Funding you earn now, next payment 04:00 UTC−0.0384%/8h= −42.0% APRpaid last 24h +0.125%
Price spread now: Kraken Futures against Bybit+0.175%7-day average +0.070% · you sell dearer than you buy
Net, funding: paid 7d − costs−$109as in the Funding arb table
Net, price: spread back to 7d avg − costs−$93as in the Price arb table
costs, in and out, $10k−$1031.032% of the position
Funding, last 7 days−0.055%−$6 on $10k
+Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.175%, 7d avg +0.070%
=The price spread pays, funding is against you. Kraken Futures is 0.104% dearer against Bybit than usual: you sell high and buy low (spread +0.175% now, against its 7-day average of +0.070%): +$10 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 7 days (−0.055% in total) that is about 13 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.055% in total (about -2.9% 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 | Bybit GALAUSDT | 0.002100 | 0.0100 | pay 0.0100% / 8h | 4h 12m | $6.1M | $6.3M | 75x |
| Short | Kraken Futures PF_GALAUSD | 0.002104 | −0.0284 | pay 0.0035% / 1h | 12m 41s | $664K | $178K | 25x |
Bybit GALAUSDT
Kraken Futures PF_GALAUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. 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
- −$80.58
- Price spread: +0.175% → +0.070%
- $10.44
- Slippage, 4 orders
- −$82.16
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$173.29
- Costs to cover
- 1.032%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Kraken Futures: live order book, 45 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 Bybit live order book, 5 min ago | 2.39 bp | 16.4 bp −$16 | 48.6 bp −$486 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 45 min ago | 12.03 bp | 36.1 bp −$36 | 78.0 bp −$780 | doesn't fit | doesn't fit |
GALA on 15 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_GALAUSDshort | −0.0284% | 1h | 0.002104 | +0.175% | $664K | $178K | 25x | |
| KuCoin GALAUSDTM | −0.0045% | 8h | 0.002101 | +0.048% | $1.8M | $5.3M | 75x | as long as short |
| Injective GALA/USDC PERP | +0.0033% | 1h | 0.002110 | +0.476% | $2K | $7K | 5.5x | as long as short |
| Hyperliquid GALA | +0.0100% | 1h | 0.002100 | 0.000% | $308K | $160K | 3x | as long as short |
| Aster GALAUSDT | +0.0100% | 8h | 0.002101 | +0.026% | $17K | $11K | 5x | as long as short |
| Binance GALAUSDT | +0.0100% | 8h | 0.002101 | +0.048% | $5.5M | $17.1M | 75x | as long as short |
| Bybit GALAUSDTlong | +0.0100% | 8h | 0.002100 | long leg | $6.1M | $6.3M | 75x | |
| OKX GALA-USDT-SWAP | +0.0100% | 8h | 0.002101 | +0.048% | $2.2M | $4.1M | 50x | as long as short |
| Gate GALA_USDT | +0.0100% | 8h | 0.002102 | +0.095% | $1.8M | $1.3M | 75x | as long as short |
| MEXC GALA_USDT | +0.0100% | 8h | 0.002101 | +0.048% | $5.9M | $3.4M | 125x | as long as short |
KuCoin GALAUSDTM
Injective GALA/USDC PERP
Hyperliquid GALA
Aster GALAUSDT
Binance GALAUSDT
OKX GALA-USDT-SWAP
Gate GALA_USDT
MEXC GALA_USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget GALAUSDT | +0.0100% | 8h | 0.002101 | +0.048% | $2.2M | $1.2M | 75x | as long as short |
| BingX GALA-USDT | +0.0100% | 8h | 0.002101 | +0.048% | — | $11.1M | — | as long as short |
| Variational Omni GALA | +0.0100% | 8h | 0.002093 | −0.327% | $25K | $21K | — | as long as short |
| Extended GALA-USD | +0.0104% | 1h | 0.002100 | +0.019% | $574 | $145K | 5x | as long as short |
| BloFin GALA-USDT | +0.0118% | 8h | 0.002097 | −0.143% | $309K | $68K | 20x | as long as short |
Bitget GALAUSDT
BingX GALA-USDT
Variational Omni GALA
Extended GALA-USD
BloFin GALA-USDT