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: BingX against KuCoin−0.053%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$199as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1841.843% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.053%, 7d avg +0.021%

Together, before fees−0.059%−$6 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: BingX is 0.075% cheaper against KuCoin than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 2ZUSDTM	0.05236	0.0100	pay 0.0050% / 4h	26m 24s	$193K	$53K	50x
Short	BingX 2Z-USDT	0.05233	0.0100	get 0.0050% / 4h	26m 24s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now −0.053%Rate

Funding earned: $0
Price spread: −0.053% → +0.021%: −$7.45
Slippage, 4 orders: −$162.32
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$191.77
Costs to cover: 1.843%
Break-even: never at this rate

Slippage from KuCoin: live order book, 54 min ago; BingX: live order book, 9 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 KuCoin live order book, 54 min ago	14.13 bp	56.8 bp −$57	609.7 bp −$6,097	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	6.74 bp	27.6 bp −$28	88.1 bp −$881	699.2 bp −$69.9K	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	0.05228	−0.149%	$46K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.886%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05238	+0.042%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05234	−0.034%	$676K	$367K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05234	−0.039%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05234	−0.029%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05230	−0.111%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05233	−0.053%	$690K	$978K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05234	−0.034%	$450K	$723K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05229	−0.130%	$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	0.05233	−0.053%	$293K	$126K	50x	as long as short
KuCoin 2ZUSDTMlong	+0.0100%	4h	0.05236	long leg	$193K	$53K	50x
Bitget 2ZUSDT	+0.0100%	4h	0.05231	−0.092%	$157K	$635K	50x	as long as short
BingX 2Z-USDTshort	+0.0100%	4h	0.05233	−0.053%	—	$6.5M	—
Variational Omni 2Z	+0.0100%	4h	0.05225	−0.205%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05231	−0.092%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0797%	1h	0.05239	+0.061%	$5K	$3K	10x	as long as short