Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.039%

Price spread now: KuCoin against Coinbase International−0.587%7-day average +0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$243as in the Price arb table

costs, in and out, $10k−$1771.767% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 3 days (all we have)+0.791%+$79 · spread now −0.587%, 7d avg +0.075%

Together, before fees+1.033%+$103 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.662% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.587% now, against its 7-day average of +0.075%). If the spread goes back, that is −$66 on $10k: about 13 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ALGO-PERP-INTX	0.1124	−0.0064	get 0.0008% / 1h	11m 45s	$62K	$332K	50x
Short	KuCoin ALGOUSDTM	0.1118	0.0100	get 0.0100% / 8h	2h 11m	$3.6M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now −0.587%Rate

Funding earned: $34.44
Price spread: −0.587% → +0.075%: −$66.17
Slippage, 4 orders: −$154.75
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$208.48
Costs to cover: 1.767%
Break-even: 49.4 days

Slippage from Coinbase International: live order book, 11 min ago; KuCoin: live order book, 6 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 Coinbase International live order book, 11 min ago	4.89 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	5.79 bp	99.1 bp −$99	250.8 bp −$2,508	doesn't fit	doesn't fit

ALGO on 22 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
Deribit ALGO_USDC-PERPETUAL	−0.0911%	1h	0.1118	−0.525%	$101K	$50K	25x	as long as short
Injective ALGO/USDC PERP	−0.0212%	1h	0.1115	−0.818%	$830	$175K	12x	as long as short
Bybit ALGOUSDT	−0.0120%	8h	0.1117	−0.649%	$11.2M	$12.2M	75x	as long as short
Variational Omni ALGO	−0.0082%	8h	0.1121	−0.307%	$65K	$10K	—	as long as short
Coinbase International ALGO-PERP-INTXlong	−0.0064%	1h	0.1124	long leg	$62K	$332K	50x
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	0.1119	−0.446%	$6K	—	150x	as long as short
Kraken Futures PF_ALGOUSD	+0.0093%	1h	0.1119	−0.472%	$839K	$1.2M	50x	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1119	−0.418%	$3.7M	$1.9M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1119	−0.469%	$44K	$31K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1117	−0.603%	$9.9M	$34.8M	75x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1117	−0.614%	$3.0M	$7.8M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1117	−0.649%	$856K	$841K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	0.1118	−0.587%	$23.0M	$3.0M	200x	as long as short
KuCoin ALGOUSDTMshort	+0.0100%	8h	0.1118	−0.587%	$3.6M	$1.5M	50x
Bitget ALGOUSDT	+0.0100%	8h	0.1118	−0.552%	$5.6M	$3.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1117	−0.614%	—	$3.3M	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1118	−0.552%	$66K	$109K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	0.1121	−0.285%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1117	−0.606%	$7K	$210K	10x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	0.1119	−0.418%	$493K	$795K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0237% / S −0.0158%	1h	0.1119	−0.439%	$5K	—	100x	as long as short
dYdX ALGO-USD	+0.1332%	1h	0.1119	−0.437%	$160K	$5K	5x	as long as short