Funding you earn now, next payment 07:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h −0.021%
Price spread now: Kraken Futures against Bybit−0.034%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.034% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit USDCUSDT | 1.0001 | 0 | get 0.0000% / 8h | 1h 46m | $9.5M | $272K | 50x |
| Short | Kraken Futures PF_USDCUSD | 0.9998 | −0.0070 | pay 0.0009% / 1h | 46m 46s | $14K | $924 | 50x |
Bybit USDCUSDT
Kraken Futures PF_USDCUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$14.7
- Price spread: −0.034% → 0.000%
- −$3.41
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$39.11
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 1 min ago; Kraken Futures: no order-book sample. Net counts fees only.
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, 1 min ago | 0.50 bp | 6.0 bp −$6 | 7.9 bp −$79 | 449.8 bp −$45.0K | doesn't fit |
| Sell Kraken Futures no order-book sample | — | — | — | — | — |
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
USDC on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin USDCUSDTM | −0.0156% | 8h | 0.9994 | −0.070% | $2.5M | $20K | 30x | as long as short |
| MEXC USDC_USDT | −0.0115% | 8h | 0.9996 | −0.050% | $20.8M | $748K | 200x | as long as short |
| Binance USDCUSDT | −0.0115% | 8h | 0.9996 | −0.050% | $4.8M | $4.3M | 50x | as long as short |
| Bitget USDCUSDT | −0.0096% | 8h | 0.9996 | −0.050% | $4.3M | $8K | 50x | as long as short |
| Kraken Futures PF_USDCUSDshort | −0.0070% | 1h | 0.9998 | −0.034% | $14K | $924 | 50x | |
| Bybit USDCUSDTlong | 0.0000% | 8h | 1.0001 | long leg | $9.5M | $272K | 50x | |
| OKX USDC-USDT-SWAP | 0.0000% | 8h | 1.0000 | −0.011% | $1.1M | $40K | 50x | as long as short |
| Gate USDC_USDT | +0.0100% | 8h | 0.9996 | −0.050% | $253K | $37K | 50x | as long as short |
KuCoin USDCUSDTM
MEXC USDC_USDT
Binance USDCUSDT
Bitget USDCUSDT
OKX USDC-USDT-SWAP
Gate USDC_USDT