Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0062%/8h= −6.8% APRpaid last 24h −0.028%

Price spread now: Kraken Futures against Bybit−0.064%7-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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.064% cheaper against Bybit than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EURUSDUSDT	1.1480	0	get 0.0000% / 8h	4h 11m	$585K	$223K	100x
Short	Kraken Futures PF_EURUSD	1.1473	−0.0062	pay 0.0008% / 1h	11m 24s	$3K	—	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 −0.064%Rate

Funding earned: −$12.96
Price spread: −0.064% → 0.000%: −$6.36
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: −$40.32
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 39 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, 39 min ago	4.49 bp	19.7 bp −$20	45.9 bp −$459	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.

EUR on 18 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
MEXC EUR_USDT	−0.0162%	4h	1.1478	−0.019%	$6.8M	$135K	100x	as long as short
Hibachi EUR/USDT-P	−0.0104%	1h	1.1472	−0.073%	$165K	$8.2M	30x	as long as short
Kraken Futures PF_EURUSDshort	−0.0062%	1h	1.1473	−0.064%	$3K	—	50x
Nado EURUSD-PERP	−0.0008%	1h	1.1477	−0.027%	$467K	$153K	40x	as long as short
Bybit EURUSDUSDTlong	0.0000%	8h	1.1480	long leg	$585K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1478	−0.019%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1477	−0.028%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1474	−0.054%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1481	+0.007%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1479	−0.010%	$13K	$263K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter EURUSD	+0.0008%	1h	1.1484	+0.034%	$2.1M	$435K	50x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1474	−0.057%	$6.7M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0039%	1h	1.1466	−0.120%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1506	+0.222%	—	$264K	100x	as long as short
Hotstuff EURUSD-PERP	+0.0056%	1h	1.1481	+0.007%	$33K	—	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1478	−0.019%	$190K	$61K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1481	+0.007%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0124%	1h	1.1481	+0.007%	$23.3M	$1.8M	50x	as long as short