Funding arb · Price arb /

EGLD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.2604%/8h= −285.1% APRpaid last 24h −0.182%

Price spread now: Kraken Futures against Bybit+0.340%7-day average +0.214% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1311.307% 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−0.453%−$45 on $10k

Price spread, last 3 days (all we have)+0.007%+$1 · spread now +0.340%, 7d avg +0.214%

Together, before fees−0.446%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.126% dearer against Bybit than usual: you sell high and buy low (spread +0.340% now, against its 7-day average of +0.214%): +$13 on $10k if it goes back. Holding the pair costs −$78 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.453% in total) that is about 47 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.453% in total (about -23.6% 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 EGLDUSDT	4.3850	0.0100	pay 0.0100% / 8h	7h 51m	$2.7M	$8.9M	75x
Short	Kraken Futures PF_EGLDUSD	4.3999	−0.2504	pay 0.0313% / 1h	51m 15s	$440K	$719K	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 +0.340%Rate

Funding earned: −$546.74
Price spread: +0.340% → +0.214%: $12.61
Slippage, 4 orders: −$109.73
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$664.87
Costs to cover: 1.307%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 22 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, 2 min ago	6.81 bp	22.3 bp −$22	93.6 bp −$936	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 22 min ago	19.63 bp	45.8 bp −$46	doesn't fit	doesn't fit	doesn't fit

EGLD on 12 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_EGLDUSDshort	−0.2504%	1h	4.3999	+0.340%	$440K	$719K	20x
Injective EGLD/USDC PERP	+0.0033%	1h	3.6600	−16.534%	$16	$46K	5.5x	as long as short
Binance EGLDUSDT	+0.0100%	8h	4.3870	+0.046%	$4.8M	$27.2M	75x	as long as short
Bybit EGLDUSDTlong	+0.0100%	8h	4.3850	long leg	$2.7M	$8.9M	75x
OKX EGLD-USDT-SWAP	+0.0100%	8h	4.3870	+0.046%	$630K	$5.3M	20x	as long as short
Gate EGLD_USDT	+0.0100%	8h	4.4000	+0.342%	$522K	$675K	30x	as long as short
MEXC EGLD_USDT	+0.0100%	8h	4.3870	+0.046%	$4.3M	$3.4M	125x	as long as short
KuCoin EGLDUSDTM	+0.0100%	8h	4.4030	+0.410%	$2.7M	$1.4M	50x	as long as short
Bitget EGLDUSDT	+0.0100%	8h	4.3940	+0.205%	$2.3M	$4.3M	75x	as long as short
BingX EGLD-USDT	+0.0100%	8h	4.3950	+0.228%	—	$2.9M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni EGLD	+0.0100%	8h	4.3828	−0.050%	$17K	$56K	—	as long as short
BloFin EGLD-USDT	+0.0220%	8h	4.4030	+0.410%	$226K	$474K	75x	as long as short