Funding arb · Price arb /

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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: KuCoin against Bitget−0.197%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$215as in the Funding arb table

Net, price: spread back to 7d avg − costs−$227as in the Price arb table

costs, in and out, $10k−$2142.137% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now −0.197%, 7d avg −0.061%

Together, before fees+0.047%+$5 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 0.136% cheaper against Bitget than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IOUSDT	0.1522	0.0100	pay 0.0050% / 4h	57m 06s	$1.3M	$1.2M	50x
Short	KuCoin IOUSDTM	0.1519	0.0100	get 0.0050% / 4h	57m 06s	$388K	$658K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bitget. 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 BitgetbpFee KuCoinbpOrdersPrice spread, now −0.197%Rate

Funding earned: $0
Price spread: −0.197% → −0.061%: −$13.64
Slippage, 4 orders: −$189.75
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$227.39
Costs to cover: 2.137%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; KuCoin: live order book, 6 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 Bitget live order book, 4 min ago	3.29 bp	19.5 bp −$19	176.2 bp −$1,762	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	6.60 bp	71.3 bp −$71	576.7 bp −$5,767	doesn't fit	doesn't fit

IO on 14 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
Injective IO/USDC PERP	−0.0159%	1h	0.1514	−0.526%	$2K	$102	5.5x	as long as short
BloFin IO-USDT	+0.0060%	4h	0.1519	−0.197%	$193K	$31K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1519	−0.184%	$1.0M	$387K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1521	−0.034%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1520	−0.131%	$3.0M	$6.5M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1518	−0.263%	$1.1M	$880K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1520	−0.112%	$245K	$547K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1519	−0.197%	$1.1M	$224K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1519	−0.197%	$388K	$658K	50x
Bitget IOUSDTlong	+0.0100%	4h	0.1522	long leg	$1.3M	$1.2M	50x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IO-USDT	+0.0100%	4h	0.1519	−0.197%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1516	−0.408%	$30K	$5K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1522	−0.022%	$5K	$171K	5x	as long as short
Kraken Futures PF_IOUSD	+1.2533%	1h	0.1522	−0.018%	$39K	$21K	10x	as long as short