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Funding arb · Price arb /

BTC

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.034%
Price spread now: Hyperliquid against KuCoin+0.083%7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$210.214% of the position
Long on KuCoinShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 7 days+0.114%+$11 on $10k
Price spread, last 7 days−0.075%−$7 · spread now +0.083%, 7d avg +0.039%
Together, before fees+0.040%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.044% dearer against KuCoin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.039%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin XBTUSDTM86,577.8−0.0002get 0.0002% / 8h2h 49m$844.6M$709.2M125x
ShortHyperliquid BTC86,6500.0100get 0.0013% / 1h49m 19s$3.83B$5.10B40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Funding earned
$21.42
Price spread: +0.083% → +0.039%
$4.4
Slippage, 4 orders
−$0.35
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$4.47
Costs to cover
0.214%
Break-even
5.5 days
Slippage from KuCoin: live order book, 5 min ago; Hyperliquid: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy KuCoin live order book, 5 min ago0.01 bp6.0 bp −$66.4 bp −$647.3 bp −$732doesn't fit
Sell Hyperliquid live order book, 5 min ago0.06 bp4.8 bp −$55.1 bp −$516.3 bp −$627doesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl BTC−0.0335%43m86,625+0.055%$426K$25.1M6.7xas long as short
Aftermath Perps BTCUSD−0.0200%1h86,707.1+0.149%$85K$188K20xas long as short
Phoenix BTC−0.0103%1h86,701+0.142%$2.2M$12.4M40xas long as short
dYdX BTC-USD−0.0090%1h86,651.2+0.085%$18.0M$20.0M50xas long as short
Hotstuff BTC-PERP−0.0080%1h86,590+0.014%$9K$3K50xas long as short
KuCoin XBTUSDTMlong−0.0002%8h86,577.8long leg$844.6M$709.2M125x
01 Exchange BTCUSD0.0000%1h86,606.1+0.033%$361K$2.5M50xas long as short
Deribit BTC-PERPETUAL0.0000%1h86,629.6+0.060%$921.2M$1.39B50xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0005%1h86,614.5+0.042%$36.6M—200xas long as short
Aster BTCUSDT+0.0013%8h86,577.60.000%$505.5M$1.16B200xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDT+0.0020%8h86,591.8+0.016%—$1.60B—as long as short
Reya BTCRUSDPERP+0.0021%1h86,587.6+0.011%$6.7M$144.0M40xas long as short
Phemex BTCUSDT+0.0024%8h86,586.9+0.011%$149.5M$469.6M150xas long as short
Bitget BTCUSDT+0.0026%8h86,587.7+0.011%$2.94B$5.08B150xas long as short
MEXC BTC_USDT+0.0047%8h86,587.4+0.011%$5.19B$5.63B500xas long as short
Binance BTCUSDT+0.0048%8h86,591.9+0.016%$9.44B$24.35B150xas long as short
Aevo BTC-PERP+0.0048%1h86,594.3+0.019%$2.4M$1.3M20xas long as short
Injective BTC/USDC PERP+0.0049%1h86,732+0.178%$315K$26.8M52xas long as short
OKX BTC-USDT-SWAP+0.0060%8h86,599.3+0.025%$2.57B$12.72B100xas long as short
RISEx BTC/USDC+0.0063%1h86,600.2+0.026%$9.2M$42.2M25xas long as short
Gate BTC_USDT+0.0064%8h86,591+0.015%$5.85B$10.57B200xas long as short
Bybit BTCUSDT+0.0077%8h86,587.3+0.011%$5.27B$9.70B150xas long as short
Variational Omni BTC+0.0088%8h86,626.8+0.057%$159.8M$564.2M—as long as short
Lighter BTC+0.0096%1h86,604.6+0.031%$172.0M$1.01B50xas long as short
Lighter RH BTC+0.0096%1h86,612.3+0.040%$24.0M$152.8M50xas long as short
GRVT BTC_USDT_Perp+0.0096%8h86,635.2+0.066%$217.5M$189.0M50xas long as short
Popdex BTCUSDT+0.0096%1h86,5780.000%$8.5M$52.1M100xas long as short
Orderly PERP_BTC_USDC+0.0099%8h86,608.2+0.035%$2.4M$8.4M100xas long as short
SoDEX BTC-USD+0.0099%1h86,592+0.016%$60.4M$336.5M40xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,628+0.058%$4.8M$8.2M50xas long as short
Katana Perps BTC-USD+0.0100%8h86,579+0.001%$200K$6.8M50xas long as short
Nado BTC-PERP+0.0100%1h86,600+0.026%$21.8M$237.5M50xas long as short
Hyperliquid BTCshort+0.0100%1h86,650+0.083%$3.83B$5.10B40x
Pacifica BTC+0.0100%1h86,620.7+0.050%$40.9M$485.8M50xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,630+0.060%$3.9M$18.8M25xas long as short
Arcus BTC-USD+0.0100%1h86,667.5+0.104%$7.4M$95.6M40xas long as short
Bulk BTC-USD+0.0100%1h86,665+0.101%$572.2M$23.5M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,599.1+0.025%$38.2M$148.1M75xas long as short
edgeX BTCUSDC+0.0100%4h86,704.2+0.146%$280.1M$946.6M100xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,636.4+0.068%$141.8M$322.7M100xas long as short
StandX BTC-USD+0.0100%1h86,664+0.100%$30.8M$205.9M40xas long as short
Vest BTC-PERP+0.0100%1h86,656.9+0.091%—$11.6M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,588+0.012%$11.0M$13.7M50xas long as short
Bullet BTC-USD+0.0100%1h86,587.2+0.011%$198K$3.4M20xas long as short
Bluefin BTC-PERP+0.0100%1h86,611+0.038%$140K$619K40xas long as short
Derive BTC-PERP+0.0100%1h86,596+0.021%$30.0M$61.5M15xas long as short
SunX BTC-USDT+0.0100%8h86,576.6−0.001%$3.4M$5.6M100xas long as short
HTX BTC-USDT+0.0100%8h86,578.8+0.001%$2.30B$956.7M200xas long as short
Extended BTC-USD+0.0104%1h86,580.8+0.003%$46.6M$229.3M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,613.5+0.041%—$98.1M500xas long as short
Kalshi KXBTCPERP+0.0106%8h86,635+0.066%$8.8M$724.4M6.4xas long as short
Kraken Futures PF_XBTUSD+0.0117%1h86,632.7+0.063%$192.1M$926.7M100xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,642.1+0.074%$131.9M$5.91B50xas long as short
BloFin BTC-USDT+0.0168%8h86,592.1+0.017%$418.0M$642.6M150xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0181% / S −0.0198%1h86,609.5+0.037%$15.4M—200xas long as short
Hibachi BTC/USDT-P+0.0208%1h86,672.4+0.109%$598K$7.2M30xas long as short