Settings8H · net · $10k
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LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG671.29−0.0486get 0.0061% / 1h51m 04s$454K$771K20xLong Kraken Futures
SHORT675.39+0.1268get 0.1268% / 8h7h 51m$30.2M$101.1M100xShort Bybit
Price gap+0.611%
Funding gap+0.1753% /8h

Both sides work: funding pays +$53 a day on $10k, and the gap is 0.442% above its 7d average: +$44 more if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$24+0.1753% /8h now · paid −0.236% over the last 7D
Price+$44spread +0.611% now, avg +0.169% → +0.442% if it goes back
Costs−$840.837% of $10k · taker + slippage, in and out
Result−$63−0.63%no points

The current funding rate is far above what this pair has been paying: over the last 7 days it paid −0.236% in total, about −0.0112%/8h on average.

Price and funding

1h · history
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.611%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

MU on 47 exchanges

lowest funding first

Before you open

1 ok · 4 to watch
  • Watch: Thin at this size30.1 / 11.6 bp
    At $10k entering Kraken Futures costs 30.1 bp, fee and slippage, 2.6× Bybit’s.
  • Note: Margin at max leverage$500 + $100
    Kraken Futures 20x, Bybit 100x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • Watch: Payment intervals differ1h / 8h
    Payments land at different times. Close right after the slower leg pays.
    Next 24h at the current rates, on $10k a leg: +$52.60Long Kraken Futures: 24 payments, +$14.57; short Bybit: 3 payments, +$38.03.
  • OK: Entry gap works for you+0.611% vs +0.169%
    You short the dearer leg. If the gap goes back to average, the short gains.
  • Watch: Long leg is thinner$454K vs $30.2M OI
    Kraken Futures sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCKraken Futures Yes · Bybit Yes
    Full verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0112%/8h × 21 periods−$23.58
Price spread+0.611% → +0.169% (7d avg)+$44.23
Slippage, 4 orderslive order books−$62.68
Fee Kraken Futures bp × 2 orders−$10.00
Fee Bybit bp × 2 orders−$11.00
Net · 7 days · $10k−$63.03
Costs to cover0.837%Break-evennever at this rate
Slippage: Kraken Futures: live order book, 30 min ago; Bybit: live order book, 6 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGKraken Futures22.9730.1 bp−$3063.6 bp−$636doesn’t fitdoesn’t fit
SELL · SHORTBybit0.8211.6 bp−$1219.6 bp−$19644.7 bp−$4,469doesn’t fit

Closing costs about the same again.

Alert

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