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 −0.003%

Price spread now: Bybit against KuCoin+0.031%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$175as in the Price arb table

costs, in and out, $10k−$1711.710% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.675%−$67 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now +0.031%, 7d avg +0.071%

Together, before fees−0.771%−$77 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: Bybit is 0.041% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 2ZUSDTM	0.05231	0.0100	pay 0.0050% / 4h	1h 14m	$193K	$52K	50x
Short	Bybit 2ZUSDT	0.05233	0.0100	get 0.0050% / 4h	1h 14m	$686K	$974K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → +0.071%: −$4.09
Slippage, 4 orders: −$148.05
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$175.13
Costs to cover: 1.710%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Bybit: live order book, 31 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, 5 min ago	14.13 bp	56.8 bp −$57	609.7 bp −$6,097	doesn't fit	doesn't fit
Sell Bybit live order book, 31 min ago	3.86 bp	19.4 bp −$19	386.4 bp −$3,864	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	−0.0379%	1h	0.05227	−0.084%	$46K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.806%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05239	+0.145%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05233	+0.031%	$676K	$373K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05233	+0.035%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05232	+0.010%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05230	−0.027%	$2.1M	$2.3M	50x	as long as short
Bybit 2ZUSDTshort	+0.0100%	4h	0.05233	+0.031%	$686K	$974K	50x
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05229	−0.046%	$451K	$712K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05226	−0.103%	$91K	$69K	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	0.05232	+0.011%	$296K	$125K	50x	as long as short
KuCoin 2ZUSDTMlong	+0.0100%	4h	0.05231	long leg	$193K	$52K	50x
Bitget 2ZUSDT	+0.0100%	4h	0.05234	+0.050%	$159K	$633K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05233	+0.031%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05240	+0.164%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05233	+0.031%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.2477%	1h	0.05244	+0.233%	$6K	$3K	10x	as long as short