Funding you earn now, next payment 07:00 UTC+0.1449%/8h= +158.6% APRpaid last 24h +0.163%
Price spread now: Kraken Futures against Bybit+0.389%7-day average +0.224% · you sell dearer than you buy
Net, funding: paid 7d − costs−$2,668as in the Funding arb table
Net, price: spread back to 7d avg − costs−$2,673as in the Price arb table
costs, in and out, $10k−$2,69026.898% of the position
Funding, last 7 days+0.216%+$22 on $10k
+Price spread, last 4 days (all we have)−0.494%−$49 · spread now +0.389%, 7d avg +0.224%
=Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and Kraken Futures is 0.165% dearer against Bybit than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.224%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.216% in total (about 11.2% 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 | Bybit WUSDT | 0.01184 | 0.0100 | pay 0.0050% / 4h | 1h 35m | $4.1M | $1.6M | 50x |
| Short | Kraken Futures PF_WUSD | 0.01189 | 0.1549 | get 0.0194% / 1h | 35m 55s | $148K | $188K | 20x |
Bybit WUSDT
Kraken Futures PF_WUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $304.21
- Price spread: +0.389% → +0.224%
- $16.55
- Slippage, 4 orders
- −$2,668.81
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$2,369.05
- Costs to cover
- 26.898%
- Break-even
- 61.5 days
Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 7 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 Bybit live order book, 2 min ago | 1.69 bp | 32.6 bp −$33 | 134.3 bp −$1,343 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 7 min ago | 35.21 bp | 44.0 bp −$44 | doesn't fit | doesn't fit | doesn't fit |
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0003% | 1h | 0.01186 | +0.203% | $14K | $3K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.120% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01186 | +0.177% | $2.0M | $287K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01187 | +0.220% | $3.0M | $5.4M | 50x | as long as short |
| Bybit WUSDTlong | +0.0100% | 4h | 0.01184 | long leg | $4.1M | $1.6M | 50x | |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01186 | +0.203% | $1.3M | $1.6M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01183 | −0.042% | $429K | $234K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01186 | +0.186% | $12.4M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01185 | +0.093% | $396K | $192K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01187 | +0.262% | $1.3M | $590K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01185 | +0.084% | — | $6.7M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01184 | −0.022% | $71K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01191 | +0.600% | $126K | $382K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01186 | +0.186% | $60K | $145K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0304% | 1h | 0.01196 | +1.030% | $14K | $14K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.1027% | 1h | 0.01188 | +0.304% | $44K | $39K | 15x | as long as short |
| Kraken Futures PF_WUSDshort | +0.1549% | 1h | 0.01189 | +0.389% | $148K | $188K | 20x |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP