Funding arb · Price arb /

ALICE

all ALICE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0900%/8h= +98.6% APRpaid last 24h +0.078%

Price spread now: Bybit against KuCoin+0.202%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,003as in the Funding arb table

Net, price: spread back to 7d avg − costs−$993as in the Price arb table

costs, in and out, $10k−$1,01510.146% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 4 days (all we have)−0.372%−$37 · spread now +0.202%, 7d avg −0.015%

Together, before fees−0.253%−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and Bybit is 0.217% dearer against KuCoin than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.015%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.118% in total (about 6.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ALICEUSDTM	0.1434	0.0100	pay 0.0050% / 4h	2h 21m	$412K	$48K	30x
Short	Bybit ALICEUSDT	0.1437	0.1000	get 0.1000% / 8h	6h 21m	$680K	$224K	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

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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 +0.202%Rate

Funding earned: $189.1
Price spread: +0.202% → −0.015%: $21.71
Slippage, 4 orders: −$991.6
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$803.78
Costs to cover: 10.146%
Break-even: 36.8 days

Slippage from KuCoin: live order book, 23 min ago; Bybit: live order book, 26 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, 23 min ago	13.94 bp	372.7 bp −$373	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 26 min ago	6.61 bp	178.0 bp −$178	doesn't fit	doesn't fit	doesn't fit

ALICE on 11 exchanges

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
BloFin ALICE-USDT	+0.0091%	4h	0.1433	−0.070%	$156K	$23K	50x	as long as short
Aster ALICEUSDT	+0.0100%	4h	0.1433	−0.100%	$9K	$19	5x	as long as short
Binance ALICEUSDT	+0.0100%	4h	0.1433	−0.070%	$2.3M	$2.8M	50x	as long as short
Gate ALICE_USDT	+0.0100%	8h	0.1435	+0.070%	$93K	$100K	25x	as long as short
MEXC ALICE_USDT	+0.0100%	4h	0.1432	−0.139%	$533K	$125K	50x	as long as short
KuCoin ALICEUSDTMlong	+0.0100%	4h	0.1434	long leg	$412K	$48K	30x
Bitget ALICEUSDT	+0.0100%	4h	0.1433	−0.070%	$990K	$136K	50x	as long as short
BingX ALICE-USDT	+0.0100%	4h	0.1434	0.000%	—	$1.3M	—	as long as short
Variational Omni ALICE	+0.0100%	8h	0.1439	+0.339%	$472	$472	—	as long as short
Bybit ALICEUSDTshort	+0.1000%	8h	0.1437	+0.202%	$680K	$224K	25x

Show all 11 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ALICEUSD	+0.1867%	1h	0.1436	+0.150%	$33K	$3K	10x	as long as short