Funding you earn now, next payment 04:00 UTC+0.1577%/8h= +172.7% APRpaid last 24h +0.088%
Price spread now: Kraken Futures against Bybit+0.318%7-day average +0.222% · you sell dearer than you buy
Net, funding: paid 7d − costs−$240as in the Funding arb table
Net, price: spread back to 7d avg − costs−$248as in the Price arb table
costs, in and out, $10k−$2582.580% of the position
Funding, last 7 days+0.177%+$18 on $10k
+Price spread, last 4 days (all we have)−0.502%−$50 · spread now +0.318%, 7d avg +0.222%
=Both sides work for this trade now. Funding pays +$47 a day on $10k at the current rate, and Kraken Futures is 0.096% dearer against Bybit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.222%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.177% in total (about 9.2% 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 | Bybit WUSDT | 0.01188 | 0.0100 | pay 0.0050% / 4h | 15m 09s | $4.2M | $1.9M | 50x |
| Short | Kraken Futures PF_WUSD | 0.01192 | 0.1677 | get 0.0210% / 1h | 15m 09s | $148K | $184K | 20x |
Bybit WUSDT
Kraken Futures PF_WUSDFunding 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
- $331.13
- Price spread: +0.318% → +0.222%
- $9.56
- Slippage, 4 orders
- −$236.98
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $82.71
- Costs to cover
- 2.580%
- Break-even
- 5.3 days
Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 42 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, 2 min ago | 1.68 bp | 27.4 bp −$27 | 357.2 bp −$3,572 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 42 min ago | 13.91 bp | 62.1 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0506% | 1h | 0.01189 | +0.093% | $16K | $3K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +1.733% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01191 | +0.219% | $2.0M | $341K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01190 | +0.144% | $3.0M | $6.4M | 50x | as long as short |
| Bybit WUSDTlong | +0.0100% | 4h | 0.01188 | long leg | $4.2M | $1.9M | 50x | |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01189 | +0.034% | $1.3M | $1.9M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01188 | −0.076% | $449K | $230K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01190 | +0.135% | $12.9M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01189 | +0.050% | $385K | $207K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01190 | +0.135% | $1.3M | $573K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01189 | +0.034% | — | $6.8M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01187 | −0.097% | $72K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01190 | +0.119% | $128K | $414K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01190 | +0.164% | $62K | $233K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0360% | 1h | 0.01192 | +0.261% | $14K | $15K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.0966% | 1h | 0.01192 | +0.269% | $44K | $43K | 15x | as long as short |
| Kraken Futures PF_WUSDshort | +0.1677% | 1h | 0.01192 | +0.318% | $148K | $184K | 20x |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP