +0.0033% | 1h | 3.2100 | −10.592% | — | $40K | 5.5x | as long as short |
| Aster METISUSDT | +0.0100% | 4h | 3.5855 | −0.133% | $12K | $61K | 5x | as long as short |
| Binance METISUSDT | +0.0100% | 4h | 3.5820 | −0.232% | $2.2M | $4.9M | 50x | as long as short |
| Bybit METISUSDTshort | +0.0100% | 4h | 3.5870 | −0.092% | $717K | $686K | 20x | |
| Gate METIS_USDT | +0.0100% | 4h | 3.5930 | +0.076% | $162K | $159K | 50x | as long as short |
| MEXC METIS_USDT | +0.0100% | 4h | 3.5800 | −0.287% | $691K | $250K | 50x | as long as short |
| KuCoin METISUSDTM | +0.0100% | 4h | 3.5930 | +0.076% | $645K | $245K | 30x | as long as short |
| Bitget METISUSDT | +0.0100% | 4h | 3.5830 | −0.203% | $226K | $487K | 50x | as long as short |
| Variational Omni METIS | +0.0181% | 4h | 3.5850 | −0.147% | $41K | $26K | — | as long as short |
| OKX METIS-USDT-SWAP | +0.0272% | 4h | 3.5830 | −0.203% | $407K | $1.2M | 10x | as long as short |
Injective METIS/USDC PERP
Aster METISUSDT
Binance METISUSDT
Gate METIS_USDT
MEXC METIS_USDT
KuCoin METISUSDTM
Bitget METISUSDT
Variational Omni METIS
OKX METIS-USDT-SWAPShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX METIS-USDT | +0.0466% | 4h | 3.5870 | −0.092% | — | $2.4M | — | as long as short |
| Kraken Futures PF_METISUSDlong | +0.0996% | 1h | 3.5903 | long leg | $2K | $8K | 10x |
BingX METIS-USDT