Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1946%/8h= +213.1% APRpaid last 24h +0.005%

Price spread now: Bybit against Kraken Futures+0.257%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Bybit

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 for this trade now. Funding pays +$58 a day on $10k at the current rate, and Bybit is 0.257% dearer against Kraken Futures than usual: you sell high and buy low: +$26 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_EURUSD	1.1443	−0.0131	get 0.0016% / 1h	43m 19s	$3K	—	50x
Short	Bybit EURUSDUSDT	1.1472	0.1815	get 0.1815% / 8h	7h 43m	$579K	$309K	100x

Funding 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 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now +0.257%Rate

Funding earned: $408.66
Price spread: +0.257% → 0.000%: $25.73
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: $413.39
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 47 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, 47 min ago	6.14 bp	14.7 bp −$15	38.6 bp −$386	doesn't fit	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.

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	−0.0146%	4h	1.1446	+0.027%	$6.8M	$138K	100x	as long as short
Kraken Futures PF_EURUSDlong	−0.0131%	1h	1.1443	long leg	$3K	—	50x
Lighter EURUSD	0.0000%	1h	1.1447	+0.038%	$2.1M	$537K	50x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1469	+0.228%	$263K	$25K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1438	−0.042%	$246K	$122K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1451	+0.071%	—	$2.3M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1453	+0.089%	$12K	$273K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1438	−0.039%	$6.8M	$1.4M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	+0.206%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1471	+0.248%	—	$224K	100x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica EURUSD	+0.0100%	1h	1.1440	−0.022%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1444	+0.013%	$12K	—	10x	as long as short
Nado EURUSD-PERP	+0.0133%	1h	1.1444	+0.009%	$465K	$159K	40x	as long as short
Gate EURUSD_USDT	+0.0180%	8h	1.1461	+0.159%	$143K	$3K	100x	as long as short
tradeXYZ xyz:EUR	+0.0299%	1h	1.1449	+0.054%	$23.2M	$1.7M	50x	as long as short
Hotstuff EURUSD-PERP	+0.0328%	1h	1.1455	+0.106%	$33K	—	50x	as long as short
Hibachi EUR/USDT-P	+0.0384%	1h	1.1445	+0.021%	$169K	$8.4M	30x	as long as short
Bybit EURUSDUSDTshort	+0.1815%	8h	1.1472	+0.257%	$579K	$309K	100x