Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.021%

Price spread now: Bybit against Kraken Futures+0.059%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Bybit

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 for this trade now. Funding pays +$5 a day on $10k at the current rate, and Bybit is 0.059% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_EURUSD	1.1473	−0.0179	get 0.0022% / 1h	41m 04s	$3K	—	50x
Short	Bybit EURUSDUSDT	1.1480	0	get 0.0000% / 8h	3h 41m	$585K	$223K	100x

Funding 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 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now +0.059%Rate

Funding earned: $37.49
Price spread: +0.059% → 0.000%: $5.94
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $22.44
Costs to cover: 0.210%
Break-even: 2.8 days

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 4 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	3.92 bp	13.0 bp −$13	34.9 bp −$349	doesn't fit	doesn't fit

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
Hibachi EUR/USDT-P	−0.0200%	1h	1.1471	−0.015%	$165K	$8.3M	30x	as long as short
Kraken Futures PF_EURUSDlong	−0.0179%	1h	1.1473	long leg	$3K	—	50x
MEXC EUR_USDT	−0.0138%	4h	1.1477	+0.033%	$6.8M	$132K	100x	as long as short
Lighter EURUSD	0.0000%	1h	1.1485	+0.100%	$2.1M	$415K	50x	as long as short
Bybit EURUSDUSDTshort	0.0000%	8h	1.1480	+0.059%	$585K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1479	+0.051%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1477	+0.033%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1474	+0.007%	$198K	$73K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1482	+0.077%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1482	+0.077%	$12K	$264K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado EURUSD-PERP	+0.0016%	1h	1.1478	+0.041%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1474	+0.008%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.059%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1506	+0.286%	—	$265K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1478	+0.042%	$191K	$63K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1482	+0.076%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0144%	1h	1.1482	+0.077%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0190%	1h	1.1480	+0.059%	$23.3M	$1.7M	50x	as long as short