Funding you earn now, next payment 21:00 UTC+0.0296%/8h= +32.4% APRpaid last 24h +0.012%
Price spread now: Kraken Futures against Bybit−0.051%55s7-day average +0.062% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as 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−$430.427% of the position
Funding, last 7 days−0.036%−$4 on $10k
+Price spread, last 3 days (all we have)+0.087%+$9 · spread now −0.051%, 7d avg +0.062%
=Funding pays, the price is against you. Kraken Futures is 0.113% cheaper against Bybit than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.062%). If the spread goes back, that is −$11 on $10k: about 31 hours of funding at the current rate (+$9 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.036% in total (about -1.9% 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 FILUSDT | 0.9779 | −0.0160 | get 0.0160% / 8h | 3h 31m | $15.8M | $17.0M | 25x |
| Short | Kraken Futures PF_FILUSD | 0.9774 | 0.0136 | get 0.0017% / 1h | 31m 22s | $1.4M | $2.3M | 50x |
Bybit FILUSDT
Kraken Futures PF_FILUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $62.12
- Price spread: −0.051% → +0.062%
- −$11.33
- Slippage, 4 orders
- −$21.7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $8.09
- Costs to cover
- 0.427%
- Break-even
- 6.1 days
Slippage from Bybit: live order book, 3 min ago; Kraken Futures: live order book, 3 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 | 0.51 bp | 10.3 bp −$10 | 31.4 bp −$314 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 2.05 bp | 15.2 bp −$15 | 34.9 bp −$349 | doesn't fit | doesn't fit |
FIL on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit FIL_USDC-PERPETUAL | −0.0670% | 1h | 0.9775 | −0.041% | $168K | $22K | 25x | as long as short |
| Coinbase International FIL-PERP-INTX | −0.0352% | 1h | 0.9770 | −0.092% | $324K | $1.9M | 50x | as long as short |
| Injective FIL/USDC PERP | −0.0196% | 1h | 0.9658 | −1.237% | $2K | $118K | 12x | as long as short |
| Bybit FILUSDTlong | −0.0160% | 8h | 0.9779 | long leg | $15.8M | $17.0M | 25x | |
| Variational Omni FIL | −0.0114% | 8h | 0.9744 | −0.362% | $428K | $271K | — | as long as short |
| Lighter FIL | −0.0064% | 1h | 0.9763 | −0.164% | $156K | $359K | 5x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9784 | +0.046% | $24K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9772 | −0.069% | $57K | $2K | 10x | as long as short |
| Bitget FILUSDT | +0.0005% | 8h | 0.9778 | −0.010% | $10.8M | $22.7M | 75x | as long as short |
| OKX FIL-USDT-SWAP | +0.0041% | 8h | 0.9780 | +0.010% | $18.0M | $98.9M | 50x | as long as short |
Deribit FIL_USDC-PERPETUAL
Coinbase International FIL-PERP-INTX
Injective FIL/USDC PERP
Variational Omni FIL
Lighter FIL
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Bitget FILUSDT
OKX FIL-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin FILUSDTM | +0.0069% | 8h | 0.9776 | −0.031% | $7.3M | $7.3M | 50x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9777 | −0.026% | $8.6M | $9.5M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9775 | −0.043% | $484K | $545K | 20x | as long as short |
| Binance FILUSDT | +0.0100% | 8h | 0.9779 | 0.000% | $55.9M | $178.9M | 75x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9780 | +0.010% | $7.8M | $16.9M | 50x | as long as short |
| MEXC FIL_USDC | +0.0100% | 8h | 0.9770 | −0.092% | $249K | $104K | 50x | as long as short |
| BingX FIL-USDT | +0.0100% | 8h | 0.9777 | −0.020% | — | $11.8M | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9754 | −0.252% | $45K | $294K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9754 | −0.259% | $283K | $772K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9750 | −0.297% | $42K | $197K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9792 | +0.132% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9770 | −0.092% | $2K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9784 | +0.051% | $467 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9774 | −0.051% | $621K | $5.7M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9770 | −0.092% | $1.1M | $2.2M | 50x | as long as short |
| Extended FIL-USD | +0.0104% | 1h | 0.9767 | −0.119% | $682K | $2.4M | 10x | as long as short |
| Kraken Futures PF_FILUSDshort | +0.0136% | 1h | 0.9774 | −0.051% | $1.4M | $2.3M | 50x | |
| BloFin FIL-USDT | +0.0220% | 8h | 0.9754 | −0.256% | $2.6M | $587K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0604% / S −0.0671% | 1h | 0.9783 | +0.039% | $171K | — | 100x | as long as short |
KuCoin FILUSDTM
Hyperliquid FIL
Aster FILUSDT
Binance FILUSDT
Gate FIL_USDT
MEXC FIL_USDC
BingX FIL-USDT
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT
Extended FIL-USD
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]