Funding you earn now, next payment 00:00 UTC−0.1267%/8h= −138.7% APRpaid last 24h +0.161%
Price spread now: Kraken Futures against Bybit+0.345%7-day average +0.201% · you sell dearer than you buy
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs−$151as in the Price arb table
costs, in and out, $10k−$1651.651% of the position
Funding, last 7 days+0.695%+$69 on $10k
+Price spread, last 3 days (all we have)−0.276%−$28 · spread now +0.345%, 7d avg +0.201%
=The price spread pays, funding is against you. Kraken Futures is 0.143% dearer against Bybit than usual: you sell high and buy low (spread +0.345% now, against its 7-day average of +0.201%): +$14 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 9 hours. Mind the row above: over the last 7 days funding on this pair paid +0.695%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.695% in total (about 36.2% 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 | Bybit SPXUSDT | 0.5091 | 0.0100 | pay 0.0050% / 4h | 1m 48s | $11.6M | $16.1M | 50x |
| Short | Kraken Futures PF_SPXUSD | 0.5109 | −0.1167 | pay 0.0146% / 1h | 1m 48s | $243K | $554K | 20x |
Bybit SPXUSDT
Kraken Futures PF_SPXUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$266.01
- Price spread: +0.345% → +0.201%
- $14.32
- Slippage, 4 orders
- −$144.08
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$416.77
- Costs to cover
- 1.651%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 7 min ago; Kraken Futures: live order book, 11 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 Bybit live order book, 7 min ago | 3.96 bp | 20.1 bp −$20 | 56.8 bp −$568 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 11 min ago | 30.70 bp | 47.7 bp −$48 | 142.9 bp −$1,429 | doesn't fit | doesn't fit |
SPX on 19 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SPXUSDshort | −0.1167% | 1h | 0.5109 | +0.345% | $243K | $554K | 20x | |
| Variational Omni SPX | +0.0017% | 4h | 0.5042 | −0.956% | $837K | $1.3M | — | as long as short |
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.4979 | −2.200% | $9 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5097 | +0.118% | $128K | $331K | 5x | as long as short |
| Hyperliquid SPX | +0.0100% | 1h | 0.5100 | +0.173% | $10.0M | $7.8M | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5091 | −0.005% | $129K | $110K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5098 | +0.137% | $5.0M | $21.2M | 75x | as long as short |
| Bybit SPXUSDTlong | +0.0100% | 4h | 0.5091 | long leg | $11.6M | $16.1M | 50x | |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5094 | +0.059% | $967K | $2.8M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5096 | +0.098% | $1.1M | $509K | 50x | as long as short |
Variational Omni SPX
Injective SPX/USDC PERP
Lighter SPX
Hyperliquid SPX
Aster SPXUSDT
Binance SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDTShow all 19 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC SPX_USDT | +0.0100% | 4h | 0.5095 | +0.079% | $11.2M | $4.7M | 100x | as long as short |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5098 | +0.137% | $3.8M | $5.3M | 50x | as long as short |
| Bitget SPXUSDT | +0.0100% | 4h | 0.5098 | +0.137% | $2.7M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5096 | +0.098% | — | $6.9M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5058 | −0.648% | $45K | $245K | 25x | as long as short |
| Orderly PERP_SPX_USDC | +0.0100% | 4h | 0.5102 | +0.216% | $20K | $711 | 10x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5087 | −0.079% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5098 | +0.138% | $35K | $228K | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5083 | −0.157% | $248K | $1.0M | 75x | as long as short |
MEXC SPX_USDT
KuCoin SPXUSDTM
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
Orderly PERP_SPX_USDC
SunX SPX-USDT
Extended SPX-USD
BloFin SPX-USDT