Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against OKX−0.111%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$205as in the Price arb table

costs, in and out, $10k−$1931.931% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.197%+$20 on $10k

Price spread, last 4 days (all we have)+0.140%+$14 · spread now −0.111%, 7d avg +0.006%

Together, before fees+0.337%+$34 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 0.117% cheaper against OKX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX 2Z-USDT-SWAP	0.05241	0.0100	pay 0.0050% / 4h	3h 30m	$449K	$714K	20x
Short	KuCoin 2ZUSDTM	0.05235	0.0100	get 0.0050% / 4h	3h 30m	$179K	$55K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → +0.006%: −$11.67
Slippage, 4 orders: −$171.06
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$204.73
Costs to cover: 1.931%
Break-even: never at this rate

Slippage from OKX: live order book, 21 min ago; KuCoin: live order book, 40 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 OKX live order book, 21 min ago	1.90 bp	33.6 bp −$34	1814.1 bp −$18.1K	doesn't fit	doesn't fit
Sell KuCoin live order book, 40 min ago	12.35 bp	67.1 bp −$67	595.4 bp −$5,954	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	−0.0663%	1h	0.05238	−0.057%	$45K	$22K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.980%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05247	+0.114%	$17K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05242	+0.017%	$676K	$353K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05241	+0.007%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05243	+0.040%	$76K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05238	−0.056%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05244	+0.057%	$725K	$964K	50x	as long as short
OKX 2Z-USDT-SWAPlong	+0.0100%	4h	0.05241	long leg	$449K	$714K	20x
Gate 2Z_USDT	+0.0100%	4h	0.05236	−0.095%	$91K	$61K	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	0.05244	+0.057%	$329K	$132K	50x	as long as short
KuCoin 2ZUSDTMshort	+0.0100%	4h	0.05235	−0.111%	$179K	$55K	50x
Bitget 2ZUSDT	+0.0100%	4h	0.05242	+0.019%	$162K	$625K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05240	−0.019%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05243	+0.040%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05243	+0.038%	$2K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0567%	1h	0.05245	+0.078%	$5K	$3K	10x	as long as short