Funding arb · Price arb /

HEI

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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 +0.040%

Price spread now: Gate against KuCoin+0.215%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,038as in the Funding arb table

Net, price: spread back to 7d avg − costs−$976as in the Price arb table

costs, in and out, $10k−$1,00010.003% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.377%−$38 on $10k

Price spread, last 4 days (all we have)−0.155%−$15 · spread now +0.215%, 7d avg −0.030%

Together, before fees−0.531%−$53 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: Gate is 0.244% dearer against KuCoin than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin HEIUSDTM	0.1538	0.0100	pay 0.0050% / 4h	28m 13s	$901K	$361K	10x
Short	Gate HEI_USDT	0.1541	0.0100	get 0.0050% / 4h	28m 13s	$279K	$463K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.215%Rate

Funding earned: $0
Price spread: +0.215% → −0.030%: $24.43
Slippage, 4 orders: −$973.32
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$975.89
Costs to cover: 10.003%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; Gate: live order book, 27 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, 11 min ago	12.69 bp	500.9 bp −$501	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 27 min ago	14.33 bp	42.1 bp −$42	doesn't fit	doesn't fit	doesn't fit

HEI on 9 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
Gate HEI_USDTshort	+0.0100%	4h	0.1541	+0.215%	$279K	$463K	10x
KuCoin HEIUSDTMlong	+0.0100%	4h	0.1538	long leg	$901K	$361K	10x
Variational Omni HEI	+0.0100%	4h	0.1544	+0.373%	$14K	$1	—	as long as short
MEXC HEI_USDT	+0.0194%	4h	0.1540	+0.124%	$1.8M	$396K	20x	as long as short
edgeX HEIUSDC	+0.0195%	4h	0.1543	+0.320%	$13K	$257K	10x	as long as short
Binance HEIUSDT	+0.0201%	4h	0.1540	+0.091%	$3.5M	$6.7M	10x	as long as short
Aster HEIUSDT	+0.0419%	4h	0.1538	−0.023%	$20K	$55K	5x	as long as short
BingX HEI-USDT	+0.1624%	4h	0.1539	+0.085%	—	$1.3M	—	as long as short
Bybit HEIUSDT	+0.1720%	4h	0.1539	+0.033%	$1.4M	$610K	5x	as long as short