KERNEL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.8012%/8h= +877.3% APRnext payment +$40.06 per $10,000 · paid last 24h +0.675%

Price spread now: KuCoin against BingX−0.380%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,227as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,324as in the Price arb table

costs, in and out, $10k−$1,28612.858% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.591%+$59 on $10k

Price spread, last 4 days (all we have)+0.407%+$41 · spread now −0.380%, 7d avg −0.002%

Together, before fees+0.999%+$100 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.378% cheaper against BingX than usual: you would sell low and buy high (spread −0.380% now, against its 7-day average of −0.002%). If the spread goes back, that is −$38 on $10k: about 4 hours of funding at the current rate (+$240 a day). At the pace of the last 7 days (+0.591% in total) that is about 4.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.591% in total (about 30.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$40.06 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX KERNEL-USDT	0.06584	−1.8540	get 0.9270% / 4h	2h 12m	—	$7.0M	—
Short	KuCoin KERNELUSDTM	0.06559	−1.0528	pay 0.5264% / 4h	2h 12m	$264K	$422K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now −0.380%Rate

Funding earned: $1,682.52
Price spread: −0.380% → −0.002%: −$37.82
Slippage, 4 orders: −$1,263.75
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $358.95
Costs to cover: 12.858%
Break-even: 5.5 days

Slippage from BingX: live order book, 11 min ago; KuCoin: live order book, 17 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 BingX live order book, 11 min ago	8.28 bp	29.3 bp −$29	86.0 bp −$860	539.3 bp −$53.9K	doesn't fit
Sell KuCoin live order book, 17 min ago	60.24 bp	875.8 bp −$876	doesn't fit	doesn't fit	doesn't fit

KERNEL on 8 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
Bybit KERNELUSDT	−2.0722%	4h	0.06614	+0.456%	$1.9M	$9.9M	20x	as long as short
BingX KERNEL-USDTlong	−1.8540%	4h	0.06584	long leg	—	$7.0M	—
Variational Omni KERNEL	−1.2327%	4h	0.06680	+1.454%	$11K	$24K	—	as long as short
Gate KERNEL_USDT	−1.1118%	4h	0.06590	+0.091%	$259K	$1.0M	50x	as long as short
KuCoin KERNELUSDTMshort	−1.0528%	4h	0.06559	−0.380%	$264K	$422K	30x
Binance KERNELUSDT	−0.9604%	4h	0.06575	−0.137%	$3.8M	$43.0M	25x	as long as short
MEXC KERNEL_USDT	−0.9486%	4h	0.06584	0.000%	$1.4M	$1.6M	20x	as long as short
Bitget KERNELUSDT	−0.7586%	4h	0.06567	−0.258%	$767K	$4.8M	25x	as long as short