Funding you earn now, next payment 01:00 UTC−0.0739%/8h= −81.0% APRpaid last 24h −0.214%
Price spread now: Kraken Futures against Bybit−0.130%7-day average −0.129% · you buy dearer than you sell
Net, funding: paid 7d − costs−$133as in the Funding arb table
Net, price: spread back to 7d avg − costs−$156as in the Price arb table
costs, in and out, $10k−$1561.564% of the position
Funding, last 7 days+0.237%+$24 on $10k
+Price spread, last 3 days (all we have)−0.169%−$17 · spread now −0.130%, 7d avg −0.129%
=The price spread sits at its 7-day average of −0.129%, so right now this pair is about funding alone: −$22 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.237%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.237% in total (about 12.4% 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 USUALUSDT | 0.01381 | 0.0100 | pay 0.0050% / 4h | 3h 52m | $1.0M | $814K | 25x |
| Short | Kraken Futures PF_USUALUSD | 0.01379 | −0.0639 | pay 0.0080% / 1h | 52m 35s | $112K | $18K | 10x |
Bybit USUALUSDT
Kraken Futures PF_USUALUSDFunding 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
- −$155.27
- Price spread: −0.130% → −0.129%
- −$0.13
- Slippage, 4 orders
- −$135.36
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$311.76
- Costs to cover
- 1.564%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; Kraken Futures: live order book, 20 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, 3 min ago | 5.42 bp | 36.7 bp −$37 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 20 min ago | 31.67 bp | 40.0 bp −$40 | doesn't fit | doesn't fit | doesn't fit |
USUAL on 11 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 USUAL/USDC PERP | −0.4996% | 1h | 0.01366 | −1.086% | $6K | $2K | 5.5x | as long as short |
| Kraken Futures PF_USUALUSDshort | −0.0639% | 1h | 0.01379 | −0.130% | $112K | $18K | 10x | |
| Hyperliquid USUAL | +0.0100% | 1h | 0.01381 | 0.000% | $397K | $195K | 3x | as long as short |
| Binance USUALUSDT | +0.0100% | 4h | 0.01379 | −0.148% | $2.2M | $3.4M | 50x | as long as short |
| Bybit USUALUSDTlong | +0.0100% | 4h | 0.01381 | long leg | $1.0M | $814K | 25x | |
| Gate USUAL_USDT | +0.0100% | 8h | 0.01383 | +0.145% | $935K | $211K | 50x | as long as short |
| MEXC USUAL_USDT | +0.0100% | 4h | 0.01380 | −0.072% | $6.0M | $242K | 100x | as long as short |
| KuCoin USUALUSDTM | +0.0100% | 4h | 0.01383 | +0.145% | $274K | $62K | 20x | as long as short |
| Bitget USUALUSDT | +0.0100% | 4h | 0.01381 | 0.000% | $832K | $455K | 50x | as long as short |
| BingX USUAL-USDT | +0.0100% | 4h | 0.01382 | +0.094% | — | $1.2M | — | as long as short |
Injective USUAL/USDC PERP
Hyperliquid USUAL
Binance USUALUSDT
Gate USUAL_USDT
MEXC USUAL_USDT
KuCoin USUALUSDTM
Bitget USUALUSDT
BingX USUAL-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni USUAL | +0.0100% | 4h | 0.01385 | +0.298% | $10K | $208 | — | as long as short |
Variational Omni USUAL