Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.3439%/8h= −376.6% APRpaid last 24h −0.202%

Price spread now: Deribit against KuCoin+0.112%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$650.645% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.943%−$94 on $10k

Price spread, last 4 days (all we have)−0.145%−$14 · spread now +0.112%, 7d avg +0.055%

Together, before fees−1.087%−$109 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.056% dearer against KuCoin than usual: you sell high and buy low (spread +0.112% now, against its 7-day average of +0.055%): +$6 on $10k if it goes back. Holding the pair costs −$103 a day in funding at the current rate, which eats that in about 1 hour. At the pace of the last 7 days (−0.943% in total) that is about 10 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.943% in total (about -49.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin DOTUSDTM	1.1649	0.0100	pay 0.0100% / 8h	2h 23m	$6.1M	$9.4M	75x
Short	Deribit DOT_USDC-PERPETUAL	1.1662	−0.3339	pay 0.0417% / 1h	23m 19s	$235K	$136K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$722.19
Price spread: +0.112% → +0.055%: $5.62
Slippage, 4 orders: −$45.55
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$781.12
Costs to cover: 0.645%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Deribit: live order book, 25 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, 5 min ago	3.45 bp	17.7 bp −$18	46.4 bp −$464	doesn't fit	doesn't fit
Sell Deribit live order book, 25 min ago	6.79 bp	13.7 bp −$14	27.2 bp −$272	doesn't fit	doesn't fit

DOT on 29 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
Deribit DOT_USDC-PERPETUALshort	−0.3339%	1h	1.1662	+0.112%	$235K	$136K	50x
Coinbase International DOT-PERP-INTX	−0.0864%	1h	1.1660	+0.094%	$169K	$2.0M	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1644	−0.040%	$252	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1662	+0.109%	$140K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1651	+0.017%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+3.185%	$328	$121K	12x	as long as short
Kraken Futures PF_DOTUSD	+0.0092%	1h	1.1665	+0.134%	$4.3M	$1.4M	50x	as long as short
Lighter DOT	+0.0096%	1h	1.1658	+0.077%	$251K	$666K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1649	0.000%	$5.2M	$3.5M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1647	−0.014%	$833K	$602K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1651	+0.018%	$42.5M	$87.5M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1647	−0.017%	$23.6M	$19.9M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1654	+0.043%	$9.1M	$25.0M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1650	+0.009%	$6.6M	$12.6M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1648	−0.009%	$29.6M	$58.2M	300x	as long as short
KuCoin DOTUSDTMlong	+0.0100%	8h	1.1649	long leg	$6.1M	$9.4M	75x
Bitget DOTUSDT	+0.0100%	8h	1.1650	+0.009%	$22.2M	$14.8M	75x	as long as short
BingX DOT-USDT	+0.0100%	8h	1.1649	0.000%	—	$29.8M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1668	+0.163%	$91K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1614	−0.304%	$528K	$51K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1592	−0.490%	$34K	$334K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1650	+0.009%	$223K	$419K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1660	+0.094%	$8K	$19K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1673	+0.206%	$1K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1652	+0.026%	$262K	$274K	75x	as long as short
Phemex DOTUSDT	+0.0100%	8h	1.1670	+0.180%	$2.3M	$2.2M	50x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1649	−0.002%	$13K	$248K	25x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1653	+0.034%	$2.1M	$905K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0291% / S −0.0937%	1h	1.1651	+0.020%	$20K	—	100x	as long as short