Funding you earn now, next payment 09:00 UTC−0.3346%/8h= −366.4% APRpaid last 24h −0.567%
Price spread now: Bybit against Kraken Futures−0.353%7-day average −0.034% · you buy dearer than you sell
Net, funding: paid 7d − costs−$554as in the Funding arb table
Net, price: spread back to 7d avg − costs−$527as in the Price arb table
costs, in and out, $10k−$4954.955% of the position
Funding, last 7 days−0.584%−$58 on $10k
+Price spread, last 4 days (all we have)−0.647%−$65 · spread now −0.353%, 7d avg −0.034%
=Both sides work against this trade now: funding costs −$100 a day on $10k at the current rate, and Bybit is 0.318% cheaper against Kraken Futures than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of −0.034%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.584% in total (about -30.5% 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 | Kraken Futures PF_PORTALUSD | 0.02028 | 0.3446 | pay 0.0431% / 1h | 38m 36s | $41K | $190K | 10x |
| Short | Bybit PORTALUSDT | 0.02021 | 0.0100 | get 0.0050% / 4h | 3h 38m | $1.3M | $870K | 20x |
Kraken Futures PF_PORTALUSD
Bybit PORTALUSDTFunding 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
- −$702.63
- Price spread: −0.353% → −0.034%
- −$31.82
- Slippage, 4 orders
- −$474.48
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$1,229.93
- Costs to cover
- 4.955%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 59 min ago; Bybit: live order book, 2 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 Kraken Futures live order book, 59 min ago | 36.67 bp | 75.3 bp −$75 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 7.65 bp | 137.3 bp −$137 | doesn't fit | doesn't fit | doesn't fit |
PORTAL on 9 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 PORTAL-USDT | +0.0068% | 4h | 0.02024 | −0.205% | $211K | $21K | 10x | as long as short |
| Aster PORTALUSDT | +0.0100% | 4h | 0.02021 | −0.360% | $10K | $31K | 5x | as long as short |
| Binance PORTALUSDT | +0.0100% | 4h | 0.02020 | −0.395% | $3.3M | $5.2M | 10x | as long as short |
| Bybit PORTALUSDTshort | +0.0100% | 4h | 0.02021 | −0.353% | $1.3M | $870K | 20x | |
| MEXC PORTAL_USDT | +0.0100% | 4h | 0.02018 | −0.501% | $1.1M | $407K | 50x | as long as short |
| KuCoin PORTALUSDTM | +0.0100% | 4h | 0.02018 | −0.501% | $332K | $112K | 10x | as long as short |
| BingX PORTAL-USDT | +0.0100% | 4h | 0.02019 | −0.451% | — | $1.3M | — | as long as short |
| Variational Omni PORTAL | +0.0100% | 4h | 0.02025 | −0.155% | $1K | $7K | — | as long as short |
| Kraken Futures PF_PORTALUSDlong | +0.3446% | 1h | 0.02028 | long leg | $41K | $190K | 10x |
BloFin PORTAL-USDT
Aster PORTALUSDT
Binance PORTALUSDT
MEXC PORTAL_USDT
KuCoin PORTALUSDTM
BingX PORTAL-USDT
Variational Omni PORTAL