Funding arb · Price arb /

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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: Bybit against KuCoin+0.014%7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$369as in the Funding arb table

Net, price: spread back to 7d avg − costs−$349as in the Price arb table

costs, in and out, $10k−$3573.568% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now +0.014%, 7d avg −0.069%

Together, before fees−0.110%−$11 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 0.082% dearer against KuCoin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IOUSDTM	0.1478	0.0100	pay 0.0050% / 4h	2h 22m	$346K	$624K	50x
Short	Bybit IOUSDT	0.1478	0.0100	get 0.0050% / 4h	2h 22m	$1.1M	$904K	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 +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.069%: $8.21
Slippage, 4 orders: −$333.77
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$348.56
Costs to cover: 3.568%
Break-even: never at this rate

Slippage from KuCoin: live order book, 36 min ago; Bybit: live order book, 3 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	6.71 bp	99.3 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	6.77 bp	79.6 bp −$80	373.5 bp −$3,735	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
BloFin IO-USDT	+0.0055%	4h	0.1481	+0.203%	$191K	$38K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1480	+0.149%	$983K	$363K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1479	+0.096%	$23K	$47K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1480	+0.163%	$2.9M	$6.5M	50x	as long as short
Bybit IOUSDTshort	+0.0100%	4h	0.1478	+0.014%	$1.1M	$904K	25x
Gate IO_USDT	+0.0100%	4h	0.1477	−0.041%	$226K	$482K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1478	0.000%	$1.2M	$236K	125x	as long as short
KuCoin IOUSDTMlong	+0.0100%	4h	0.1478	long leg	$346K	$624K	50x
Bitget IOUSDT	+0.0100%	4h	0.1481	+0.203%	$1.4M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1479	+0.068%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1476	−0.152%	$28K	$18K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1479	+0.097%	$2K	$219K	5x	as long as short
Injective IO/USDC PERP	+0.0619%	1h	0.1484	+0.406%	$2K	$200	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.7808%	1h	0.1471	−0.444%	$38K	$9K	10x	as long as short