Funding you earn now, next payment 07:00 UTC−0.0688%/8h= −75.3% APRpaid last 24h −0.053%
Price spread now: Bybit against Kraken Futures−0.062%55s7-day average −0.190% · you buy dearer than you sell
Net, funding: paid 7d − costs−$1,148as 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−$1,18211.822% of the position
Funding, last 7 days+0.338%+$34 on $10k
+Price spread, last 4 days (all we have)−0.166%−$17 · spread now −0.062%, 7d avg −0.190%
=The price spread pays, funding is against you. Bybit is 0.128% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.062% now, against its 7-day average of −0.190%): +$13 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 15 hours. Mind the row above: over the last 7 days funding on this pair paid +0.338%, so the current rate has only just turned against you. 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 0.338% in total (about 17.6% 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 | Kraken Futures PF_MEWUSD | 0.0004762 | 0.0788 | pay 0.0098% / 1h | 20m 30s | $93K | $135K | 10x |
| Short | Bybit MEWUSDT | 0.0004759 | 0.0100 | get 0.0050% / 4h | 1h 20m | $1.5M | $1.6M | 25x |
Kraken Futures PF_MEWUSD
Bybit MEWUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$144.38
- Price spread: −0.062% → −0.190%
- $12.82
- Slippage, 4 orders
- −$1,161.21
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$1,313.77
- Costs to cover
- 11.822%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 22 min ago; Bybit: live order book, 1 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 Kraken Futures live order book, 22 min ago | 11.64 bp | 1065.4 bp −$1,065 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 4.21 bp | 28.3 bp −$28 | 84.2 bp −$842 | doesn't fit | doesn't fit |
MEW 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 | |
|---|---|---|---|---|---|---|---|---|
| GMX MEW/USD [WBTC.b-USDC] | L 0.0000% / S 0.0000% | 1h | 0.0004750 | −0.251% | — | — | 100x | as long as short |
| Injective MEW/USDC PERP | +0.0033% | 1h | 0.0004219 | −11.402% | $46 | $14K | 5.5x | as long as short |
| Binance MEWUSDT | +0.0100% | 4h | 0.0004763 | +0.018% | $1.3M | $3.6M | 50x | as long as short |
| Bybit MEWUSDTshort | +0.0100% | 4h | 0.0004759 | −0.062% | $1.5M | $1.6M | 25x | |
| OKX MEW-USDT-SWAP | +0.0100% | 4h | 0.0004755 | −0.146% | $547K | $918K | 20x | as long as short |
| Gate MEW_USDT | +0.0100% | 4h | 0.0004760 | −0.041% | $140K | $143K | 50x | as long as short |
| MEXC MEW_USDT | +0.0100% | 4h | 0.0004762 | +0.001% | $377K | $187K | 125x | as long as short |
| KuCoin MEWUSDTM | +0.0100% | 4h | 0.0004764 | +0.043% | $331K | $132K | 30x | as long as short |
| Bitget MEWUSDT | +0.0100% | 4h | 0.0004763 | +0.022% | $486K | $539K | 50x | as long as short |
| BingX MEW-USDT | +0.0100% | 4h | 0.0004759 | −0.062% | — | $6.7M | — | as long as short |
GMX MEW/USD [WBTC.b-USDC]
Injective MEW/USDC PERP
Binance MEWUSDT
OKX MEW-USDT-SWAP
Gate MEW_USDT
MEXC MEW_USDT
KuCoin MEWUSDTM
Bitget MEWUSDT
BingX MEW-USDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MEW | +0.0100% | 4h | 0.0004756 | −0.121% | $84K | $36K | — | as long as short |
| Kraken Futures PF_MEWUSDlong | +0.0788% | 1h | 0.0004762 | long leg | $93K | $135K | 10x |
Variational Omni MEW