Funding arb · Price arb /

GMT

all GMT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1457%/8h= −159.5% APRpaid last 24h −0.301%

Price spread now: Kraken Futures against Bybit+0.125%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Kraken Futures

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

The price spread pays, funding is against you. Kraken Futures is 0.125% dearer against Bybit than usual: you sell high and buy low (spread +0.125% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$44 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GMTUSDT	0.008515	0.0100	pay 0.0100% / 8h	7h 26m	$1.1M	$1.2M	50x
Short	Kraken Futures PF_GMTUSD	0.008526	−0.1357	pay 0.0170% / 1h	26m 51s	$46K	$11K	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 +0.125%Rate

Funding earned: −$305.94
Price spread: +0.125% → 0.000%: $12.45
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$314.49
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; Kraken Futures: no order-book sample. 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 Bybit live order book, 4 min ago	4.71 bp	40.7 bp −$41	302.2 bp −$3,022	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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.

GMT 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_GMTUSDshort	−0.1357%	1h	0.008526	+0.125%	$46K	$11K	20x
Hyperliquid GMT	+0.0100%	1h	0.008512	−0.035%	$127K	$127K	3x	as long as short
Aster GMTUSDT	+0.0100%	4h	0.008512	−0.036%	$8K	$14K	10x	as long as short
Binance GMTUSDT	+0.0100%	4h	0.008518	+0.031%	$2.7M	$3.3M	50x	as long as short
Bybit GMTUSDTlong	+0.0100%	8h	0.008515	long leg	$1.1M	$1.2M	50x
OKX GMT-USDT-SWAP	+0.0100%	4h	0.008512	−0.035%	$356K	$613K	20x	as long as short
Gate GMT_USDT	+0.0100%	8h	0.008510	−0.059%	$147K	$110K	50x	as long as short
MEXC GMT_USDT	+0.0100%	4h	0.008519	+0.047%	$419K	$187K	20x	as long as short
KuCoin GMTUSDTM	+0.0100%	4h	0.008510	−0.059%	$254K	$100K	50x	as long as short
Bitget GMTUSDT	+0.0100%	4h	0.008518	+0.035%	$693K	$417K	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GMT-USDT	+0.0100%	4h	0.008516	+0.012%	—	$1.2M	—	as long as short
Variational Omni GMT	+0.0100%	8h	0.008480	−0.415%	$3K	$5K	—	as long as short