Funding you earn now, next payment 06:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.003%
Price spread now: Bybit against Kraken Futures−0.028%55s7-day average −0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$220.217% of the position
Funding, last 7 days−0.035%−$3 on $10k
+Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.028%, 7d avg −0.018%
=The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XBTUSD | 85,198 | 0.0056 | pay 0.0007% / 1h | 29m 20s | $187.0M | $955.3M | 100x |
| Short | Bybit BTCUSDT | 85,173.9 | 0.0100 | get 0.0100% / 8h | 2h 29m | $5.15B | $9.93B | 150x |
Kraken Futures PF_XBTUSD
Bybit BTCUSDTFunding 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
- $9.2
- Price spread: −0.028% → −0.018%
- −$1.04
- Slippage, 4 orders
- −$0.7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$13.54
- Costs to cover
- 0.217%
- Break-even
- 17.3 days
Slippage from Kraken Futures: live order book, 5 min ago; Bybit: live order book, 5 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, 5 min ago | 0.12 bp | 5.5 bp −$5 | 6.1 bp −$61 | 7.8 bp −$777 | 10.0 bp −$4,992 |
| Sell Bybit live order book, 5 min ago | 0.01 bp | 5.5 bp −$6 | 5.5 bp −$55 | 6.5 bp −$650 | 8.0 bp −$4,015 |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl BTC | −0.0112% | 43m | 85,184.9 | −0.015% | $524K | $18.4M | 6.7x | as long as short |
| Phoenix BTC | −0.0111% | 1h | 85,204 | +0.007% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,194 | −0.005% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0054% | 8h | 85,174.2 | −0.028% | $921.6M | $763.4M | 125x | as long as short |
| BloFin BTC-USDT | −0.0035% | 8h | 85,135.4 | −0.073% | $420.5M | $678.3M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0024% | 1h | 85,224.1 | +0.031% | $373K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0015% | 8h | 85,181.1 | −0.020% | $512.1M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | +0.0001% | 1h | 85,176.4 | −0.025% | $16.7M | $21.7M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,198.4 | 0.000% | $36.4M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 85,225 | +0.032% | $338K | $26.8M | 52x | as long as short |
Perpl BTC
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERPShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERP | +0.0025% | 1h | 85,187.4 | −0.012% | $24.7M | $222.8M | 50x | as long as short |
| Kraken Futures PF_XBTUSDlong | +0.0056% | 1h | 85,198 | long leg | $187.0M | $955.3M | 100x | |
| BingX BTC-USDC | +0.0066% | 8h | 85,154.5 | −0.051% | — | $17.4M | — | as long as short |
| Phemex BTCUSDT | +0.0078% | 8h | 85,185.6 | −0.015% | $148.6M | $504.5M | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,171.6 | −0.031% | $2.4M | $6.7M | 20x | as long as short |
| Bitget BTCUSDT | +0.0084% | 8h | 85,175 | −0.027% | $2.95B | $5.17B | 150x | as long as short |
| MEXC BTC_USDT | +0.0085% | 8h | 85,190.3 | −0.009% | $5.05B | $5.71B | 500x | as long as short |
| Binance BTCUSDT | +0.0085% | 8h | 85,189.5 | −0.010% | $9.41B | $24.82B | 150x | as long as short |
| Bullet BTC-USD | +0.0089% | 1h | 85,185 | −0.015% | $206K | $3.3M | 20x | as long as short |
| SoDEX BTC-USD | +0.0092% | 1h | 85,173 | −0.029% | $59.6M | $335.8M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,181.5 | −0.019% | $171.2M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,181.7 | −0.019% | $23.7M | $148.3M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,217 | +0.022% | $8.4M | $55.7M | 100x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0096% | 1h | 85,219.8 | +0.026% | $116.9M | $5.35B | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,197 | −0.001% | $239K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,247.1 | +0.058% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,277 | +0.093% | $3.75B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,199.3 | +0.002% | $40.1M | $599.0M | 50x | as long as short |
| Bybit BTCUSDTshort | +0.0100% | 8h | 85,173.9 | −0.028% | $5.15B | $9.93B | 150x | |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,182.4 | −0.018% | $2.58B | $12.16B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,204 | +0.007% | $3.8M | $17.6M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,210.6 | +0.015% | $4.6M | $99.2M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,183.8 | −0.017% | $678.4M | $603.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,188.7 | −0.011% | $5.49B | $10.93B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,175.6 | −0.026% | $36.0M | $174.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,111.9 | −0.101% | $154.3M | $569.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,133.5 | −0.076% | $278.8M | $944.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,139 | −0.069% | $214.0M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,125.3 | −0.085% | $139.1M | $315.2M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,156.3 | −0.049% | $30.0M | $205.4M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,262.4 | +0.076% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,191 | −0.008% | $11.0M | $14.4M | 50x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,178.4 | −0.023% | $2.5M | $9.3M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,215.9 | +0.021% | $217K | $749K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,155.7 | −0.050% | $29.9M | $49.7M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,127.1 | −0.083% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,160.7 | −0.044% | $2.25B | $947.1M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,171.6 | −0.031% | $45.3M | $238.5M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,202.2 | +0.005% | — | $106.8M | 500x | as long as short |
| Reya BTCRUSDPERP | +0.0114% | 1h | 85,192.4 | −0.007% | $6.6M | $147.4M | 40x | as long as short |
| Deribit BTC-PERPETUAL | +0.0122% | 1h | 85,211 | +0.015% | $871.5M | $1.61B | 50x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,189.4 | −0.010% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0180% | 8h | 85,204 | +0.007% | $11.3M | $744.6M | 6.4x | as long as short |
| Aftermath Perps BTCUSD | +0.0209% | 1h | 85,232.8 | +0.041% | $79K | $226K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,202.4 | +0.005% | $717K | $8.0M | 30x | as long as short |
| RISEx BTC/USDC | +0.0257% | 1h | 85,233.7 | +0.042% | $8.6M | $43.1M | 25x | as long as short |
Nado BTC-PERP
BingX BTC-USDC
Phemex BTCUSDT
Aevo BTC-PERP
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Bullet BTC-USD
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Coinbase International BTC-PERP-INTX
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Reya BTCRUSDPERP
Deribit BTC-PERPETUAL
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
RISEx BTC/USDC