Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0478%/8h= +52.3% APRpaid last 24h 0.000%

Price spread now: Bybit against Kraken Futures+0.218%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 +$14 a day on $10k at the current rate, and Bybit is 0.218% dearer against Kraken Futures than usual: you sell high and buy low: +$22 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_GBPUSD	1.3343	0	get 0.0000% / 1h	43m 22s	$989	—	20x
Short	Bybit GBPUSDUSDT	1.3372	0.0478	get 0.0478% / 8h	7h 43m	$270K	$67K	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 +0.218%Rate

Funding earned: $100.29
Price spread: +0.218% → 0.000%: $21.77
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: $101.07
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 37 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, 37 min ago	0.04 bp	5.5 bp −$6	28.1 bp −$281	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.

GBP on 13 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
Hibachi GBP/USDT-P	−0.0064%	1h	1.3350	+0.049%	$22K	$45K	20x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3345	+0.010%	$192K	$982K	50x	as long as short
Gate GBPUSD_USDT	0.0000%	8h	1.3380	+0.275%	$223K	$10K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3350	+0.050%	$12K	$9K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3356	+0.095%	—	$2.3M	10x	as long as short
Kraken Futures PF_GBPUSDlong	0.0000%	1h	1.3343	long leg	$989	—	20x
HTX GBPUSD-USDT	0.0000%	1h	1.3387	+0.327%	$5K	$336K	20x	as long as short
Nado GBPUSD-PERP	+0.0011%	1h	1.3352	+0.067%	$16K	$1K	40x	as long as short
Vest GBP-USD-PERP	+0.0039%	1h	1.3341	−0.017%	—	$5K	100x	as long as short
tradeXYZ xyz:GBP	+0.0045%	1h	1.3354	+0.080%	$248K	$354K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC GBP_USDT	+0.0170%	4h	1.3352	+0.065%	$26.0M	$252K	100x	as long as short
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3504	+1.201%	$11K	$72K	101x	as long as short
Bybit GBPUSDUSDTshort	+0.0478%	8h	1.3372	+0.218%	$270K	$67K	100x