Funding arb · Price arb /

DYM

all DYM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.5459%/8h= −597.8% APRpaid last 24h −0.787%

Price spread now: Bybit against Kraken Futures−1.178%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

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 −$164 a day on $10k at the current rate, and Bybit is 1.178% cheaper against Kraken Futures than usual: you would sell low and buy high (−$118 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	Kraken Futures PF_DYMUSD	0.01866	0.5559	pay 0.0695% / 1h	55m 35s	$15K	$4K	10x
Short	Bybit DYMUSDT	0.01844	0.0100	get 0.0050% / 4h	2h 55m	$785K	$530K	25x

Funding 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 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now −1.178%Rate

Funding earned: −$1,146.42
Price spread: −1.178% → 0.000%: −$117.77
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,285.19
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 34 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Bybit live order book, 34 min ago	5.51 bp	137.7 bp −$138	527.6 bp −$5,276	doesn't fit	doesn't fit

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.

DYM on 14 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
dYdX DYM-USD	0.0000%	1h	0.01858	−0.446%	$255	—	5x	as long as short
Injective DYM/USDC PERP	+0.0033%	1h	0.01718	−7.930%	$237	$12K	5.5x	as long as short
Hyperliquid DYM	+0.0100%	1h	0.01846	−1.071%	$371K	$223K	3x	as long as short
Aster DYMUSDT	+0.0100%	4h	0.01848	−0.941%	$76K	$5K	5x	as long as short
Binance DYMUSDT	+0.0100%	4h	0.01846	−1.069%	$2.4M	$4.4M	10x	as long as short
Bybit DYMUSDTshort	+0.0100%	4h	0.01844	−1.178%	$785K	$530K	25x
MEXC DYM_USDT	+0.0100%	4h	0.01847	−1.017%	$1.3M	$493K	20x	as long as short
KuCoin DYMUSDTM	+0.0100%	4h	0.01856	−0.535%	$421K	$96K	25x	as long as short
Bitget DYMUSDT	+0.0100%	4h	0.01847	−1.017%	$516K	$258K	25x	as long as short
BingX DYM-USDT	+0.0100%	4h	0.01849	−0.910%	—	$18.9M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni DYM	+0.0100%	4h	0.01850	−0.875%	$9K	$5K	—	as long as short
Extended DYM-USD	+0.0104%	1h	0.01847	−1.030%	$1K	$367K	5x	as long as short
Gate DYM_USDT	+0.0218%	4h	0.01850	−0.856%	$197K	$126K	25x	as long as short
Kraken Futures PF_DYMUSDlong	+0.5559%	1h	0.01866	long leg	$15K	$4K	10x