Funding you earn now, next payment 07:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h −0.140%
Price spread now: Bybit against Kraken Futures−0.110%7-day average −0.066% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs−$94as in the Price arb table
costs, in and out, $10k−$890.891% of the position
Funding, last 7 days+0.037%+$4 on $10k
+Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.110%, 7d avg −0.066%
=Funding pays, the price is against you. Bybit is 0.045% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.110% now, against its 7-day average of −0.066%). If the spread goes back, that is −$4 on $10k: about 15 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.037% in total) that is about 8.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.037% in total (about 1.9% 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 | Kraken Futures PF_GALAUSD | 0.002078 | −0.0140 | get 0.0018% / 1h | 23m 46s | $665K | $230K | 25x |
| Short | Bybit GALAUSDT | 0.002076 | 0.0100 | get 0.0100% / 8h | 1h 23m | $6.0M | $6.0M | 75x |
Kraken Futures PF_GALAUSD
Bybit GALAUSDTFunding 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
- $50.47
- Price spread: −0.110% → −0.066%
- −$4.49
- Slippage, 4 orders
- −$68.08
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$43.1
- Costs to cover
- 0.891%
- Break-even
- 13.0 days
Slippage from Kraken Futures: live order book, 19 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, 19 min ago | 7.26 bp | 30.1 bp −$30 | 113.4 bp −$1,134 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.42 bp | 19.3 bp −$19 | 59.5 bp −$595 | 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_GALAUSDlong | −0.0140% | 1h | 0.002078 | long leg | $665K | $230K | 25x | |
| Injective GALA/USDC PERP | +0.0033% | 1h | 0.002110 | +1.525% | $2K | $7K | 5.5x | as long as short |
| BloFin GALA-USDT | +0.0097% | 8h | 0.002082 | +0.178% | $302K | $66K | 20x | as long as short |
| Hyperliquid GALA | +0.0100% | 1h | 0.002077 | −0.062% | $303K | $145K | 3x | as long as short |
| Aster GALAUSDT | +0.0100% | 8h | 0.002077 | −0.083% | $16K | $8K | 5x | as long as short |
| Binance GALAUSDT | +0.0100% | 8h | 0.002077 | −0.053% | $5.4M | $17.3M | 75x | as long as short |
| Bybit GALAUSDTshort | +0.0100% | 8h | 0.002076 | −0.110% | $6.0M | $6.0M | 75x | |
| OKX GALA-USDT-SWAP | +0.0100% | 8h | 0.002074 | −0.207% | $2.2M | $4.1M | 50x | as long as short |
| Gate GALA_USDT | +0.0100% | 8h | 0.002079 | +0.034% | $1.8M | $1.5M | 75x | as long as short |
| MEXC GALA_USDT | +0.0100% | 8h | 0.002074 | −0.207% | $5.5M | $3.3M | 125x | as long as short |
Injective GALA/USDC PERP
BloFin GALA-USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin GALAUSDTM | +0.0100% | 8h | 0.002074 | −0.207% | $1.7M | $4.8M | 75x | as long as short |
| Bitget GALAUSDT | +0.0100% | 8h | 0.002079 | +0.034% | $2.1M | $1.3M | 75x | as long as short |
| BingX GALA-USDT | +0.0100% | 8h | 0.002078 | −0.014% | — | $13.7M | — | as long as short |
| Variational Omni GALA | +0.0100% | 8h | 0.002079 | +0.040% | $25K | $14K | — | as long as short |
| Extended GALA-USD | +0.0104% | 1h | 0.002076 | −0.134% | $4K | $89K | 5x | as long as short |
KuCoin GALAUSDTM
Bitget GALAUSDT
BingX GALA-USDT
Variational Omni GALA
Extended GALA-USD