Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0256%/8h= +28.0% APRpaid last 24h +0.120%

Price spread now: KuCoin against Coinbase International+0.059%7-day average −0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$620.619% 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+0.146%+$15 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.059%, 7d avg −0.084%

Together, before fees+0.086%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and KuCoin is 0.143% dearer against Coinbase International than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.084%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.146% in total (about 7.6% 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 FIL-PERP-INTX	1.0086	−0.0240	get 0.0030% / 1h	51m 54s	$369K	$2.2M	50x
Short	KuCoin FILUSDTM	1.0092	0.0016	get 0.0016% / 8h	3h 51m	$7.4M	$7.6M	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 +0.059%Rate

Funding earned: $53.76
Price spread: +0.059% → −0.084%: $14.33
Slippage, 4 orders: −$39.95
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $6.14
Costs to cover: 0.619%
Break-even: 6.2 days

Slippage from Coinbase International: live order book, 2 min ago; KuCoin: live order book, 1 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, 2 min ago	5.46 bp	13.4 bp −$13	20.7 bp −$207	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	1.99 bp	14.3 bp −$14	37.4 bp −$374	doesn't fit	doesn't fit

FIL 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
Coinbase International FIL-PERP-INTXlong	−0.0240%	1h	1.0086	long leg	$369K	$2.2M	50x
Deribit FIL_USDC-PERPETUAL	−0.0047%	1h	1.0092	+0.059%	$174K	$23K	25x	as long as short
OKX FIL-USDT-SWAP	−0.0024%	8h	1.0085	−0.010%	$18.7M	$106.4M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	1.0091	+0.053%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	1.0080	−0.058%	$59K	$2K	10x	as long as short
KuCoin FILUSDTMshort	+0.0016%	8h	1.0092	+0.059%	$7.4M	$7.6M	50x
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−2.290%	$2K	$240K	12x	as long as short
Kraken Futures PF_FILUSD	+0.0066%	1h	1.0092	+0.057%	$1.4M	$2.3M	50x	as long as short
Lighter FIL	+0.0096%	1h	1.0082	−0.039%	$155K	$354K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	1.0093	+0.069%	$8.5M	$9.4M	5x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster FILUSDT	+0.0100%	8h	1.0093	+0.067%	$517K	$608K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	1.0089	+0.026%	$58.1M	$183.8M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	1.0085	−0.010%	$16.0M	$20.2M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	1.0087	+0.010%	$8.6M	$16.7M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	1.0084	−0.020%	$244K	$102K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	1.0084	−0.020%	$11.3M	$20.3M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	1.0087	+0.010%	—	$11.8M	—	as long as short
Variational Omni FIL	+0.0100%	8h	1.0017	−0.687%	$451K	$264K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	1.0036	−0.499%	$46K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9997	−0.886%	$289K	$1.0M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	1.0050	−0.357%	$31K	$181K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	1.0099	+0.125%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	1.0090	+0.040%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	1.0085	−0.010%	$489	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	1.0097	+0.109%	$630K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	1.0080	−0.059%	$1.2M	$2.5M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	1.0086	+0.003%	$711K	$3.3M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	1.0060	−0.258%	$2.7M	$670K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0577% / S −0.0237%	1h	1.0092	+0.056%	$269K	—	100x	as long as short