Funding you earn now, next payment 22:00 UTC+0.0848%/8h= +92.8% APRpaid last 24h +0.185%
Price spread now: Bybit against Kraken Futures+0.130%7-day average +0.129% · you sell dearer than you buy
Net, funding: paid 7d − costs−$187as in the Funding arb table
Net, price: spread back to 7d avg − costs−$163as in the Price arb table
costs, in and out, $10k−$1631.633% of the position
Funding, last 7 days−0.238%−$24 on $10k
+Price spread, last 3 days (all we have)+0.245%+$24 · spread now +0.130%, 7d avg +0.129%
=The price spread sits at its 7-day average of +0.129%, so right now this pair is about funding alone: +$25 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.238%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.238% in total (about -12.4% 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 | Kraken Futures PF_USUALUSD | 0.01349 | −0.0748 | get 0.0093% / 1h | 32m 41s | $110K | $23K | 10x |
| Short | Bybit USUALUSDT | 0.01351 | 0.0100 | get 0.0050% / 4h | 2h 32m | $993K | $945K | 25x |
Kraken Futures PF_USUALUSD
Bybit USUALUSDTFunding 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
- $178.05
- Price spread: +0.130% → +0.129%
- $0.1
- Slippage, 4 orders
- −$142.33
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $14.83
- Costs to cover
- 1.633%
- Break-even
- 6.4 days
Slippage from Kraken Futures: live order book, 54 min ago; Bybit: live order book, 43 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, 54 min ago | 37.49 bp | 45.5 bp −$45 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 43 min ago | 4.43 bp | 39.8 bp −$40 | 215.7 bp −$2,157 | doesn't fit | doesn't fit |
USUAL on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective USUAL/USDC PERP | −0.4964% | 1h | 0.01332 | −1.264% | $6K | $2K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDlong | −0.0748% | 1h | 0.01349 | long leg | $110K | $23K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01350 | +0.071% | $385K | $230K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01350 | +0.034% | $2.1M | $3.5M | 50x | as long as short |
| Bybit USUALUSDTshort | +0.0100% | 4h | 0.01351 | +0.130% | $993K | $945K | 25x | |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01350 | +0.071% | $901K | $250K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01350 | +0.041% | $5.9M | $267K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01350 | +0.071% | $279K | $64K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01351 | +0.145% | $818K | $506K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01350 | +0.093% | — | $1.2M | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
BingX USUAL-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01349 | 0.000% | $9K | $208 | — | as long as short |
Variational Omni USUAL