Funding arb · Price arb /

FORM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.031%

Price spread now: Bybit against KuCoin+0.140%7-day average +0.176% · you sell dearer than you buy

Net, funding: paid 7d − costs−$529as in the Funding arb table

Net, price: spread back to 7d avg − costs−$536as in the Price arb table

costs, in and out, $10k−$5335.326% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+0.241%+$24 · spread now +0.140%, 7d avg +0.176%

Together, before fees+0.273%+$27 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: Bybit is 0.035% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.176%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin FORMUSDTM	0.3563	0.0100	pay 0.0050% / 4h	2h 35m	$345K	$780K	30x
Short	Bybit FORMUSDT	0.3568	0.0100	get 0.0050% / 4h	2h 35m	$2.3M	$11.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.140%Rate

Funding earned: $0
Price spread: +0.140% → +0.176%: −$3.53
Slippage, 4 orders: −$509.61
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$536.14
Costs to cover: 5.326%
Break-even: never at this rate

Slippage from KuCoin: live order book, 47 min ago; Bybit: live order book, 2 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, 47 min ago	27.45 bp	194.7 bp −$195	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.80 bp	77.1 bp −$77	170.4 bp −$1,704	doesn't fit	doesn't fit

FORM 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
gTrade (Gains Network) FORM/USD	L −0.0007% / S +0.0008%	1h	0.3552	−0.311%	—	—	—	as long as short
BingX FORM-USDT	+0.0070%	4h	0.3560	−0.084%	—	$3.4M	—	as long as short
Aster FORMUSDT	+0.0100%	4h	0.3555	−0.220%	$43K	$606K	5x	as long as short
Binance FORMUSDT	+0.0100%	4h	0.3564	+0.028%	$18.7M	$130.4M	50x	as long as short
Bybit FORMUSDTshort	+0.0100%	4h	0.3568	+0.140%	$2.3M	$11.1M	20x
Gate FORM_USDT	+0.0100%	4h	0.3552	−0.309%	$818K	$4.0M	50x	as long as short
MEXC FORM_USDT	+0.0100%	4h	0.3556	−0.196%	$1.8M	$8.0M	100x	as long as short
KuCoin FORMUSDTMlong	+0.0100%	4h	0.3563	long leg	$345K	$780K	30x
Bitget FORMUSDT	+0.0100%	4h	0.3557	−0.168%	$1.1M	$7.6M	50x	as long as short
BloFin FORM-USDT	+0.0157%	4h	0.3543	−0.561%	$1.0M	$343K	50x	as long as short