Funding you earn now, next payment 21:00 UTC+0.0219%/8h= +24.0% APRpaid last 24h +0.065%
Price spread now: Kraken Futures against Bybit+0.224%55s7-day average +0.064% · you sell dearer than you buy
Net, funding: paid 7d − costs−$120as 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−$1091.093% of the position
Funding, last 7 days−0.106%−$11 on $10k
+Price spread, last 3 days (all we have)+0.025%+$2 · spread now +0.224%, 7d avg +0.064%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.160% dearer against Bybit than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.064%. Mind the row above: over the last 7 days funding on this pair cost −0.106%, so the current rate has only just turned in your favour. 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 -0.106% in total (about -5.5% 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 GALAUSDT | 0.002121 | 0.0100 | pay 0.0100% / 8h | 3h 31m | $6.1M | $6.6M | 75x |
| Short | Kraken Futures PF_GALAUSD | 0.002126 | 0.0319 | get 0.0040% / 1h | 31m 17s | $662K | $153K | 25x |
Bybit GALAUSDT
Kraken Futures PF_GALAUSDFunding 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
- $45.93
- Price spread: +0.224% → +0.064%
- $16.05
- Slippage, 4 orders
- −$88.34
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$47.36
- Costs to cover
- 1.093%
- Break-even
- 14.2 days
Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 17 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 | 2.37 bp | 17.4 bp −$17 | 59.1 bp −$591 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 17 min ago | 9.59 bp | 28.6 bp −$29 | 67.4 bp −$674 | doesn't fit | doesn't fit |
GALA on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective GALA/USDC PERP | +0.0033% | 1h | 0.002110 | −0.519% | $2K | $7K | 5.5x | as long as short |
| BloFin GALA-USDT | +0.0086% | 8h | 0.002109 | −0.566% | $314K | $76K | 20x | as long as short |
| Hyperliquid GALA | +0.0100% | 1h | 0.002124 | +0.141% | $317K | $187K | 3x | as long as short |
| Aster GALAUSDT | +0.0100% | 8h | 0.002123 | +0.101% | $17K | $10K | 5x | as long as short |
| Binance GALAUSDT | +0.0100% | 8h | 0.002123 | +0.094% | $5.5M | $18.0M | 75x | as long as short |
| Bybit GALAUSDTlong | +0.0100% | 8h | 0.002121 | long leg | $6.1M | $6.6M | 75x | |
| OKX GALA-USDT-SWAP | +0.0100% | 8h | 0.002121 | 0.000% | $2.3M | $4.5M | 50x | as long as short |
| Gate GALA_USDT | +0.0100% | 8h | 0.002124 | +0.141% | $1.8M | $1.2M | 75x | as long as short |
| MEXC GALA_USDT | +0.0100% | 8h | 0.002123 | +0.094% | $6.1M | $3.6M | 125x | as long as short |
| KuCoin GALAUSDTM | +0.0100% | 8h | 0.002120 | −0.047% | $1.8M | $6.6M | 75x | as long as short |
Injective GALA/USDC PERP
BloFin GALA-USDT
Hyperliquid GALA
Aster GALAUSDT
Binance GALAUSDT
OKX GALA-USDT-SWAP
Gate GALA_USDT
MEXC GALA_USDT
KuCoin GALAUSDTMShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget GALAUSDT | +0.0100% | 8h | 0.002121 | 0.000% | $2.1M | $1.3M | 75x | as long as short |
| BingX GALA-USDT | +0.0100% | 8h | 0.002123 | +0.094% | — | $11.4M | — | as long as short |
| Variational Omni GALA | +0.0100% | 8h | 0.002110 | −0.541% | $26K | $21K | — | as long as short |
| Extended GALA-USD | +0.0104% | 1h | 0.002122 | +0.032% | $3K | $156K | 5x | as long as short |
| Kraken Futures PF_GALAUSDshort | +0.0319% | 1h | 0.002126 | +0.224% | $662K | $153K | 25x |
Bitget GALAUSDT
BingX GALA-USDT
Variational Omni GALA
Extended GALA-USD