Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0069%/8h= +7.5% APRpaid last 24h +0.070%

Price spread now: Bybit against Kraken Futures−0.101%7-day average −0.102% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$710.714% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.315%−$32 on $10k

Price spread, last 3 days (all we have)−0.052%−$5 · spread now −0.101%, 7d avg −0.102%

Together, before fees−0.367%−$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.102%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.315%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TIAUSD	0.4404	−0.0003	get 0.0000% / 1h	25m 26s	$360K	$214K	50x
Short	Bybit TIAUSDT	0.4400	0.0066	get 0.0033% / 4h	2h 25m	$9.5M	$13.0M	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 −0.101%Rate

Funding earned: $14.39
Price spread: −0.101% → −0.102%: $0.06
Slippage, 4 orders: −$50.45
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$57
Costs to cover: 0.714%
Break-even: 34.7 days

Slippage from Kraken Futures: live order book, 42 min ago; Bybit: live order book, 3 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, 42 min ago	12.48 bp	23.6 bp −$24	62.5 bp −$625	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.28 bp	13.2 bp −$13	30.5 bp −$305	187.9 bp −$18.8K	doesn't fit

TIA on 26 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
ApeX Omni TIAUSDT	−0.0165%	1h	0.4388	−0.374%	$49K	$232K	50x	as long as short
OKX TIA-USDT-SWAP	−0.0064%	4h	0.4403	−0.033%	$2.8M	$6.1M	50x	as long as short
Kraken Futures PF_TIAUSDlong	−0.0003%	1h	0.4404	long leg	$360K	$214K	50x
KuCoin TIAUSDTM	0.0000%	4h	0.4401	−0.079%	$4.2M	$8.9M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4409	+0.103%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4408	+0.077%	$1K	—	150x	as long as short
Bybit TIAUSDTshort	+0.0066%	4h	0.4400	−0.101%	$9.5M	$13.0M	50x
Lighter TIA	+0.0096%	1h	0.4410	+0.130%	$156K	$407K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4407	+0.058%	$5K	$321K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4411	+0.144%	$4.7M	$1.7M	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4404	−0.011%	$33K	$245K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4404	−0.011%	$14.4M	$42.6M	75x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4403	−0.033%	$990K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4405	+0.012%	$12.4M	$6.7M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4403	−0.033%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4402	−0.056%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4409	+0.098%	$102K	$161K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4403	−0.027%	$103K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4406	+0.035%	$59K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4401	−0.089%	$42K	$198K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4407	+0.069%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4402	−0.048%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0205%	1h	0.4401	−0.073%	$52K	$199	10x	as long as short
Injective TIA/USDC PERP	+0.0266%	1h	0.4402	−0.056%	$27K	$10K	12x	as long as short
Coinbase International TIA-PERP-INTX	+0.0304%	1h	0.4403	−0.033%	$52K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0464% / S −0.3505%	1h	0.4408	+0.077%	$36K	—	100x	as long as short