Funding arb · Price arb /

UMA

all UMA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.2548%/8h= +279.0% APRpaid last 24h +0.431%

Price spread now: Kraken Futures against Bybit+0.189%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

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 for this trade now. Funding pays +$76 a day on $10k at the current rate, and Kraken Futures is 0.189% dearer against Bybit than usual: you sell high and buy low: +$19 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UMAUSDT	0.4050	0.0100	pay 0.0050% / 4h	1h 13m	$671K	$157K	25x
Short	Kraken Futures PF_UMAUSD	0.4058	0.2648	get 0.0331% / 1h	13m 13s	$14K	$6K	10x

Funding 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 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.189%Rate

Funding earned: $535.01
Price spread: +0.189% → 0.000%: $18.85
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $532.86
Costs to cover: 0.210%
Break-even: 0.0 days

Slippage unknown: Bybit: live order book, 42 min ago; Kraken Futures: no order-book sample. 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 Bybit live order book, 42 min ago	6.20 bp	55.8 bp −$56	3980.0 bp −$39.8K	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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.

UMA on 13 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
Hyperliquid UMA	+0.0100%	1h	0.4052	+0.052%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4048	−0.059%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4049	−0.037%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDTlong	+0.0100%	4h	0.4050	long leg	$671K	$157K	25x
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4048	−0.049%	$315K	$238K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4044	−0.148%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4047	−0.074%	$225K	$164K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4046	−0.099%	$156K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4053	+0.074%	$976K	$67K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4052	+0.049%	—	$2.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMA	+0.0100%	4h	0.4056	+0.141%	$5K	$7	—	as long as short
BloFin UMA-USDT	+0.0122%	4h	0.4050	0.000%	$75K	$8K	50x	as long as short
Kraken Futures PF_UMAUSDshort	+0.2648%	1h	0.4058	+0.189%	$14K	$6K	10x