Funding you earn now, next payment 04:00 UTC−0.0886%/8h= −97.1% APRpaid last 24h −0.100%
Price spread now: Bybit against Kraken Futures−0.275%7-day average −0.184% · you buy dearer than you sell
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$128as in the Price arb table
costs, in and out, $10k−$1191.187% of the position
Funding, last 7 days+0.498%+$50 on $10k
+Price spread, last 4 days (all we have)+0.176%+$18 · spread now −0.275%, 7d avg −0.184%
=Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Bybit is 0.091% cheaper against Kraken Futures than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.184%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.498%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.498% in total (about 26.0% 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_RUNEUSD | 0.6358 | 0.0986 | pay 0.0123% / 1h | 15m 05s | $179K | $288K | 20x |
| Short | Bybit RUNEUSDT | 0.6341 | 0.0100 | get 0.0100% / 8h | 4h 15m | $2.8M | $2.8M | 75x |
Kraken Futures PF_RUNEUSD
Bybit RUNEUSDTFunding 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
- −$186.15
- Price spread: −0.275% → −0.184%
- −$9.12
- Slippage, 4 orders
- −$97.75
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$314.02
- Costs to cover
- 1.187%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 43 min ago; Bybit: live order book, 2 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, 43 min ago | 11.04 bp | 25.0 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 4.72 bp | 34.8 bp −$35 | 67.3 bp −$673 | doesn't fit | doesn't fit |
RUNE 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective RUNE/USDC PERP | +0.0033% | 1h | 0.6155 | −3.200% | $7 | $14 | 12x | as long as short |
| dYdX RUNE-USD | +0.0048% | 1h | 0.6348 | −0.168% | $27K | $32K | 5x | as long as short |
| Deribit RUNE_USDC-PERPETUAL | +0.0065% | 1h | 0.6351 | −0.118% | — | — | 10x | as long as short |
| BloFin RUNE-USDT | +0.0073% | 8h | 0.6347 | −0.181% | $445K | $195K | 75x | as long as short |
| Binance RUNEUSDT | +0.0100% | 8h | 0.6345 | −0.211% | $4.8M | $15.8M | 75x | as long as short |
| Bybit RUNEUSDTshort | +0.0100% | 8h | 0.6341 | −0.275% | $2.8M | $2.8M | 75x | |
| Gate RUNE_USDT | +0.0100% | 8h | 0.6346 | −0.196% | $629K | $369K | 50x | as long as short |
| MEXC RUNE_USDT | +0.0100% | 8h | 0.6350 | −0.133% | $3.5M | $3.5M | 125x | as long as short |
| KuCoin RUNEUSDTM | +0.0100% | 8h | 0.6351 | −0.118% | $912K | $334K | 50x | as long as short |
| Bitget RUNEUSDT | +0.0100% | 8h | 0.6354 | −0.070% | $1.6M | $775K | 50x | as long as short |
Injective RUNE/USDC PERP
dYdX RUNE-USD
Deribit RUNE_USDC-PERPETUAL
BloFin RUNE-USDT
Binance RUNEUSDT
Gate RUNE_USDT
MEXC RUNE_USDT
KuCoin RUNEUSDTM
Bitget RUNEUSDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RUNE-USDT | +0.0100% | 8h | 0.6351 | −0.118% | — | $58.9M | — | as long as short |
| Variational Omni RUNE | +0.0100% | 8h | 0.6347 | −0.182% | $187K | $67K | — | as long as short |
| Extended RUNE-USD | +0.0104% | 1h | 0.6349 | −0.148% | $4K | $164K | 10x | as long as short |
| Coinbase International RUNE-PERP-INTX | +0.0680% | 1h | 0.6386 | +0.433% | $37K | $30K | 25x | as long as short |
| Kraken Futures PF_RUNEUSDlong | +0.0986% | 1h | 0.6358 | long leg | $179K | $288K | 20x | |
| Hyperliquid RUNE | +0.1804% | 1h | 0.6361 | +0.046% | $1.8M | $1.1M | 5x | as long as short |
BingX RUNE-USDT
Variational Omni RUNE
Extended RUNE-USD
Coinbase International RUNE-PERP-INTX
Hyperliquid RUNE