Funding you earn now, next payment 00:00 UTC−0.1170%/8h= −128.1% APRnext payment −$5.85 per $10,000 · paid last 24h −0.654%
Price spread now: Bybit against KuCoin+0.252%7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$650as in the Funding arb table
Net, price: spread back to 7d avg − costs−$571as in the Price arb table
costs, in and out, $10k−$5935.926% of the position
Funding, last 7 days−0.570%−$57 on $10k
+Price spread, last 4 days (all we have)−0.221%−$22 · spread now +0.252%, 7d avg +0.039%
=The price spread pays, funding is against you. Bybit is 0.212% dearer against KuCoin than usual: you sell high and buy low (spread +0.252% now, against its 7-day average of +0.039%): +$21 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−0.570% in total) that is about 2.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.570% in total (about -29.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.85 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 | KuCoin KERNELUSDTM | 0.04771 | −0.1910 | get 0.0955% / 4h | 37m 42s | $200K | $303K | 30x |
| Short | Bybit KERNELUSDT | 0.04783 | −0.3080 | pay 0.1540% / 4h | 37m 42s | $913K | $5.2M | 20x |
KuCoin KERNELUSDTM
Bybit KERNELUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$245.61
- Price spread: +0.252% → +0.039%
- $21.23
- Slippage, 4 orders
- −$569.56
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$816.94
- Costs to cover
- 5.926%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 23 min ago; Bybit: live order book, 5 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, 23 min ago | 33.51 bp | 289.9 bp −$290 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 6.27 bp | 41.6 bp −$42 | 406.6 bp −$4,066 | 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 KERNELUSDTshort | −0.3080% | 4h | 0.04783 | +0.252% | $913K | $5.2M | 20x | |
| BingX KERNEL-USDT | −0.2768% | 4h | 0.04780 | +0.189% | — | $6.7M | — | as long as short |
| Variational Omni KERNEL | −0.2339% | 4h | 0.04788 | +0.365% | $8K | $14K | — | as long as short |
| KuCoin KERNELUSDTMlong | −0.1910% | 4h | 0.04771 | long leg | $200K | $303K | 30x | |
| Binance KERNELUSDT | −0.1751% | 4h | 0.04778 | +0.147% | $1.6M | $21.1M | 25x | as long as short |
| MEXC KERNEL_USDT | −0.1698% | 4h | 0.04779 | +0.168% | $967K | $712K | 20x | as long as short |
| Bitget KERNELUSDT | −0.1248% | 4h | 0.04778 | +0.147% | $401K | $2.6M | 25x | as long as short |
| Gate KERNEL_USDT | −0.0706% | 4h | 0.04780 | +0.189% | $148K | $548K | 50x | as long as short |
BingX KERNEL-USDT
Variational Omni KERNEL
Binance KERNELUSDT
MEXC KERNEL_USDT
Bitget KERNELUSDT
Gate KERNEL_USDT