Funding arb · Price arb /

COMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0237%/8hpaid last 24h +0.061%

Price spread now: Bybit against Kraken Futures−0.142%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1431.430% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now −0.142%, 7d avg −0.082%

Together, before fees+0.312%+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.060% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.082%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.278%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_COMPUSD	22.329	0.0337	pay 0.0042% / 1h	7m 10s	$210K	$62K	20x
Short	Bybit COMPUSDT	22.297	0.0100	get 0.0100% / 8h	4h 07m	$3.8M	$2.2M	75x

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 −0.142%Rate

Funding earned: −$49.72
Price spread: −0.142% → −0.082%: −$6
Slippage, 4 orders: −$122.03
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$198.76
Costs to cover: 1.430%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 24 min ago; Bybit: live order book, 5 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, 24 min ago	24.36 bp	29.8 bp −$30	239.1 bp −$2,391	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.24 bp	34.5 bp −$35	75.0 bp −$750	doesn't fit	doesn't fit

COMP on 16 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
Deribit COMP_USDC-PERPETUAL	−0.0646%	1h	22.300	−0.129%	$227	$229	50x	as long as short
Injective COMP/USDC PERP	−0.0224%	1h	22.320	−0.039%	$5K	$38K	12x	as long as short
dYdX COMP-USD	0.0000%	1h	22.340	+0.050%	$68K	—	5x	as long as short
Hyperliquid COMP	+0.0100%	1h	22.328	−0.003%	$844K	$562K	5x	as long as short
Binance COMPUSDT	+0.0100%	8h	22.300	−0.129%	$4.2M	$8.4M	75x	as long as short
Bybit COMPUSDTshort	+0.0100%	8h	22.297	−0.142%	$3.8M	$2.2M	75x
OKX COMP-USDT-SWAP	+0.0100%	8h	22.300	−0.129%	$1.6M	$2.4M	20x	as long as short
Gate COMP_USDT	+0.0100%	8h	22.320	−0.039%	$222K	$95K	25x	as long as short
MEXC COMP_USDT	+0.0100%	8h	22.300	−0.129%	$2.9M	$850K	20x	as long as short
KuCoin COMPUSDTM	+0.0100%	8h	22.340	+0.050%	$458K	$109K	30x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget COMPUSDT	+0.0100%	8h	22.310	−0.084%	$1.9M	$781K	75x	as long as short
BingX COMP-USDT	+0.0100%	8h	22.320	−0.039%	—	$36.3M	—	as long as short
Variational Omni COMP	+0.0100%	8h	22.315	−0.062%	$15K	$39K	—	as long as short
BloFin COMP-USDT	+0.0127%	8h	22.310	−0.084%	$242K	$158K	20x	as long as short
Kraken Futures PF_COMPUSDlong	+0.0337%	1h	22.329	long leg	$210K	$62K	20x
Coinbase International COMP-PERP-INTX	+0.0456%	1h	22.200	−0.577%	$17K	$42K	25x	as long as short