Funding arb · Price arb /

INIT

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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 0.000%

Price spread now: BingX against KuCoin−0.049%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,020as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,024as in the Price arb table

costs, in and out, $10k−$1,02010.204% of the position

Long on KuCoin Short on BingX

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)+0.075%+$8 · spread now −0.049%, 7d avg −0.015%

Together, before fees+0.075%+$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: BingX is 0.034% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin INITUSDTM	0.08194	0.0100	pay 0.0050% / 4h	31m 41s	$326K	$54K	25x
Short	BingX INIT-USDT	0.08190	0.0100	get 0.0050% / 4h	31m 41s	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → −0.015%: −$3.36
Slippage, 4 orders: −$998.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1,023.76
Costs to cover: 10.204%
Break-even: never at this rate

Slippage from KuCoin: live order book, 30 min ago; BingX: live order book, 5 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, 30 min ago	19.57 bp	586.2 bp −$586	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	5.50 bp	24.0 bp −$24	75.9 bp −$759	489.1 bp −$48.9K	776.5 bp −$388.2K

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	0.08190	−0.046%	$298K	$233K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08190	−0.050%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08194	0.000%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08179	−0.183%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08189	−0.061%	$133K	$633K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08183	−0.134%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08192	−0.024%	$445K	$219K	20x	as long as short
KuCoin INITUSDTMlong	+0.0100%	4h	0.08194	long leg	$326K	$54K	25x
Bitget INITUSDT	+0.0100%	4h	0.08186	−0.098%	$427K	$310K	25x	as long as short
BingX INIT-USDTshort	+0.0100%	4h	0.08190	−0.049%	—	$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	0.08176	−0.225%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0133%	4h	0.08195	+0.012%	$154K	$110K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0498%	1h	0.08185	−0.106%	$5K	$17K	10x	as long as short