Funding you earn now, next payment 23:00 UTC+0.2039%/8h= +223.3% APRpaid last 24h +0.366%
Price spread now: Bybit against Kraken Futures−0.271%7-day average −0.168% · you buy dearer than you sell
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$177as in the Price arb table
costs, in and out, $10k−$1671.669% of the position
Funding, last 7 days+1.364%+$136 on $10k
+Price spread, last 3 days (all we have)+0.859%+$86 · spread now −0.271%, 7d avg −0.168%
=Funding pays, the price is against you. Bybit is 0.102% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.271% now, against its 7-day average of −0.168%). If the spread goes back, that is −$10 on $10k: about 4 hours of funding at the current rate (+$61 a day). At the pace of the last 7 days (+1.364% in total) that is about 13 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.364% in total (about 71.1% 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_ARUSD | 4.4626 | −0.1939 | get 0.0242% / 1h | 59m 17s | $46K | $155K | 20x |
| Short | Bybit ARUSDT | 4.4505 | 0.0100 | get 0.0100% / 8h | 1h 59m | $4.6M | $8.9M | 75x |
Kraken Futures PF_ARUSD
Bybit ARUSDTFunding 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
- $428.16
- Price spread: −0.271% → −0.168%
- −$10.22
- Slippage, 4 orders
- −$145.93
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $251.02
- Costs to cover
- 1.669%
- Break-even
- 2.9 days
Slippage from Kraken Futures: live order book, 23 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, 23 min ago | 32.26 bp | 40.3 bp −$40 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.25 bp | 44.7 bp −$45 | 154.9 bp −$1,549 | doesn't fit | doesn't fit |
AR on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ARUSDlong | −0.1939% | 1h | 4.4626 | long leg | $46K | $155K | 20x | |
| GMX AR/USD [WBTC.b-USDC] | L −0.0140% / S +0.0551% | 1h | 4.4520 | −0.237% | $572K | — | 50x | as long as short |
| Injective AR/USDC PERP | +0.0033% | 1h | 4.5720 | +2.452% | $3K | $339 | 5.5x | as long as short |
| Hyperliquid AR | +0.0100% | 1h | 4.4538 | −0.197% | $3.8M | $4.8M | 5x | as long as short |
| Aster ARUSDT | +0.0100% | 8h | 4.4535 | −0.204% | $20K | $621K | 10x | as long as short |
| Binance ARUSDT | +0.0100% | 8h | 4.4493 | −0.298% | $8.7M | $55.8M | 75x | as long as short |
| Bybit ARUSDTshort | +0.0100% | 8h | 4.4505 | −0.271% | $4.6M | $8.9M | 75x | |
| OKX AR-USDT-SWAP | +0.0100% | 8h | 4.4440 | −0.416% | $2.2M | $20.4M | 20x | as long as short |
| Gate AR_USDT | +0.0100% | 8h | 4.4480 | −0.327% | $2.5M | $2.3M | 50x | as long as short |
| MEXC AR_USDT | +0.0100% | 8h | 4.4480 | −0.327% | $6.7M | $4.5M | 100x | as long as short |
GMX AR/USD [WBTC.b-USDC]
Injective AR/USDC PERP
Hyperliquid AR
Aster ARUSDT
Binance ARUSDT
OKX AR-USDT-SWAP
Gate AR_USDT
MEXC AR_USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ARUSDTM | +0.0100% | 8h | 4.4480 | −0.327% | $1.4M | $1.1M | 50x | as long as short |
| Bitget ARUSDT | +0.0100% | 8h | 4.4460 | −0.371% | $3.8M | $5.6M | 75x | as long as short |
| BingX AR-USDT | +0.0100% | 8h | 4.4470 | −0.349% | — | $2.9M | — | as long as short |
| Variational Omni AR | +0.0100% | 8h | 4.4423 | −0.453% | $135K | $174K | — | as long as short |
| ApeX Omni ARUSDT | +0.0100% | 1h | 4.4440 | −0.416% | $56K | $748K | 50x | as long as short |
| Extended AR-USD | +0.0104% | 1h | 4.4498 | −0.285% | $36K | $237K | 10x | as long as short |
| BloFin AR-USDT | +0.0220% | 8h | 4.4500 | −0.282% | $419K | $666K | 20x | as long as short |
KuCoin ARUSDTM
Bitget ARUSDT
BingX AR-USDT
Variational Omni AR
ApeX Omni ARUSDT
Extended AR-USD
BloFin AR-USDT