Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.010%

Price spread now: Kraken Futures against Bybit−0.169%7-day average — · you buy dearer than you sell

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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.169% cheaper against Bybit than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EURUSDUSDT	1.1481	0	get 0.0000% / 8h	49m 47s	$580K	$311K	100x
Short	Kraken Futures PF_EURUSD	1.1462	−0.0020	pay 0.0003% / 1h	49m 47s	$3K	—	50x

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 −0.169%Rate

Funding earned: −$4.27
Price spread: −0.169% → 0.000%: −$16.95
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: −$42.22
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 45 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, 45 min ago	4.00 bp	10.4 bp −$10	44.4 bp −$444	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.

EUR on 18 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
MEXC EUR_USDT	−0.0284%	4h	1.1466	−0.134%	$6.8M	$133K	100x	as long as short
Kraken Futures PF_EURUSDshort	−0.0020%	1h	1.1462	−0.169%	$3K	—	50x
Bybit EURUSDUSDTlong	0.0000%	8h	1.1481	long leg	$580K	$311K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1476	−0.047%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1473	−0.073%	$263K	$25K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1463	−0.160%	$198K	$73K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1470	−0.099%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1470	−0.099%	$13K	$272K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1463	−0.161%	$6.8M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.131%	$9K	$78K	101x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest EUR-USD-PERP	+0.0046%	1h	1.1494	+0.106%	—	$241K	100x	as long as short
Nado EURUSD-PERP	+0.0047%	1h	1.1465	−0.145%	$467K	$159K	40x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1467	−0.125%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1475	−0.052%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0216%	1h	1.1473	−0.073%	$33K	—	50x	as long as short
Hibachi EUR/USDT-P	+0.0240%	1h	1.1465	−0.144%	$164K	$8.3M	30x	as long as short
tradeXYZ xyz:EUR	+0.0258%	1h	1.1472	−0.082%	$23.2M	$1.6M	50x	as long as short
Lighter EURUSD	+0.0400%	1h	1.1480	−0.017%	$2.2M	$384K	50x	as long as short