Funding arb · Price arb /

INIT

all INIT markets

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 0.000%

Price spread now: KuCoin against BingX−0.074%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$730as in the Funding arb table

Net, price: spread back to 7d avg − costs−$739as in the Price arb table

costs, in and out, $10k−$7307.298% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now −0.074%, 7d avg +0.016%

Together, before fees+0.078%+$8 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: KuCoin is 0.090% cheaper against BingX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX INIT-USDT	0.08160	0.0100	pay 0.0050% / 4h	1h 51m	—	$6.6M	—
Short	KuCoin INITUSDTM	0.08154	0.0100	get 0.0050% / 4h	1h 51m	$325K	$55K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now −0.074%Rate

Funding earned: $0
Price spread: −0.074% → +0.016%: −$8.98
Slippage, 4 orders: −$707.83
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$738.81
Costs to cover: 7.298%
Break-even: never at this rate

Slippage from BingX: live order book, 15 min ago; KuCoin: live order book, 19 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 BingX live order book, 15 min ago	6.14 bp	32.3 bp −$32	85.8 bp −$858	540.9 bp −$54.1K	813.3 bp −$406.6K
Sell KuCoin live order book, 19 min ago	31.82 bp	408.3 bp −$408	doesn't fit	doesn't fit	doesn't fit

INIT on 13 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
Hyperliquid INIT	+0.0100%	1h	0.08148	−0.153%	$296K	$232K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08157	−0.033%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08154	−0.074%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08141	−0.233%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08143	−0.208%	$132K	$628K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08150	−0.123%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08152	−0.098%	$443K	$215K	20x	as long as short
KuCoin INITUSDTMshort	+0.0100%	4h	0.08154	−0.074%	$325K	$55K	25x
Bitget INITUSDT	+0.0100%	4h	0.08160	0.000%	$426K	$311K	25x	as long as short
BingX INIT-USDTlong	+0.0100%	4h	0.08160	long leg	—	$6.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08146	−0.168%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0155%	4h	0.08156	−0.049%	$153K	$109K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0386%	1h	0.08156	−0.043%	$6K	$17K	10x	as long as short