Funding you earn now, next payment 03:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.016%
Price spread now: Kraken Futures against Bybit−0.035%55s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.035% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 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 USDCUSDT | 1.0001 | 0 | get 0.0000% / 8h | 5h 55m | $9.5M | $340K | 50x |
| Short | Kraken Futures PF_USDCUSD | 0.9998 | −0.0097 | pay 0.0012% / 1h | 55m 28s | $14K | $930 | 50x |
Bybit USDCUSDT
Kraken Futures PF_USDCUSDFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$20.31
- Price spread: −0.035% → 0.000%
- −$3.48
- 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
- −$44.79
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 3 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, 3 min ago | 0.50 bp | 6.0 bp −$6 | 7.3 bp −$73 | 439.5 bp −$43.9K | 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.
USDC on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget USDCUSDT | −0.0188% | 8h | 0.9994 | −0.070% | $4.3M | $17K | 50x | as long as short |
| Binance USDCUSDT | −0.0158% | 8h | 0.9995 | −0.059% | $4.6M | $4.4M | 50x | as long as short |
| MEXC USDC_USDT | −0.0158% | 8h | 0.9995 | −0.059% | $19.4M | $580K | 200x | as long as short |
| KuCoin USDCUSDTM | −0.0103% | 8h | 0.9994 | −0.070% | $2.5M | $20K | 30x | as long as short |
| Kraken Futures PF_USDCUSDshort | −0.0097% | 1h | 0.9998 | −0.035% | $14K | $930 | 50x | |
| Gate USDC_USDT | −0.0079% | 8h | 0.9992 | −0.090% | $253K | $39K | 50x | as long as short |
| Bybit USDCUSDTlong | 0.0000% | 8h | 1.0001 | long leg | $9.5M | $340K | 50x | |
| OKX USDC-USDT-SWAP | 0.0000% | 8h | 1.0001 | −0.004% | $1.1M | $42K | 50x | as long as short |
Bitget USDCUSDT
Binance USDCUSDT
MEXC USDC_USDT
KuCoin USDCUSDTM
Gate USDC_USDT
OKX USDC-USDT-SWAP