Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.6091%/8h= +666.9% APRpaid last 24h +0.725%

Price spread now: Kraken Futures against Bybit−0.004%54s7-day average — · you buy dearer than you sell

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$183 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NOTUSDT	0.0005049	0.0100	pay 0.0050% / 4h	1h 04m	$2.1M	$819K	25x
Short	Kraken Futures PF_NOTUSD	0.0005049	0.6191	get 0.0774% / 1h	4m 20s	$49K	$10K	10x

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 −0.004%Rate

Funding earned: $1,279.06
Price spread: −0.004% → 0.000%: −$0.37
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: $1,257.69
Costs to cover: 0.210%
Break-even: 0.1 days

Slippage unknown: Bybit: live order book, 7 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, 7 min ago	3.97 bp	28.6 bp −$29	126.9 bp −$1,269	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.

NOT on 16 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
Variational Omni NOT	−0.0110%	4h	0.0005041	−0.152%	$71K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.466%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0073%	4h	0.0005045	−0.079%	$110K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005065	+0.319%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005060	+0.218%	$370K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005051	+0.032%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005054	+0.099%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDTlong	+0.0100%	4h	0.0005049	long leg	$2.1M	$819K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005052	+0.059%	$615K	$588K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005050	+0.020%	$140K	$79K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005054	+0.099%	$1.4M	$471K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005047	−0.040%	$460K	$138K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005049	0.000%	$663K	$387K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005049	0.000%	—	$722K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005055	+0.112%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSDshort	+0.6191%	1h	0.0005049	−0.004%	$49K	$10K	10x