Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h −0.013%

Price spread now: 01 Exchange against KuCoin−0.010%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on KuCoin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.048%−$5 on $10k

Price spread, last 7 days+0.019%+$2 · spread now −0.010%, 7d avg −0.002%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XBTUSDTM	85,946.8	0.0040	pay 0.0040% / 8h	6h 19m	$928.0M	$651.2M	125x
Short	01 Exchange BTCUSD	85,938.3	−0.0072	pay 0.0009% / 1h	19m 31s	$357K	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.010%Rate

Funding earned: −$23.52
Price spread: −0.010% → −0.002%: −$0.76
Slippage, 4 orders: −$3.11
Fee KuCoin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$46.39
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; 01 Exchange: live order book, 3 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, 3 min ago	0.01 bp	6.0 bp −$6	6.4 bp −$64	8.2 bp −$817	doesn't fit
Sell 01 Exchange live order book, 3 min ago	0.02 bp	4.4 bp −$4	66.7 bp −$667	doesn't fit	doesn't fit

BTC on 55 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
Hotstuff BTC-PERP	−0.0080%	1h	85,938	−0.010%	$8K	$2K	50x	as long as short
ApeX Omni BTCUSDT	−0.0076%	1h	85,979.1	+0.038%	$137.4M	$295.5M	100x	as long as short
01 Exchange BTCUSDshort	−0.0072%	1h	85,938.3	−0.010%	$357K	$2.0M	50x
Injective BTC/USDC PERP	−0.0065%	1h	85,986	+0.046%	$300K	$28.5M	52x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,924.8	−0.026%	$422.4M	$579.8M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,949.1	+0.003%	$16.8M	$15.0M	50x	as long as short
Perpl BTC	0.0000%	43m	85,934.7	−0.014%	$481K	$14.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,946.4	0.000%	$36.7M	—	200x	as long as short
SoDEX BTC-USD	+0.0012%	1h	85,953	+0.007%	$65.5M	$188.0M	40x	as long as short
BingX BTC-USDT	+0.0019%	8h	85,937.9	−0.010%	—	$1.40B	—	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit BTCUSDT	+0.0026%	8h	85,940	−0.008%	$5.09B	$8.44B	150x	as long as short
Aster BTCUSDT	+0.0036%	8h	85,933.9	−0.015%	$512.1M	$905.6M	200x	as long as short
KuCoin XBTUSDTMlong	+0.0040%	8h	85,946.8	long leg	$928.0M	$651.2M	125x
Phoenix BTC	+0.0053%	1h	85,955	+0.010%	$2.0M	$8.5M	40x	as long as short
Gate BTC_USDT	+0.0067%	8h	85,938.9	−0.009%	$5.50B	$9.28B	200x	as long as short
Nado BTC-PERP	+0.0074%	1h	85,938.8	−0.009%	$22.1M	$202.0M	50x	as long as short
Lighter BTC	+0.0096%	1h	85,943	−0.004%	$172.7M	$887.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,948.8	+0.002%	$23.1M	$124.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,937	−0.011%	$8.8M	$46.8M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,948.6	+0.002%	$2.4M	$6.7M	20x	as long as short
Bitget BTCUSDT	+0.0099%	8h	85,935.5	−0.013%	$2.97B	$4.12B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,919	−0.032%	$210K	$8.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,951.6	+0.006%	$5.9M	$7.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,031	+0.098%	$3.93B	$4.46B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,970.2	+0.027%	$40.4M	$571.6M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,936.7	−0.012%	$9.44B	$21.36B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,942.7	−0.005%	$2.60B	$9.78B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,943	−0.004%	$4.0M	$15.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,967.4	+0.024%	$4.2M	$91.5M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,923.2	−0.027%	$5.14B	$5.38B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,943.6	−0.004%	$37.4M	$192.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,913	−0.039%	$156.0M	$495.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,948.1	+0.002%	$289.4M	$850.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,890.1	−0.066%	$215.7M	$139.9M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,947	0.000%	$30.2M	$221.0M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,010.1	+0.074%	—	$10.5M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,943	−0.004%	$11.0M	$12.4M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,952	+0.006%	$202K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,950.4	+0.004%	$2.6M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,997.2	+0.059%	$195K	$565K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,957.1	+0.012%	$3.2M	$7.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,940	−0.008%	$2.27B	$841.0M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,949.7	+0.003%	$169.3M	$484.3M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,914.7	−0.037%	$712.8M	$159.6M	40x	as long as short
Kraken Futures PF_XBTUSD	+0.0102%	1h	85,971.5	+0.029%	$189.8M	$801.5M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	85,912.1	−0.040%	$46.9M	$207.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,934.1	−0.015%	—	$82.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,003.4	+0.066%	$112.1M	$5.04B	50x	as long as short
Reya BTCRUSDPERP	+0.0160%	1h	85,936.2	−0.012%	$6.6M	$131.5M	40x	as long as short
Kalshi KXBTCPERP	+0.0165%	8h	85,960	+0.015%	$11.2M	$731.9M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0199% / S −0.0183%	1h	85,960.4	+0.016%	$13.2M	—	200x	as long as short
RISEx BTC/USDC	+0.0204%	1h	85,975.4	+0.033%	$8.9M	$38.7M	25x	as long as short
Hibachi BTC/USDT-P	+0.0304%	1h	85,996.1	+0.057%	$708K	$7.0M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0331%	1h	86,021.7	+0.087%	$827.8M	$1.54B	50x	as long as short
Aftermath Perps BTCUSD	+0.0433%	1h	85,992.1	+0.053%	$81K	$247K	20x	as long as short