Funding arb · Price arb /

AXL

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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: Bybit against KuCoin+0.114%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$811as in the Funding arb table

Net, price: spread back to 7d avg − costs−$861as in the Price arb table

costs, in and out, $10k−$8738.728% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.619%+$62 on $10k

Price spread, last 4 days (all we have)−0.280%−$28 · spread now +0.114%, 7d avg −0.003%

Together, before fees+0.339%+$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: Bybit is 0.117% dearer against KuCoin than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AXLUSDTM	0.05251	0.0100	pay 0.0050% / 4h	3h 56m	$440K	$97K	30x
Short	Bybit AXLUSDT	0.05257	0.0100	get 0.0050% / 4h	3h 56m	$1.5M	$2.0M	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 +0.114%Rate

Funding earned: $0
Price spread: +0.114% → −0.003%: $11.74
Slippage, 4 orders: −$849.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$861.11
Costs to cover: 8.728%
Break-even: never at this rate

Slippage from KuCoin: live order book, 16 min ago; Bybit: live order book, 5 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, 16 min ago	9.50 bp	361.4 bp −$361	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.80 bp	40.3 bp −$40	doesn't fit	doesn't fit	doesn't fit

AXL on 9 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
BingX AXL-USDT	+0.0070%	4h	0.05257	+0.114%	—	$2.3M	—	as long as short
BloFin AXL-USDT	+0.0078%	4h	0.05256	+0.095%	$121K	$10K	50x	as long as short
Aster AXLUSDT	+0.0100%	4h	0.05253	+0.041%	$34K	$7K	5x	as long as short
Binance AXLUSDT	+0.0100%	4h	0.05251	+0.001%	$1.8M	$4.2M	50x	as long as short
Bybit AXLUSDTshort	+0.0100%	4h	0.05257	+0.114%	$1.5M	$2.0M	25x
MEXC AXL_USDT	+0.0100%	4h	0.05244	−0.133%	$327K	$165K	50x	as long as short
KuCoin AXLUSDTMlong	+0.0100%	4h	0.05251	long leg	$440K	$97K	30x
Bitget AXLUSDT	+0.0100%	4h	0.05255	+0.076%	$573K	$310K	50x	as long as short
Variational Omni AXL	+0.0100%	4h	0.05267	+0.297%	$6K	$23K	—	as long as short