Funding arb · Price arb /

HBAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0373%/8hnext payment −$0.47 per $10,000 · paid last 24h −0.131%

Price spread now: ApeX Omni against Kraken Futures−0.249%45s7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as 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−$510.511% of the position

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.179%−$18 on $10k

Price spread, last 3 days (all we have)+0.208%+$21 · spread now −0.249%, 7d avg −0.049%

Together, before fees+0.029%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and ApeX Omni is 0.200% cheaper against Kraken Futures than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.049%). Swap the legs. The two prices were read 45 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 -0.179% in total (about -9.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.47 per $10,000. 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_HBARUSD	0.09075	0.0473	pay 0.0059% / 1h	21m 30s	$1.4M	$2.4M	50x
Short	ApeX Omni HBARUSDT	0.09052	0.0100	get 0.0013% / 1h	21m 30s	$145K	$702K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ApeX OmnibpOrdersPrice spread, now −0.249%Rate

Funding earned: −$78.27
Price spread: −0.249% → −0.049%: −$19.97
Slippage, 4 orders: −$31.09
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$149.34
Costs to cover: 0.511%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; ApeX Omni: live order book, 11 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, 2 min ago	4.95 bp	12.0 bp −$12	19.3 bp −$193	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 11 min ago	4.41 bp	12.7 bp −$13	94.4 bp −$944	doesn't fit	doesn't fit

HBAR on 28 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
Injective HBAR/USDC PERP	−0.0825%	1h	0.08533	−5.968%	$2K	$60K	12x	as long as short
Gate HBAR_USDT	−0.0073%	8h	0.09066	−0.095%	$2.4M	$3.7M	75x	as long as short
Deribit HBAR_USDC-PERPETUAL	0.0000%	1h	0.09071	−0.039%	$499K	$152K	50x	as long as short
gTrade (Gains Network) HBAR/USD	L +0.0007% / S −0.0014%	1h	0.09072	−0.031%	$8K	—	150x	as long as short
MEXC HBAR_USDT	+0.0022%	8h	0.09067	−0.084%	$23.2M	$24.0M	200x	as long as short
Binance HBARUSDT	+0.0023%	8h	0.09066	−0.095%	$34.5M	$110.9M	75x	as long as short
Extended HBAR-USD	+0.0024%	1h	0.09064	−0.115%	$46K	$205K	10x	as long as short
KuCoin HBARUSDTM	+0.0026%	8h	0.09061	−0.150%	$7.3M	$8.3M	75x	as long as short
Variational Omni HBAR	+0.0041%	8h	0.09036	−0.420%	$997K	$205K	—	as long as short
GRVT HBAR_USDT_Perp	+0.0058%	8h	0.09081	+0.074%	$377K	$1.8M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_HBAR_USDC	+0.0069%	8h	0.09065	−0.106%	$3K	$17K	10x	as long as short
BloFin HBAR-USDT	+0.0091%	8h	0.09072	−0.028%	$1.5M	$5.6M	90x	as long as short
Lighter HBAR	+0.0096%	1h	0.09063	−0.128%	$556K	$590K	5x	as long as short
Coinbase International HBAR-PERP-INTX	+0.0096%	1h	0.09067	−0.084%	$214K	$2.2M	50x	as long as short
Hyperliquid HBAR	+0.0100%	1h	0.09070	−0.047%	$8.7M	$3.0M	5x	as long as short
Aster HBARUSDT	+0.0100%	8h	0.09063	−0.128%	$212K	$442K	50x	as long as short
Bybit HBARUSDT	+0.0100%	8h	0.09065	−0.106%	$32.4M	$37.3M	75x	as long as short
OKX HBAR-USDT-SWAP	+0.0100%	8h	0.09066	−0.095%	$6.8M	$24.5M	50x	as long as short
Bitget HBARUSDT	+0.0100%	8h	0.09067	−0.084%	$16.7M	$14.6M	75x	as long as short
BingX HBAR-USDT	+0.0100%	8h	0.09068	−0.073%	—	$5.8M	—	as long as short
Backpack HBAR_USDC_PERP	+0.0100%	1h	0.09066	−0.095%	$30K	$132K	15x	as long as short
ApeX Omni HBARUSDTshort	+0.0100%	1h	0.09052	−0.249%	$145K	$702K	50x
SoDEX HBAR-USD	+0.0100%	1h	0.09063	−0.128%	$421	$6K	5x	as long as short
HTX HBAR-USDT	+0.0100%	8h	0.09082	+0.082%	$71K	$53K	20x	as long as short
Phemex HBARUSDT	+0.0100%	8h	0.09065	−0.106%	$2.2M	$2.2M	50x	as long as short
GMX HBAR/USD [WBTC.b-USDC]	L +0.0438% / S −0.0472%	1h	0.09068	−0.069%	$101K	—	100x	as long as short
Kraken Futures PF_HBARUSDlong	+0.0473%	1h	0.09075	long leg	$1.4M	$2.4M	50x
dYdX HBAR-USD	+0.0966%	1h	0.09068	−0.073%	$29K	$4K	5x	as long as short