Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h −0.017%

Price spread now: KuCoin against Vest−0.079%50s7-day average −0.009% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Vest Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days+0.076%+$8 · spread now −0.079%, 7d avg −0.009%

Together, before fees+0.058%+ Points / potential airdropVest: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and KuCoin is 0.071% cheaper against Vest than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest BTC-PERP	85,567.5	0.0100	pay 0.0013% / 1h	23m 41s	—	$11.8M	50x
Short	KuCoin XBTUSDTM	85,499.9	−0.0019	pay 0.0019% / 8h	4h 23m	$920.9M	$751.0M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee KuCoinbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$24.99
Price spread: −0.079% → −0.009%: −$7.05
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$46.04
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; KuCoin: live order book, 6 min ago. Net counts fees only.

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 Vest no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 6 min ago	0.01 bp	6.2 bp −$6	7.8 bp −$78	9.6 bp −$962	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0179%	1h	85,485	−0.096%	$2.1M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,534	−0.039%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,498.6	−0.081%	$365K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0024%	8h	85,505.5	−0.072%	$417.1M	$667.7M	150x	as long as short
KuCoin XBTUSDTMshort	−0.0019%	8h	85,499.9	−0.079%	$920.9M	$751.0M	125x
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,526.7	−0.048%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0012%	8h	85,510	−0.067%	$515.5M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0015%	1h	85,497.7	−0.082%	$16.7M	$21.2M	50x	as long as short
Arcus BTC-USD	+0.0021%	1h	85,490.5	−0.090%	$4.4M	$98.4M	40x	as long as short
Nado BTC-PERP	+0.0023%	1h	85,517.1	−0.059%	$25.5M	$222.3M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0062%	8h	85,501.7	−0.077%	—	$17.1M	—	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,510.2	−0.067%	$147.6M	$487.2M	150x	as long as short
Bitget BTCUSDT	+0.0078%	8h	85,504.5	−0.074%	$2.95B	$5.07B	150x	as long as short
Reya BTCRUSDPERP	+0.0082%	1h	85,507.2	−0.071%	$6.7M	$146.8M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,529.9	−0.044%	$173.1M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,538.5	−0.034%	$23.9M	$149.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,506	−0.072%	$8.4M	$52.9M	100x	as long as short
MEXC BTC_USDT	+0.0096%	8h	85,527.4	−0.047%	$5.07B	$5.64B	500x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,514.3	−0.062%	$2.5M	$1.7M	20x	as long as short
Binance BTCUSDT	+0.0097%	8h	85,524.9	−0.050%	$9.36B	$24.13B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,469	−0.115%	$210K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,575.2	+0.009%	$4.9M	$8.9M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,601	+0.039%	$3.75B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,546	−0.025%	$40.7M	$580.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,501.6	−0.077%	$5.21B	$9.79B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,513.3	−0.063%	$2.58B	$12.14B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,499	−0.080%	$3.8M	$18.2M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,516	−0.060%	$659.1M	$647.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,520.5	−0.055%	$5.51B	$10.72B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,517	−0.059%	$35.7M	$176.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,455.5	−0.131%	$153.7M	$564.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,449	−0.139%	$279.2M	$919.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,448.2	−0.139%	$214.5M	$169.2M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,461	−0.124%	$139.8M	$314.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,507.1	−0.071%	$30.2M	$208.1M	40x	as long as short
Vest BTC-PERPlong	+0.0100%	1h	85,567.5	long leg	—	$11.8M	50x
Polymarket Perps BTC-USD	+0.0100%	1h	85,510	−0.067%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,513.5	−0.063%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,516.9	−0.059%	$2.4M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,558.8	−0.010%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,509.5	−0.068%	$29.9M	$50.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,493.4	−0.087%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,521	−0.054%	$59.9M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,499.9	−0.079%	$2.26B	$942.3M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,482.6	−0.099%	$44.6M	$230.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,526.1	−0.048%	—	$107.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,559.8	−0.009%	$117.0M	$5.19B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0149%	1h	85,562.4	−0.006%	$884.7M	$1.56B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,475	−0.108%	$339K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,544.3	−0.027%	$187.6M	$954.9M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,532.9	−0.040%	$8.2M	$42.5M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,522.9	−0.052%	$13.4M	—	200x	as long as short
Aftermath Perps BTCUSD	+0.0202%	1h	85,521.4	−0.054%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,537.3	−0.035%	$703K	$7.9M	30x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,539	−0.033%	$10.5M	$756.5M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,524.2	−0.051%	$501K	$18.8M	6.7x	as long as short