Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0828%/8h= +90.7% APRpaid last 24h −0.007%

Price spread now: KuCoin against Coinbase International+0.147%7-day average −0.314% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1451.449% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.224%+$22 on $10k

Price spread, last 3 days (all we have)−0.242%−$24 · spread now +0.147%, 7d avg −0.314%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and KuCoin is 0.461% dearer against Coinbase International than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of −0.314%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.224% in total (about 11.7% 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	Coinbase International FET-PERP-INTX	0.2043	−0.0728	get 0.0091% / 1h	0m 57s	$152K	$207K	50x
Short	KuCoin FETUSDTM	0.2046	0.0100	get 0.0100% / 8h	0m 57s	$10.8M	$19.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +0.147%Rate

Funding earned: $173.88
Price spread: +0.147% → −0.314%: $46.13
Slippage, 4 orders: −$122.9
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $75.12
Costs to cover: 1.449%
Break-even: 4.0 days

Slippage from Coinbase International: live order book, 12 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 Coinbase International live order book, 12 min ago	7.34 bp	52.8 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	2.44 bp	16.7 bp −$17	62.4 bp −$624	doesn't fit	doesn't fit

FET on 20 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 FET_USDC-PERPETUAL	−0.2191%	1h	0.2043	0.000%	$29K	$202K	10x	as long as short
Coinbase International FET-PERP-INTXlong	−0.0728%	1h	0.2043	long leg	$152K	$207K	50x
Kraken Futures PF_FETUSD	−0.0477%	1h	0.2046	+0.165%	$999K	$2.2M	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0013%	1h	0.2042	−0.066%	$32K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−1.615%	$3K	$166K	12x	as long as short
Gate FET_USDT	+0.0064%	8h	0.2044	+0.049%	$2.8M	$12.2M	50x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2046	+0.127%	$340K	$544K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2046	+0.140%	$31.9M	$109.4M	75x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2045	+0.098%	$34.5M	$25.1M	200x	as long as short
KuCoin FETUSDTMshort	+0.0100%	8h	0.2046	+0.147%	$10.8M	$19.2M	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni FET	+0.0100%	8h	0.2042	−0.038%	$359K	$399K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2041	−0.098%	$38K	$6K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2045	+0.088%	$33K	$191K	10x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0201% / S −0.0278%	1h	0.2041	−0.089%	$14K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	0.2045	+0.098%	$1.7M	$2.7M	100x	as long as short
BingX FET-USDT	+0.0286%	8h	0.2045	+0.098%	—	$5.7M	—	as long as short
OKX FET-USDT-SWAP	+0.0293%	4h	0.2048	+0.245%	$999K	$8.0M	20x	as long as short
Bitget FETUSDT	+0.0304%	8h	0.2044	+0.049%	$16.5M	$11.6M	75x	as long as short
Hyperliquid FET	+0.0412%	1h	0.2048	+0.225%	$9.0M	$8.0M	5x	as long as short
Phoenix FET	+0.0508%	1h	0.2043	+0.005%	$36K	$45K	5x	as long as short