Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Binance−0.040%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$1771.774% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 4 days (all we have)+0.120%+$12 · spread now −0.040%, 7d avg +0.046%

Together, before fees+0.246%+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.086% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 2ZUSDT	0.05233	0.0100	pay 0.0050% / 4h	25m 28s	$2.1M	$2.2M	50x
Short	KuCoin 2ZUSDTM	0.05231	0.0100	get 0.0050% / 4h	25m 28s	$193K	$53K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Binance. 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 BinancebpFee KuCoinbpOrdersPrice spread, now −0.040%Rate

Funding earned: $0
Price spread: −0.040% → +0.046%: −$8.58
Slippage, 4 orders: −$155.38
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$185.96
Costs to cover: 1.774%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; KuCoin: live order book, 55 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 Binance live order book, 9 min ago	2.89 bp	22.8 bp −$23	153.4 bp −$1,534	doesn't fit	doesn't fit
Sell KuCoin live order book, 55 min ago	14.13 bp	71.4 bp −$71	604.1 bp −$6,041	doesn't fit	doesn't fit

2Z 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
Backpack 2Z_USDC_PERP	−0.0674%	1h	0.05226	−0.134%	$46K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.835%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05242	+0.172%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05237	+0.086%	$676K	$367K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05234	+0.026%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05233	−0.002%	$75K	$14K	3x	as long as short
Binance 2ZUSDTlong	+0.0100%	4h	0.05233	long leg	$2.1M	$2.2M	50x
Bybit 2ZUSDT	+0.0100%	4h	0.05235	+0.038%	$691K	$979K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05238	+0.096%	$450K	$724K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05228	−0.096%	$91K	$65K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05238	+0.096%	$293K	$126K	50x	as long as short
KuCoin 2ZUSDTMshort	+0.0100%	4h	0.05231	−0.040%	$193K	$53K	50x
Bitget 2ZUSDT	+0.0100%	4h	0.05233	0.000%	$153K	$635K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05234	+0.019%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05234	+0.010%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05232	−0.019%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0798%	1h	0.05237	+0.074%	$5K	$3K	10x	as long as short