Funding arb · Price arb /

AIXBT

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against KuCoin−0.147%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$568as in the Funding arb table

Net, price: spread back to 7d avg − costs−$591as in the Price arb table

costs, in and out, $10k−$5845.838% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.158%+$16 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.147%, 7d avg −0.075%

Together, before fees+0.329%+$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: Bybit is 0.071% 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 −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AIXBTUSDTM	0.02250	0.0100	pay 0.0050% / 4h	2h 24m	$1.2M	$1.4M	30x
Short	Bybit AIXBTUSDT	0.02247	0.0100	get 0.0050% / 4h	2h 24m	$1.2M	$959K	25x

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 −0.147%Rate

Funding earned: $0
Price spread: −0.147% → −0.075%: −$7.13
Slippage, 4 orders: −$560.75
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$590.88
Costs to cover: 5.838%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; Bybit: live order book, 2 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, 1 min ago	4.44 bp	313.1 bp −$313	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	6.68 bp	31.2 bp −$31	188.8 bp −$1,888	doesn't fit	doesn't fit

AIXBT on 14 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
Kraken Futures PF_AIXBTUSD	−0.1928%	1h	0.02249	−0.027%	$20K	$7K	10x	as long as short
Variational Omni AIXBT	−0.0120%	4h	0.02244	−0.248%	$98K	$11K	—	as long as short
Hyperliquid AIXBT	+0.0100%	1h	0.02250	+0.009%	$374K	$179K	3x	as long as short
Binance AIXBTUSDT	+0.0100%	4h	0.02249	−0.044%	$2.4M	$2.9M	50x	as long as short
Bybit AIXBTUSDTshort	+0.0100%	4h	0.02247	−0.147%	$1.2M	$959K	25x
OKX AIXBT-USDT-SWAP	+0.0100%	4h	0.02248	−0.089%	$449K	$1.5M	20x	as long as short
Gate AIXBT_USDT	+0.0100%	4h	0.02247	−0.133%	$193K	$79K	25x	as long as short
MEXC AIXBT_USDT	+0.0100%	4h	0.02249	−0.044%	$463K	$180K	100x	as long as short
KuCoin AIXBTUSDTMlong	+0.0100%	4h	0.02250	long leg	$1.2M	$1.4M	30x
Bitget AIXBTUSDT	+0.0100%	4h	0.02249	−0.044%	$638K	$458K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX AIXBT-USDT	+0.0100%	4h	0.02249	−0.044%	—	$6.6M	—	as long as short
BloFin AIXBT-USDT	+0.0118%	4h	0.02251	+0.044%	$119K	$63K	50x	as long as short
GMX AIXBT/USD [ETH-USDC]	L +0.0269% / S −0.0489%	1h	0.02249	−0.049%	$5K	—	100x	as long as short
Reya AIXBTRUSDPERP	+0.0372%	1h	0.02248	−0.069%	—	—	—	as long as short