Funding arb · Price arb /

CFX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.078%

Price spread now: Coinbase International against KuCoin+0.037%7-day average +0.201% · you sell dearer than you buy

Net, funding: paid 7d − costs−$911as in the Funding arb table

Net, price: spread back to 7d avg − costs−$953as in the Price arb table

costs, in and out, $10k−$9369.362% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.253%+$25 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.037%, 7d avg +0.201%

Together, before fees+0.175%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.164% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.037% now, against its 7-day average of +0.201%). If the spread goes back, that is −$16 on $10k: about 3.7 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin CFXUSDTM	0.05410	0.0100	pay 0.0100% / 8h	5h 14m	$889K	$283K	75x
Short	Coinbase International CFX-PERP-INTX	0.05412	0.0248	get 0.0031% / 1h	14m 47s	$43K	$125K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.037%Rate

Funding earned: $31.08
Price spread: +0.037% → +0.201%: −$16.37
Slippage, 4 orders: −$914.15
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$921.44
Costs to cover: 9.362%
Break-even: 214.5 days

Slippage from KuCoin: live order book, 30 min ago; Coinbase International: live order book, 48 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, 30 min ago	7.45 bp	53.8 bp −$54	93.0 bp −$930	doesn't fit	doesn't fit
Sell Coinbase International live order book, 48 min ago	19.48 bp	24.5 bp −$24	doesn't fit	doesn't fit	doesn't fit

CFX on 16 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
Aster CFXUSDT	+0.0100%	8h	0.05402	−0.144%	$5K	$43K	5x	as long as short
Binance CFXUSDT	+0.0100%	8h	0.05407	−0.047%	$5.4M	$10.1M	75x	as long as short
Bybit CFXUSDT	+0.0100%	8h	0.05412	+0.037%	$2.4M	$1.4M	25x	as long as short
OKX CFX-USDT-SWAP	+0.0100%	8h	0.05405	−0.092%	$2.6M	$5.7M	20x	as long as short
Gate CFX_USDT	+0.0100%	8h	0.05408	−0.037%	$1.1M	$2.5M	50x	as long as short
MEXC CFX_USDT	+0.0100%	8h	0.05408	−0.037%	$3.0M	$1.7M	125x	as long as short
KuCoin CFXUSDTMlong	+0.0100%	8h	0.05410	long leg	$889K	$283K	75x
Bitget CFXUSDT	+0.0100%	8h	0.05409	−0.018%	$1.6M	$1.4M	75x	as long as short
BingX CFX-USDT	+0.0100%	8h	0.05411	+0.018%	—	$20.1M	—	as long as short
Variational Omni CFX	+0.0100%	8h	0.05408	−0.038%	$43K	$45K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CFX_USDT_Perp	+0.0100%	8h	0.05403	−0.123%	$512K	$1.7M	10x	as long as short
Extended CFX-USD	+0.0104%	1h	0.05407	−0.055%	$869	$268K	10x	as long as short
Coinbase International CFX-PERP-INTXshort	+0.0248%	1h	0.05412	+0.037%	$43K	$125K	50x
Hyperliquid CFX	+0.0725%	1h	0.05420	+0.190%	$3.2M	$360K	5x	as long as short
Kraken Futures PF_CFXUSD	+0.1425%	1h	0.05402	−0.147%	$33K	$11K	20x	as long as short
Deribit CFX_USDC-PERPETUAL	+0.2527%	1h	0.05416	+0.111%	$143	$29	10x	as long as short