Funding arb · Price arb /

TURBO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0215%/8h= +23.6% APRpaid last 24h −0.035%

Price spread now: Bybit against Kraken Futures−0.046%7-day average — · you buy dearer than you sell

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 7 days+1.407%+$141 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 0.046% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 17 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+1.407% in total) that is about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TURBOUSD	0.001054	−0.0115	get 0.0014% / 1h	13m 19s	$69K	$30K	20x
Short	Bybit 1000TURBOUSDT	0.001054	0.0100	get 0.0050% / 4h	2h 13m	$377K	$766K	25x

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 −0.046%Rate

Funding earned: $45.18
Price spread: −0.046% → 0.000%: −$4.56
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: $19.62
Costs to cover: 0.210%
Break-even: 4.0 days

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 27 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, 27 min ago	9.59 bp	39.2 bp −$39	364.2 bp −$3,642	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.

TURBO on 14 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_TURBOUSDlong	−0.0115%	1h	0.001054	long leg	$69K	$30K	20x
Injective TURBO/USDC PERP	+0.0033%	1h	0.001069	+1.425%	$83	$4	5.5x	as long as short
Hyperliquid TURBO	+0.0100%	1h	0.001054	+0.002%	$313K	$168K	3x	as long as short
Aster TURBOUSDT	+0.0100%	4h	0.001052	−0.153%	$9K	$20K	10x	as long as short
Binance TURBOUSDT	+0.0100%	4h	0.001053	−0.139%	$2.9M	$6.3M	50x	as long as short
Bybit 1000TURBOUSDTshort	+0.0100%	4h	0.001054	−0.046%	$377K	$766K	25x
OKX TURBO-USDT-SWAP	+0.0100%	4h	0.001055	+0.087%	$883K	$2.2M	20x	as long as short
Gate TURBO_USDT	+0.0100%	4h	0.001053	−0.131%	$384K	$325K	25x	as long as short
MEXC TURBO_USDT	+0.0100%	4h	0.001053	−0.122%	$5.4M	$612K	20x	as long as short
KuCoin TURBOUSDTM	+0.0100%	4h	0.001054	+0.021%	$1.8M	$863K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget TURBOUSDT	+0.0100%	4h	0.001054	+0.002%	$996K	$581K	25x	as long as short
BingX TURBO-USDT	+0.0100%	4h	0.001053	−0.055%	—	$7.7M	—	as long as short
Extended TURBO-USD	+0.0104%	1h	0.001052	−0.178%	$1K	$232K	5x	as long as short
BloFin TURBO-USDT	+0.0127%	4h	0.001052	−0.216%	$151K	$465K	75x	as long as short