Funding arb · Price arb /

INIT

all INIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against KuCoin+0.300%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,611as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,585as in the Price arb table

costs, in and out, $10k−$1,61116.114% of the position

Long on KuCoin Short on OKX

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)−0.158%−$16 · spread now +0.300%, 7d avg +0.033%

Together, before fees−0.158%−$16 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: OKX is 0.267% dearer against KuCoin than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin INITUSDTM	0.08328	0.0100	pay 0.0050% / 4h	2h 21m	$322K	$64K	25x
Short	OKX INIT-USDT-SWAP	0.08353	0.0100	get 0.0050% / 4h	2h 21m	$141K	$747K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.300%Rate

Funding earned: $0
Price spread: +0.300% → +0.033%: $26.69
Slippage, 4 orders: −$1,589.37
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$1,584.67
Costs to cover: 16.114%
Break-even: never at this rate

Slippage from KuCoin: live order book, 36 min ago; OKX: live order book, 24 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, 36 min ago	36.70 bp	1002.7 bp −$1,003	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 24 min ago	4.82 bp	45.6 bp −$46	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	0.08338	+0.118%	$311K	$224K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08320	−0.099%	$28K	$39K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08339	+0.132%	$3.4M	$4.0M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08332	+0.048%	$1.4M	$1.7M	25x	as long as short
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08353	+0.300%	$141K	$747K	10x
Gate INIT_USDT	+0.0100%	8h	0.08316	−0.144%	$81K	$46K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08339	+0.132%	$444K	$210K	20x	as long as short
KuCoin INITUSDTMlong	+0.0100%	4h	0.08328	long leg	$322K	$64K	25x
Bitget INITUSDT	+0.0100%	4h	0.08330	+0.024%	$428K	$347K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08336	+0.096%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08270	−0.695%	$26K	$14K	—	as long as short
Kraken Futures PF_INITUSD	+0.0113%	1h	0.08310	−0.212%	$5K	$24K	10x	as long as short
BloFin INIT-USDT	+0.0157%	4h	0.08289	−0.468%	$152K	$109K	25x	as long as short