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: OKX against KuCoin+0.102%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs−$174as in the Price arb table

costs, in and out, $10k−$1851.853% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.229%−$23 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.102%, 7d avg −0.007%

Together, before fees−0.334%−$33 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: OKX is 0.109% dearer against KuCoin than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 2ZUSDTM	0.05186	0.0100	pay 0.0050% / 4h	2h 03m	$191K	$52K	50x
Short	OKX 2Z-USDT-SWAP	0.05191	0.0100	get 0.0050% / 4h	2h 03m	$445K	$704K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.102%Rate

Funding earned: $0
Price spread: +0.102% → −0.007%: $10.91
Slippage, 4 orders: −$163.26
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$174.35
Costs to cover: 1.853%
Break-even: never at this rate

Slippage from KuCoin: live order book, 32 min ago; OKX: live order book, 63 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, 32 min ago	10.69 bp	40.9 bp −$41	583.9 bp −$5,839	doesn't fit	doesn't fit
Sell OKX live order book, 63 min ago	3.82 bp	35.0 bp −$35	doesn't fit	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	−0.0544%	1h	0.05188	+0.044%	$45K	$32K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−3.967%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05194	+0.160%	$16K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05189	+0.069%	$662K	$371K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05192	+0.122%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05191	+0.094%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05185	−0.013%	$2.1M	$2.3M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05189	+0.064%	$682K	$953K	50x	as long as short
OKX 2Z-USDT-SWAPshort	+0.0100%	4h	0.05191	+0.102%	$445K	$704K	20x
Gate 2Z_USDT	+0.0100%	4h	0.05187	+0.025%	$90K	$70K	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	0.05192	+0.121%	$294K	$125K	50x	as long as short
KuCoin 2ZUSDTMlong	+0.0100%	4h	0.05186	long leg	$191K	$52K	50x
Bitget 2ZUSDT	+0.0100%	4h	0.05185	−0.013%	$145K	$615K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05189	+0.064%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05186	+0.008%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05195	+0.179%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.1050%	1h	0.05201	+0.287%	$6K	$3K	10x	as long as short