MAGIC

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0028%/8h= −3.1% APRnext payment −$0.14 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX0.000%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$350as in the Funding arb table

Net, price: spread back to 7d avg − costs−$340as in the Price arb table

costs, in and out, $10k−$3433.431% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now 0.000%, 7d avg −0.032%

Together, before fees−0.058%−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.032% dearer against BingX than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.032%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MAGIC-USDT	0.04941	0.0128	pay 0.0064% / 4h	2h 41m	—	$2.3M	—
Short	KuCoin MAGICUSDTM	0.04941	0.0100	get 0.0050% / 4h	2h 41m	$184K	$26K	25x

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 0.000%Rate

Funding earned: −$5.88
Price spread: 0.000% → −0.032%: $3.18
Slippage, 4 orders: −$321.06
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$345.76
Costs to cover: 3.431%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; KuCoin: live order book, 15 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, 3 min ago	3.03 bp	19.2 bp −$19	49.1 bp −$491	479.3 bp −$47.9K	556.6 bp −$278.3K
Sell KuCoin live order book, 15 min ago	9.07 bp	165.7 bp −$166	doesn't fit	doesn't fit	doesn't fit

MAGIC on 10 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
Binance MAGICUSDT	+0.0100%	4h	0.04938	−0.070%	$1.6M	$1.6M	50x	as long as short
Bybit MAGICUSDT	+0.0100%	4h	0.04938	−0.061%	$507K	$149K	25x	as long as short
OKX MAGIC-USDT-SWAP	+0.0100%	4h	0.04927	−0.283%	$468K	$708K	20x	as long as short
Gate MAGIC_USDT	+0.0100%	8h	0.04939	−0.040%	$126K	$24K	50x	as long as short
MEXC MAGIC_USDT	+0.0100%	4h	0.04938	−0.061%	$199K	$113K	50x	as long as short
KuCoin MAGICUSDTMshort	+0.0100%	4h	0.04941	0.000%	$184K	$26K	25x
Variational Omni MAGIC	+0.0100%	4h	0.04938	−0.056%	$8K	$555	—	as long as short
BloFin MAGIC-USDT	+0.0101%	4h	0.04942	+0.020%	$83K	$6K	50x	as long as short
Bitget MAGICUSDT	+0.0118%	4h	0.04939	−0.040%	$423K	$79K	25x	as long as short
BingX MAGIC-USDTlong	+0.0128%	4h	0.04941	long leg	—	$2.3M	—