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: Bybit against KuCoin+0.194%7-day average −0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,058as 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−$1,05410.537% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 4 days (all we have)−0.247%−$25 · spread now +0.194%, 7d avg −0.099%

Together, before fees−0.294%−$29 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 0.294% dearer against KuCoin than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of −0.099%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin INITUSDTM	0.08228	0.0100	pay 0.0050% / 4h	10m 16s	$328K	$54K	25x
Short	Bybit INITUSDT	0.08244	0.0100	get 0.0050% / 4h	10m 16s	$1.4M	$1.4M	25x

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 +0.194%Rate

Funding earned: $0
Price spread: +0.194% → −0.099%: $29.37
Slippage, 4 orders: −$1,030.71
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,024.34
Costs to cover: 10.537%
Break-even: never at this rate

Slippage from KuCoin: live order book, 51 min ago; Bybit: live order book, 1 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, 51 min ago	19.57 bp	586.2 bp −$586	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	4.86 bp	44.1 bp −$44	177.0 bp −$1,770	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
BloFin INIT-USDT	+0.0078%	4h	0.08217	−0.134%	$153K	$111K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08241	+0.159%	$300K	$233K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08237	+0.112%	$27K	$37K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08248	+0.249%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDTshort	+0.0100%	4h	0.08244	+0.194%	$1.4M	$1.4M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08247	+0.231%	$134K	$638K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08231	+0.036%	$84K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08244	+0.194%	$448K	$220K	20x	as long as short
KuCoin INITUSDTMlong	+0.0100%	4h	0.08228	long leg	$328K	$54K	25x
Bitget INITUSDT	+0.0100%	4h	0.08238	+0.122%	$430K	$311K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08246	+0.219%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08213	−0.185%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSD	+0.0494%	1h	0.08246	+0.223%	$5K	$17K	10x	as long as short