Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.012%

Price spread now: KuCoin against StandX+0.058%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on StandX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 7 days−0.045%−$4 · spread now +0.058%, 7d avg +0.003%

Together, before fees−0.127%+ Points / potential airdropStandX: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.054% dearer against StandX than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of +0.003%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 7 days (−0.082% in total) that is about 4.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX BTC-USD	86,556.8	0.0100	pay 0.0013% / 1h	46m 50s	$30.7M	$204.6M	40x
Short	KuCoin XBTUSDTM	86,606.6	0.0011	get 0.0011% / 8h	46m 50s	$851.5M	$714.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against StandX. 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 StandXbpFee KuCoinbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$18.69
Price spread: +0.058% → +0.003%: $5.41
Slippage, 4 orders: −$3.2
Fee StandX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$36.48
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from StandX: live order book, 2 min ago; KuCoin: live order book, 2 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 StandX live order book, 2 min ago	1.10 bp	5.9 bp −$6	7.0 bp −$70	7.8 bp −$780	9.4 bp −$4,696
Sell KuCoin live order book, 2 min ago	0.01 bp	6.0 bp −$6	6.8 bp −$68	8.2 bp −$817	11.7 bp −$5,862

BTC on 56 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
Phoenix BTC	−0.0118%	1h	86,505	−0.060%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,590	+0.038%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,568	+0.013%	$333K	$26.8M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,589.5	+0.038%	$8.3M	$42.9M	25x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,606.1	+0.057%	$358K	$2.5M	50x	as long as short
Aster BTCUSDT	−0.0001%	8h	86,639.8	+0.096%	$502.7M	$1.15B	200x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,624.6	+0.078%	$916.3M	$1.49B	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,577.9	+0.024%	$36.9M	—	200x	as long as short
KuCoin XBTUSDTMshort	+0.0011%	8h	86,606.6	+0.058%	$851.5M	$714.7M	125x
Reya BTCRUSDPERP	+0.0026%	1h	86,565.8	+0.010%	$6.7M	$145.3M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BTC-USD	+0.0032%	1h	86,633.7	+0.089%	$17.0M	$21.1M	50x	as long as short
Phemex BTCUSDT	+0.0040%	8h	86,607.6	+0.059%	$150.2M	$479.8M	150x	as long as short
BingX BTC-USDC	+0.0041%	8h	86,618.2	+0.071%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0052%	8h	86,639.6	+0.096%	$2.96B	$5.12B	150x	as long as short
MEXC BTC_USDT	+0.0071%	8h	86,627.9	+0.082%	$5.15B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0072%	8h	86,643.9	+0.101%	$9.44B	$24.55B	150x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,590.3	+0.039%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0083%	8h	86,636.6	+0.092%	$5.88B	$10.72B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,649.8	+0.107%	$170.5M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,664.5	+0.124%	$24.1M	$151.6M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,574	+0.020%	$8.5M	$52.5M	100x	as long as short
SoDEX BTC-USD	+0.0099%	1h	86,589	+0.037%	$60.5M	$337.6M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,560	+0.004%	$199K	$7.0M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,625.5	+0.079%	$4.8M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,591.1	+0.040%	$21.8M	$234.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,699	+0.164%	$3.80B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,634.7	+0.090%	$40.8M	$524.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,646	+0.103%	$5.27B	$9.82B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,654.9	+0.113%	$2.55B	$12.77B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,598	+0.048%	$3.9M	$18.6M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,613.3	+0.065%	$7.6M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,560.7	+0.005%	$572.5M	$17.8M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,596.7	+0.046%	$38.1M	$155.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,524.8	−0.037%	$155.3M	$568.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,501.6	−0.064%	$279.5M	$946.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,516.2	−0.047%	$217.3M	$172.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,541.7	−0.017%	$141.4M	$323.6M	100x	as long as short
StandX BTC-USDlong	+0.0100%	1h	86,556.8	long leg	$30.7M	$204.6M	40x
Vest BTC-PERP	+0.0100%	1h	86,623.2	+0.077%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,578	+0.025%	$11.1M	$13.8M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,556.7	0.000%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,573.6	+0.019%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,597.9	+0.048%	$140K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,598.7	+0.048%	$30.6M	$62.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,570.9	+0.016%	$3.4M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,567.7	+0.013%	$2.30B	$970.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,599.4	+0.049%	$45.4M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,575.9	+0.022%	—	$99.4M	500x	as long as short
Aftermath Perps BTCUSD	+0.0108%	1h	86,568	+0.013%	$79K	$220K	20x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,626.1	+0.080%	$193.7M	$951.5M	100x	as long as short
Perpl BTC	+0.0112%	43m	86,617.7	+0.070%	$419K	$23.3M	6.7x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,636	+0.092%	$132.7M	$5.69B	50x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,615.5	+0.068%	$729K	$8.1M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0191% / S −0.0215%	1h	86,573.6	+0.019%	$15.1M	—	200x	as long as short
BloFin BTC-USDT	+0.0192%	8h	86,589.3	+0.038%	$414.8M	$658.8M	150x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	86,618	+0.071%	$9.7M	$741.9M	6.4x	as long as short