Funding you earn now, next payment 23:00 UTC−0.0167%/8h= −18.3% APRpaid last 24h +0.065%
Price spread now: Bybit against Kraken Futures−0.115%7-day average −0.088% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$91as in the Price arb table
costs, in and out, $10k−$890.885% of the position
Funding, last 7 days+0.328%+$33 on $10k
+Price spread, last 3 days (all we have)+0.281%+$28 · spread now −0.115%, 7d avg −0.088%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bybit is 0.028% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.088%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.328%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ICPUSD | 2.9814 | 0.0224 | pay 0.0028% / 1h | 49m 16s | $488K | $512K | 50x |
| Short | Bybit ICPUSDT | 2.9780 | 0.0057 | get 0.0057% / 8h | 1h 49m | $17.2M | $17.7M | 75x |
Kraken Futures PF_ICPUSD
Bybit ICPUSDTFunding 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
- −$35.16
- Price spread: −0.115% → −0.088%
- −$2.77
- Slippage, 4 orders
- −$67.54
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$126.47
- Costs to cover
- 0.885%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 34 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, 34 min ago | 8.36 bp | 41.6 bp −$42 | 125.0 bp −$1,250 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 1.68 bp | 10.5 bp −$11 | 30.3 bp −$303 | 542.7 bp −$54.3K | doesn't fit |
ICP on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex ICPUSDT | −0.1223% | 8h | 2.9720 | −0.317% | $1.7M | $779K | 50x | as long as short |
| Deribit ICP_USDC-PERPETUAL | −0.0220% | 1h | 2.9801 | −0.045% | $266 | $464 | 50x | as long as short |
| Variational Omni ICP | −0.0207% | 8h | 2.9767 | −0.157% | $1.1M | $121K | — | as long as short |
| Injective ICP/USDC PERP | −0.0152% | 1h | 2.9665 | −0.501% | $202 | $200K | 12x | as long as short |
| Gate ICP_USDT | −0.0113% | 8h | 2.9780 | −0.115% | $1.9M | $2.7M | 50x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 2.9807 | −0.025% | $69K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0010% | 1h | 2.9797 | −0.058% | $27K | — | 150x | as long as short |
| Bybit ICPUSDTshort | +0.0057% | 8h | 2.9780 | −0.115% | $17.2M | $17.7M | 75x | |
| Lighter ICP | +0.0096% | 1h | 2.9829 | +0.049% | $166K | $441K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 2.9800 | −0.049% | $184K | $1.4M | 20x | as long as short |
Phemex ICPUSDT
Deribit ICP_USDC-PERPETUAL
Variational Omni ICP
Injective ICP/USDC PERP
Gate ICP_USDT
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Lighter ICP
Aster ICPUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ICP | +0.0100% | 1h | 2.9778 | −0.121% | $135K | $11K | 5x | as long as short |
| Binance ICPUSDT | +0.0100% | 8h | 2.9791 | −0.080% | $28.9M | $49.4M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9770 | −0.149% | $5.8M | $15.7M | 50x | as long as short |
| MEXC ICP_USDT | +0.0100% | 8h | 2.9770 | −0.149% | $19.2M | $8.5M | 50x | as long as short |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9770 | −0.149% | $5.1M | $13.0M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9800 | −0.048% | $6.8M | $4.4M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9780 | −0.115% | — | $4.9M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9786 | −0.094% | $23K | $278K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9784 | −0.102% | $570K | $469K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9770 | −0.149% | $2K | $1.7M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9790 | −0.082% | $106K | $218K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 2.9785 | −0.098% | $25K | $124K | 10x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9760 | −0.182% | $1.2M | $2.2M | 75x | as long as short |
| Kraken Futures PF_ICPUSDlong | +0.0224% | 1h | 2.9814 | long leg | $488K | $512K | 50x | |
| Coinbase International ICP-PERP-INTX | +0.0240% | 1h | 2.9860 | +0.153% | $63K | $90K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0433% / S −0.0367% | 1h | 2.9786 | −0.094% | $31K | — | 100x | as long as short |
| Hyperliquid ICP | +0.0550% | 1h | 2.9833 | +0.062% | $4.7M | $5.0M | 5x | as long as short |
Pacifica ICP
Binance ICPUSDT
OKX ICP-USDT-SWAP
MEXC ICP_USDT
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]
Hyperliquid ICP