Funding arb · Price arb /

GRT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0484%/8h= +53.0% APRpaid last 24h +0.719%

Price spread now: Kraken Futures against Bybit+0.351%55s7-day average +0.295% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,340as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1,37013.701% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.299%+$30 on $10k

Price spread, last 4 days (all we have)−0.045%−$4 · spread now +0.351%, 7d avg +0.295%

Together, before fees+0.254%+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Kraken Futures is 0.056% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.295%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.299% in total (about 15.6% 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 GRTUSDT	0.02330	0.0100	pay 0.0100% / 8h	1h 23m	$2.8M	$2.2M	75x
Short	Kraken Futures PF_GRTUSD	0.02338	0.0584	get 0.0073% / 1h	23m 26s	$277K	$68K	20x

Funding 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 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.351%Rate

Funding earned: $101.71
Price spread: +0.351% → +0.295%: $5.62
Slippage, 4 orders: −$1,349.06
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,262.73
Costs to cover: 13.701%
Break-even: 93.9 days

Slippage from Bybit: live order book, 4 min ago; Kraken Futures: live order book, 19 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, 4 min ago	4.31 bp	20.2 bp −$20	47.3 bp −$473	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 19 min ago	19.43 bp	45.1 bp −$45	doesn't fit	doesn't fit	doesn't fit

GRT on 13 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
Variational Omni GRT	−0.0062%	8h	0.02327	−0.125%	$88K	$125K	—	as long as short
gTrade (Gains Network) GRT/USD	L +0.0024% / S +0.0001%	1h	0.02329	−0.023%	$637	—	150x	as long as short
Injective GRT/USDC PERP	+0.0033%	1h	0.02217	−4.850%	—	$8K	5.5x	as long as short
Binance GRTUSDT	+0.0100%	8h	0.02331	+0.050%	$3.5M	$8.2M	75x	as long as short
Bybit GRTUSDTlong	+0.0100%	8h	0.02330	long leg	$2.8M	$2.2M	75x
OKX GRT-USDT-SWAP	+0.0100%	8h	0.02332	+0.086%	$635K	$750K	20x	as long as short
Gate GRT_USDT	+0.0100%	8h	0.02334	+0.172%	$439K	$422K	50x	as long as short
MEXC GRT_USDT	+0.0100%	8h	0.02331	+0.043%	$1.8M	$1.1M	200x	as long as short
KuCoin GRTUSDTM	+0.0100%	8h	0.02333	+0.129%	$1.0M	$688K	50x	as long as short
Bitget GRTUSDT	+0.0100%	8h	0.02332	+0.086%	$2.4M	$654K	75x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GRT-USDT	+0.0100%	8h	0.02334	+0.172%	—	$2.5M	—	as long as short
BloFin GRT-USDT	+0.0123%	8h	0.02330	0.000%	$171K	$214K	75x	as long as short
Kraken Futures PF_GRTUSDshort	+0.0584%	1h	0.02338	+0.351%	$277K	$68K	20x