Funding arb · Price arb /

AR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1821%/8h= +199.4% APRpaid last 24h −0.396%

Price spread now: Kraken Futures against Bybit+0.161%7-day average +0.172% · you sell dearer than you buy

Net, funding: paid 7d − costs−$340as in the Funding arb table

Net, price: spread back to 7d avg − costs−$199as in the Price arb table

costs, in and out, $10k−$1981.976% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.424%−$142 on $10k

Price spread, last 3 days (all we have)−0.197%−$20 · spread now +0.161%, 7d avg +0.172%

Together, before fees−1.621%−$162 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.172%, so right now this pair is about funding alone: +$55 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −1.424%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ARUSDT	4.5430	0.0100	pay 0.0100% / 8h	5h 54m	$4.7M	$8.4M	75x
Short	Kraken Futures PF_ARUSD	4.5503	0.1921	get 0.0240% / 1h	54m 44s	$56K	$149K	20x

Funding 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 it

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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.161%Rate

Funding earned: $382.47
Price spread: +0.161% → +0.172%: −$1.07
Slippage, 4 orders: −$176.63
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $183.78
Costs to cover: 1.976%
Break-even: 3.6 days

Slippage from Bybit: live order book, 3 min ago; Kraken Futures: live order book, 8 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	2.21 bp	45.7 bp −$46	152.2 bp −$1,522	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 8 min ago	28.49 bp	46.1 bp −$46	doesn't fit	doesn't fit	doesn't fit

AR on 16 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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.5376	−0.120%	$584K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0096%	8h	4.5390	−0.088%	$2.3M	$19.0M	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.6110	+1.497%	$2K	$2K	5.5x	as long as short
Extended AR-USD	+0.0080%	1h	4.5382	−0.106%	$37K	$237K	10x	as long as short
MEXC AR_USDT	+0.0082%	8h	4.5400	−0.066%	$6.5M	$4.1M	100x	as long as short
Binance ARUSDT	+0.0085%	8h	4.5407	−0.051%	$9.1M	$51.9M	75x	as long as short
Hyperliquid AR	+0.0100%	1h	4.5458	+0.062%	$4.1M	$4.5M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.5453	+0.051%	$19K	$500K	10x	as long as short
Bybit ARUSDTlong	+0.0100%	8h	4.5430	long leg	$4.7M	$8.4M	75x
Gate AR_USDT	+0.0100%	8h	4.5420	−0.022%	$2.5M	$1.9M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.5450	+0.044%	$1.2M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5360	−0.154%	$3.9M	$5.3M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.5410	−0.044%	—	$2.8M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5667	+0.523%	$235K	$259K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5370	−0.132%	$20K	$725K	50x	as long as short
Kraken Futures PF_ARUSDshort	+0.1921%	1h	4.5503	+0.161%	$56K	$149K	20x