Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1300%/8h= −142.4% APRpaid last 24h −0.224%

Price spread now: Bybit against Kraken Futures−0.108%7-day average — · you buy dearer than you sell

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 7 days−0.053%−$5 on $10k

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 −$39 a day on $10k at the current rate, and Bybit is 0.108% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.7% 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_BRETTUSD	0.005795	0.1400	pay 0.0175% / 1h	48m 14s	$44K	$70K	10x
Short	Bybit BRETTUSDT	0.005789	0.0100	get 0.0050% / 4h	1h 48m	$2.1M	$1.8M	25x

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 −0.108%Rate

Funding earned: −$273.01
Price spread: −0.108% → 0.000%: −$10.79
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: −$304.8
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 3 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, 3 min ago	4.32 bp	40.5 bp −$41	139.8 bp −$1,398	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.

BRETT on 14 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
GMX BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005782	−0.229%	—	—	100x	as long as short
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	+0.755%	$61	$854	5.5x	as long as short
BloFin BRETT-USDT	+0.0075%	4h	0.005791	−0.073%	$58K	$166K	50x	as long as short
Hyperliquid BRETT	+0.0100%	1h	0.005799	+0.065%	$310K	$237K	3x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005793	−0.039%	$1.2M	$2.4M	50x	as long as short
Bybit BRETTUSDTshort	+0.0100%	4h	0.005789	−0.108%	$2.1M	$1.8M	25x
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005803	+0.134%	$132K	$253K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005791	−0.073%	$432K	$108K	25x	as long as short
MEXC BRETT_USDT	+0.0100%	4h	0.005793	−0.039%	$12.4M	$208K	200x	as long as short
KuCoin BRETTUSDTM	+0.0100%	4h	0.005803	+0.134%	$326K	$74K	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BRETTUSDT	+0.0100%	4h	0.005784	−0.194%	$1.4M	$624K	50x	as long as short
BingX BRETT-USDT	+0.0100%	4h	0.005795	−0.004%	—	$1.4M	—	as long as short
Variational Omni BRETT	+0.0100%	4h	0.005790	−0.099%	$52K	$102K	—	as long as short
Kraken Futures PF_BRETTUSDlong	+0.1400%	1h	0.005795	long leg	$44K	$70K	10x