BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.74 per $10,000 · paid last 24h −0.014%

Price spread now: KuCoin against SunX+0.066%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on SunX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.066%, 7d avg +0.006%

Together, before fees−0.079%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.059% dearer against SunX than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of +0.006%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 7 days (−0.060% in total) that is about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BTC-USDT	86,553.5	0.0100	pay 0.0100% / 8h	1m 03s	$3.4M	$5.3M	100x
Short	KuCoin XBTUSDTM	86,610.4	0.0026	get 0.0026% / 8h	1m 03s	$835.3M	$728.6M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SunX. 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 SunXbpFee KuCoinbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$15.54
Price spread: +0.066% → +0.006%: $5.93
Slippage, 4 orders: −$3.3
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$32.91
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; KuCoin: live order book, 8 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 SunX live order book, 8 min ago	0.76 bp	5.7 bp −$6	6.3 bp −$63	8.4 bp −$845	doesn't fit
Sell KuCoin live order book, 8 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.9 bp −$695	doesn't fit

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	86,570	+0.019%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,554	+0.001%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERP	−0.0035%	1h	86,652	+0.114%	$333K	$26.9M	52x	as long as short
RISEx BTC/USDC	−0.0024%	1h	86,579.5	+0.030%	$8.3M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,577.9	+0.028%	$360K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,582.1	+0.033%	$411K	$22.4M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,619	+0.076%	$37.0M	—	200x	as long as short
Aster BTCUSDT	+0.0014%	8h	86,601	+0.055%	$502.3M	$1.15B	200x	as long as short
KuCoin XBTUSDTMshort	+0.0026%	8h	86,610.4	+0.066%	$835.3M	$728.6M	125x
Reya BTCRUSDPERP	+0.0038%	1h	86,585	+0.036%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0045%	8h	86,586.9	+0.039%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0055%	8h	86,625.6	+0.083%	$152.2M	$478.9M	150x	as long as short
Bitget BTCUSDT	+0.0057%	8h	86,585.9	+0.037%	$2.97B	$5.12B	150x	as long as short
dYdX BTC-USD	+0.0062%	1h	86,559.6	+0.007%	$17.0M	$21.2M	50x	as long as short
MEXC BTC_USDT	+0.0076%	8h	86,583.9	+0.035%	$5.16B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0076%	8h	86,585	+0.036%	$9.45B	$24.55B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,607.5	+0.062%	$2.5M	$1.4M	20x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,608.3	+0.063%	$5.88B	$10.83B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,630	+0.088%	$170.1M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,638.9	+0.099%	$23.8M	$153.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,565	+0.013%	$8.5M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,547	−0.008%	$196K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,608.3	+0.063%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,566.7	+0.015%	$21.8M	$234.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,686.8	+0.154%	$3.80B	$5.10B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,597.7	+0.051%	$41.1M	$538.1M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,587.2	+0.039%	$5.27B	$9.80B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,587.6	+0.039%	$2.55B	$12.75B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,568	+0.017%	$3.9M	$18.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,597.3	+0.051%	$7.0M	$96.7M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,613.6	+0.069%	$38.1M	$155.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,554.4	+0.001%	$157.4M	$568.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,559.4	+0.007%	$279.6M	$948.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,495.7	−0.067%	$217.1M	$171.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,582.7	+0.034%	$141.8M	$323.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,546	−0.009%	$30.7M	$207.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,619.4	+0.076%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,588	+0.040%	$11.1M	$14.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,596	+0.049%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,609.1	+0.064%	$2.5M	$9.3M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,646.5	+0.107%	$141K	$663K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,645.4	+0.106%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDTlong	+0.0100%	8h	86,553.5	long leg	$3.4M	$5.3M	100x
SoDEX BTC-USD	+0.0100%	1h	86,618	+0.075%	$60.6M	$338.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,606.6	+0.061%	$2.30B	$968.8M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,452.9	−0.116%	$572.2M	$12.3M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,569	+0.018%	$45.8M	$225.2M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,580	+0.031%	—	$100.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,657.9	+0.121%	$193.7M	$953.0M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,666.5	+0.131%	$132.2M	$5.64B	50x	as long as short
Aftermath Perps BTCUSD	+0.0163%	1h	86,554.3	+0.001%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0176%	1h	86,586.7	+0.038%	$717K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0196%	8h	86,600	+0.054%	$415.5M	$660.3M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0201% / S −0.0226%	1h	86,609.8	+0.065%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,599	+0.053%	$10.4M	$755.6M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0242%	1h	86,666.7	+0.131%	$912.1M	$1.49B	50x	as long as short