Funding arb · Price arb /

HBAR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.066%

Price spread now: Bitget against Kraken Futures−0.047%58s7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as 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−$500.498% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.197%−$20 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.047%, 7d avg −0.082%

Together, before fees−0.165%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.035% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.047% now, against its 7-day average of −0.082%): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.197% in total) that is about 30 hours. The two prices were read 58 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 -0.197% in total (about -10.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_HBARUSD	0.09347	0.0428	pay 0.0053% / 1h	6m 20s	$1.4M	$3.9M	50x
Short	Bitget HBARUSDT	0.09343	0.0100	get 0.0100% / 8h	5h 06m	$17.6M	$19.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$68.79
Price spread: −0.047% → −0.082%: $3.49
Slippage, 4 orders: −$27.81
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$115.11
Costs to cover: 0.498%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Bitget: live order book, just now.

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, 1 min ago	4.82 bp	14.3 bp −$14	21.9 bp −$219	doesn't fit	doesn't fit
Sell Bitget live order book, just now	0.54 bp	9.5 bp −$10	20.6 bp −$206	61.4 bp −$6,141	doesn't fit

HBAR on 28 exchanges

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	−0.0072%	1h	0.08777	−6.103%	$4K	$101K	12x	as long as short
gTrade (Gains Network) HBAR/USD	L +0.0007% / S −0.0008%	1h	0.09347	−0.004%	$10K	—	150x	as long as short
Orderly PERP_HBAR_USDC	+0.0092%	8h	0.09339	−0.090%	$4K	$11K	10x	as long as short
Lighter HBAR	+0.0096%	1h	0.09338	−0.101%	$570K	$559K	5x	as long as short
Hyperliquid HBAR	+0.0100%	1h	0.09356	+0.087%	$8.5M	$4.3M	5x	as long as short
Aster HBARUSDT	+0.0100%	8h	0.09350	+0.031%	$200K	$372K	50x	as long as short
Binance HBARUSDT	+0.0100%	8h	0.09342	−0.057%	$34.9M	$114.6M	75x	as long as short
Bybit HBARUSDT	+0.0100%	8h	0.09340	−0.080%	$32.4M	$38.7M	75x	as long as short
OKX HBAR-USDT-SWAP	+0.0100%	8h	0.09342	−0.058%	$6.5M	$27.0M	50x	as long as short
Gate HBAR_USDT	+0.0100%	8h	0.09348	+0.006%	$2.6M	$3.9M	75x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC HBAR_USDT	+0.0100%	8h	0.09345	−0.026%	$27.2M	$20.7M	200x	as long as short
KuCoin HBARUSDTM	+0.0100%	8h	0.09346	−0.015%	$6.9M	$7.3M	75x	as long as short
Bitget HBARUSDTshort	+0.0100%	8h	0.09343	−0.047%	$17.6M	$19.6M	75x
BingX HBAR-USDC	+0.0100%	8h	0.09343	−0.047%	—	$6.8M	—	as long as short
Backpack HBAR_USDC_PERP	+0.0100%	1h	0.09337	−0.112%	$35K	$204K	15x	as long as short
Variational Omni HBAR	+0.0100%	8h	0.09335	−0.132%	$1.0M	$99K	—	as long as short
GRVT HBAR_USDT_Perp	+0.0100%	8h	0.09348	+0.008%	$379K	$3.8M	10x	as long as short
ApeX Omni HBARUSDT	+0.0100%	1h	0.09350	+0.027%	$151K	$703K	50x	as long as short
SoDEX HBAR-USD	+0.0100%	1h	0.09340	−0.080%	$434	$5K	5x	as long as short
HTX HBAR-USDT	+0.0100%	8h	0.09368	+0.220%	$71K	$69K	20x	as long as short
Phemex HBARUSDT	+0.0100%	8h	0.09342	−0.058%	$2.4M	$3.3M	50x	as long as short
Extended HBAR-USD	+0.0104%	1h	0.09331	−0.175%	$50K	$306K	10x	as long as short
Deribit HBAR_USDC-PERPETUAL	+0.0178%	1h	0.09348	+0.006%	$525K	$223K	50x	as long as short
Coinbase International HBAR-PERP-INTX	+0.0192%	1h	0.09349	+0.017%	$225K	$3.0M	50x	as long as short
BloFin HBAR-USDT	+0.0220%	8h	0.09342	−0.058%	$1.5M	$5.9M	90x	as long as short
GMX HBAR/USD [WBTC.b-USDC]	L +0.0369% / S −0.0377%	1h	0.09346	−0.020%	$77K	—	100x	as long as short
Kraken Futures PF_HBARUSDlong	+0.0428%	1h	0.09347	long leg	$1.4M	$3.9M	50x
dYdX HBAR-USD	+0.0963%	1h	0.09338	−0.100%	$40K	$21K	5x	as long as short