Funding arb · Price arb /

ATH

all ATH markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1909%/8h= −209.0% APRpaid last 24h +1.050%

Price spread now: Kraken Futures against Bybit+0.218%7-day average +0.252% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.218%, 7d avg +0.252%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$57 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 its 7-day average of +0.252%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.129%, 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 0.129% in total (about 6.7% 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 ATHUSDT	0.005476	0.0100	pay 0.0050% / 4h	16m 06s	$4.3M	$2.7M	25x
Short	Kraken Futures PF_ATHUSD	0.005488	−0.1809	pay 0.0226% / 1h	16m 06s	$17K	$109K	10x

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 +0.218%Rate

Funding earned: −$400.83
Price spread: +0.218% → +0.252%: −$3.4
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: −$425.23
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Kraken Futures: live order book, 21 min ago. 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, 2 min ago	5.47 bp	34.4 bp −$34	163.9 bp −$1,639	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 21 min ago	4.55 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

ATH on 13 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
Kraken Futures PF_ATHUSDshort	−0.1809%	1h	0.005488	+0.218%	$17K	$109K	10x
Variational Omni ATH	−0.0100%	4h	0.005462	−0.255%	$183K	$93K	—	as long as short
dYdX ATH-USD	0.0000%	1h	0.005490	+0.256%	$11K	$59	5x	as long as short
BloFin ATH-USDT	+0.0078%	4h	0.005496	+0.365%	$162K	$70K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005490	+0.249%	$4K	$42K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005487	+0.201%	$3.2M	$4.3M	50x	as long as short
Bybit ATHUSDTlong	+0.0100%	4h	0.005476	long leg	$4.3M	$2.7M	25x
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005478	+0.037%	$701K	$1.3M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005483	+0.128%	$783K	$619K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005488	+0.219%	$8.9M	$680K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005480	+0.073%	$549K	$79K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005484	+0.146%	$1.5M	$898K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005484	+0.146%	—	$21.3M	—	as long as short