Funding you earn now, next payment 01:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.016%
Price spread now: Bybit against Kraken Futures+0.035%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 +$1 a day on $10k at the current rate, and Bybit is 0.035% dearer against Kraken Futures than usual: you sell high and buy low: +$4 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 | Kraken Futures PF_USDCUSD | 0.9998 | −0.0021 | get 0.0003% / 1h | 16m 52s | $14K | $930 | 50x |
| Short | Bybit USDCUSDT | 1.0001 | 0 | get 0.0000% / 8h | 7h 16m | $9.5M | $349K | 50x |
Kraken Futures PF_USDCUSD
Bybit USDCUSDTFunding 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
- $4.41
- Price spread: +0.035% → 0.000%
- $3.5
- 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
- −$13.09
- Costs to cover
- 0.210%
- Break-even
- 27.8 days
Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 1 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, 1 min ago | 0.50 bp | 6.0 bp −$6 | 9.7 bp −$97 | 149.7 bp −$15.0K | 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.
USDC on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Binance USDCUSDT | −0.0152% | 8h | 0.9995 | −0.026% | $4.4M | $3.8M | 50x | as long as short |
| MEXC USDC_USDT | −0.0152% | 8h | 0.9995 | −0.025% | $19.4M | $588K | 200x | as long as short |
| Bitget USDCUSDT | −0.0142% | 8h | 0.9994 | −0.035% | $4.3M | $17K | 50x | as long as short |
| KuCoin USDCUSDTM | −0.0068% | 8h | 0.9990 | −0.070% | $2.5M | $19K | 30x | as long as short |
| Kraken Futures PF_USDCUSDlong | −0.0021% | 1h | 0.9998 | long leg | $14K | $930 | 50x | |
| Bybit USDCUSDTshort | 0.0000% | 8h | 1.0001 | +0.035% | $9.5M | $349K | 50x | |
| OKX USDC-USDT-SWAP | 0.0000% | 8h | 1.0000 | +0.027% | $1.1M | $41K | 50x | as long as short |
| Gate USDC_USDT | +0.0100% | 8h | 0.9990 | −0.075% | $253K | $35K | 50x | as long as short |
Binance USDCUSDT
MEXC USDC_USDT
Bitget USDCUSDT
KuCoin USDCUSDTM
OKX USDC-USDT-SWAP
Gate USDC_USDT