Funding arb · Price arb /

H

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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 +0.017%

Price spread now: Bybit against KuCoin−0.126%7-day average −0.200% · you buy dearer than you sell

Net, funding: paid 7d − costs−$840as in the Funding arb table

Net, price: spread back to 7d avg − costs−$808as in the Price arb table

costs, in and out, $10k−$8158.153% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.242%−$24 on $10k

Price spread, last 7 days−0.149%−$15 · spread now −0.126%, 7d avg −0.200%

Together, before fees−0.392%−$39 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 0.074% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.200%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HUSDTM	0.06880	0.0100	pay 0.0050% / 4h	1h 35m	$1.6M	$10.0M	8x
Short	Bybit HUSDT	0.06871	0.0100	get 0.0050% / 4h	1h 35m	$7.5M	$4.6M	13x

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 −0.126%Rate

Funding earned: $0
Price spread: −0.126% → −0.200%: $7.38
Slippage, 4 orders: −$792.33
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$807.95
Costs to cover: 8.153%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 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, 3 min ago	2.91 bp	313.8 bp −$314	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.91 bp	40.9 bp −$41	187.4 bp −$1,874	doesn't fit	doesn't fit

H on 14 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 H/USDC PERP	+0.0033%	1h	0.06250	−9.157%	$1K	$1	5.5x	as long as short
BloFin H-USDT	+0.0075%	4h	0.06897	+0.247%	$584K	$115K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.06891	+0.160%	$114K	$53K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06883	+0.051%	$14.8M	$10.6M	10x	as long as short
Bybit HUSDTshort	+0.0100%	4h	0.06871	−0.126%	$7.5M	$4.6M	13x
OKX H-USDT-SWAP	+0.0100%	4h	0.06888	+0.116%	$1.7M	$5.8M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.06876	−0.058%	$2.8M	$1.9M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06886	+0.087%	$6.2M	$1.1M	20x	as long as short
KuCoin HUSDTMlong	+0.0100%	4h	0.06880	long leg	$1.6M	$10.0M	8x
Bitget HUSDT	+0.0100%	4h	0.06880	0.000%	$1.7M	$456K	4x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX H-USDT	+0.0100%	4h	0.06887	+0.102%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06886	+0.090%	$8K	$10K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06889	+0.131%	$1.1M	$450K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06885	+0.073%	$11K	$107K	5x	as long as short