Funding arb · Price arb /

DRIFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX−0.336%7-day average −0.193% · you buy dearer than you sell

Net, funding: paid 7d − costs−$978as in the Funding arb table

Net, price: spread back to 7d avg − costs−$991as in the Price arb table

costs, in and out, $10k−$9779.766% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.237%+$24 · spread now −0.336%, 7d avg −0.193%

Together, before fees+0.219%+$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.143% cheaper against BingX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.193%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX DRIFT-USDT	0.01786	0.0100	pay 0.0050% / 4h	27m 09s	—	$6.6M	—
Short	KuCoin DRIFTUSDTM	0.01780	0.0100	get 0.0050% / 4h	27m 09s	$695K	$122K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now −0.336%Rate

Funding earned: $0
Price spread: −0.336% → −0.193%: −$14.33
Slippage, 4 orders: −$954.65
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$990.97
Costs to cover: 9.766%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; KuCoin: live order book, 57 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 BingX live order book, 10 min ago	8.48 bp	42.1 bp −$42	236.6 bp −$2,366	787.0 bp −$78.7K	doesn't fit
Sell KuCoin live order book, 57 min ago	11.42 bp	316.6 bp −$317	doesn't fit	doesn't fit	doesn't fit

DRIFT on 10 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
Injective DRIFT/USDC PERP	+0.0033%	1h	0.01591	−10.918%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0087%	4h	0.01787	+0.056%	$159K	$10K	20x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01788	+0.089%	$2.4M	$6.6M	20x	as long as short
Bybit DRIFTUSDT	+0.0100%	4h	0.01783	−0.196%	$2.4M	$2.8M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01782	−0.224%	$125K	$237K	10x	as long as short
MEXC DRIFT_USDT	+0.0100%	4h	0.01783	−0.168%	$423K	$167K	20x	as long as short
KuCoin DRIFTUSDTMshort	+0.0100%	4h	0.01780	−0.336%	$695K	$122K	20x
Bitget DRIFTUSDT	+0.0100%	4h	0.01784	−0.112%	$550K	$363K	10x	as long as short
BingX DRIFT-USDTlong	+0.0100%	4h	0.01786	long leg	—	$6.6M	—
Variational Omni DRIFT	+0.0100%	4h	0.01770	−0.913%	$24K	$6K	—	as long as short