Funding you earn now, next payment 04:00 UTC−0.0253%/8h= −27.7% APRpaid last 24h +0.001%
Price spread now: Bybit against Kraken Futures−0.051%7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$230.226% of the position
Funding, last 7 days−0.048%−$5 on $10k
+Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.051%, 7d avg −0.024%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.027% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.024%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.048% in total (about -2.5% 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_XAUTUSD | 4,349.9 | 0.0222 | pay 0.0028% / 1h | 25m 21s | $5.7M | $4.5M | 50x |
| Short | Bybit XAUTUSDT | 4,347.7 | −0.0032 | pay 0.0016% / 4h | 25m 21s | $120.1M | $28.1M | 75x |
Kraken Futures PF_XAUTUSD
Bybit XAUTUSDTFunding 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
- −$53.18
- Price spread: −0.051% → −0.024%
- −$2.67
- Slippage, 4 orders
- −$1.62
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$78.47
- Costs to cover
- 0.226%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago | 0.23 bp | 5.4 bp −$5 | 7.1 bp −$71 | 17.6 bp −$1,759 | doesn't fit |
| Sell Bybit live order book, 4 min ago | 0.12 bp | 5.6 bp −$6 | 6.1 bp −$61 | 13.6 bp −$1,360 | doesn't fit |
XAUT on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps XAUTUSD | −0.0346% | 1h | 4,347.1 | −0.065% | $56K | $29K | 20x | as long as short |
| Bitget XAUTUSDT | −0.0042% | 4h | 4,347.6 | −0.053% | $25.9M | $15.3M | 75x | as long as short |
| Bybit XAUTUSDTshort | −0.0032% | 4h | 4,347.7 | −0.051% | $120.1M | $28.1M | 75x | |
| MEXC XAUT_USDT | −0.0028% | 4h | 4,347 | −0.067% | $375.3M | $276.2M | 1000x | as long as short |
| Variational Omni XAUT | −0.0026% | 4h | 4,347.3 | −0.059% | $33.1M | $3.5M | — | as long as short |
| Gate XAUT_USDT | 0.0000% | 8h | 4,349.3 | −0.014% | $130.5M | $8.2M | 100x | as long as short |
| Injective XAUT/USDC PERP | +0.0033% | 1h | 4,349.8 | −0.003% | $8K | $149K | 30x | as long as short |
| Binance XAUTUSDT | +0.0039% | 4h | 4,347.6 | −0.052% | $35.1M | $45.4M | 75x | as long as short |
| Extended XAUT-USD | +0.0040% | 1h | 4,346.7 | −0.074% | $272K | $215K | 25x | as long as short |
| BingX XAUT-USDT | +0.0040% | 4h | 4,348.3 | −0.038% | — | $17.8M | — | as long as short |
Aftermath Perps XAUTUSD
Bitget XAUTUSDT
MEXC XAUT_USDT
Variational Omni XAUT
Gate XAUT_USDT
Injective XAUT/USDC PERP
Binance XAUTUSDT
Extended XAUT-USD
BingX XAUT-USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX XAUT-USD | +0.0050% | 1h | 4,347.4 | −0.058% | $10.1M | $2.0M | 25x | as long as short |
| Nado XAUT-PERP | +0.0100% | 1h | 4,347.2 | −0.064% | $4.2M | $963K | 10x | as long as short |
| KuCoin XAUTUSDTM | +0.0100% | 4h | 4,349.7 | −0.005% | $11.5M | $2.9M | 75x | as long as short |
| GRVT XAUT_USDT_Perp | +0.0100% | 4h | 4,348 | −0.044% | $913 | $107K | 10x | as long as short |
| Orderly PERP_XAUT_USDC_mythos | +0.0100% | 4h | 4,347 | −0.067% | $267 | $17K | 10x | as long as short |
| Derive XAUT-PERP | +0.0100% | 1h | 4,348.7 | −0.029% | $1.8M | $298K | 10x | as long as short |
| SunX XAUT-USDT | +0.0100% | 4h | 4,352.7 | +0.063% | $2K | $3.3M | 20x | as long as short |
| HTX XAUT-USDT | +0.0100% | 4h | 4,346.7 | −0.075% | $1.8M | $226K | 75x | as long as short |
| BloFin XAUT-USDT | +0.0212% | 4h | 4,347.6 | −0.053% | $2.3M | $1.6M | 75x | as long as short |
| Kraken Futures PF_XAUTUSDlong | +0.0222% | 1h | 4,349.9 | long leg | $5.7M | $4.5M | 50x |
SoDEX XAUT-USD
Nado XAUT-PERP
KuCoin XAUTUSDTM
GRVT XAUT_USDT_Perp
Orderly PERP_XAUT_USDC_mythos
Derive XAUT-PERP
SunX XAUT-USDT
HTX XAUT-USDT
BloFin XAUT-USDT