Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0263%/8h= −28.8% APRpaid last 24h −0.071%

Price spread now: Kraken Futures against Bybit+0.049%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$800.802% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.328%+$33 on $10k

Price spread, last 3 days (all we have)+0.157%+$16 · spread now +0.049%, 7d avg +0.100%

Together, before fees+0.486%+$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.051% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.100%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.328%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TIAUSDT	0.4364	0.0100	pay 0.0050% / 4h	39m 58s	$9.6M	$13.2M	50x
Short	Kraken Futures PF_TIAUSD	0.4366	−0.0163	pay 0.0020% / 1h	39m 58s	$358K	$245K	50x

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 +0.049%Rate

Funding earned: −$55.21
Price spread: +0.049% → +0.100%: −$5.12
Slippage, 4 orders: −$59.19
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$140.52
Costs to cover: 0.802%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Kraken Futures: live order book, 38 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, 3 min ago	1.14 bp	11.8 bp −$12	30.5 bp −$305	155.8 bp −$15.6K	doesn't fit
Sell Kraken Futures live order book, 38 min ago	14.99 bp	32.6 bp −$33	80.4 bp −$804	doesn't fit	doesn't fit

TIA on 27 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_TIAUSDshort	−0.0163%	1h	0.4366	+0.049%	$358K	$245K	50x
OKX TIA-USDT-SWAP	−0.0154%	4h	0.4362	−0.046%	$2.8M	$6.0M	50x	as long as short
KuCoin TIAUSDTM	−0.0024%	4h	0.4364	0.000%	$4.2M	$8.6M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4367	+0.069%	$30K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4366	+0.052%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0036%	1h	0.4370	+0.137%	$49K	$234K	50x	as long as short
Gate TIA_USDT	+0.0064%	4h	0.4366	+0.046%	$988K	$1.8M	75x	as long as short
Lighter TIA	+0.0096%	1h	0.4371	+0.163%	$140K	$362K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4365	+0.023%	$5K	$363K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4370	+0.144%	$4.3M	$1.5M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4367	+0.074%	$35K	$267K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4366	+0.046%	$14.5M	$42.3M	75x	as long as short
Bybit TIAUSDTlong	+0.0100%	4h	0.4364	long leg	$9.6M	$13.2M	50x
MEXC TIA_USDT	+0.0100%	4h	0.4365	+0.023%	$13.5M	$6.8M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4365	+0.023%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4363	−0.023%	—	$99.1M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4365	+0.034%	$101K	$151K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4364	−0.001%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4382	+0.412%	$66K	$43K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4362	−0.035%	$55K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4365	+0.024%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4363	−0.016%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0208%	1h	0.4389	+0.573%	$51K	$77K	50x	as long as short
Injective TIA/USDC PERP	+0.0210%	1h	0.4368	+0.092%	$26K	$10K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4363	−0.023%	$1.1M	$567K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0459% / S −0.3505%	1h	0.4367	+0.070%	$36K	—	100x	as long as short
dYdX TIA-USD	+0.0633%	1h	0.4366	+0.057%	$52K	$59	10x	as long as short