Funding arb · Price arb /

MAGIC

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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: Binance against KuCoin−0.041%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$318as in the Funding arb table

Net, price: spread back to 7d avg − costs−$328as in the Price arb table

costs, in and out, $10k−$3253.248% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.041%, 7d avg −0.014%

Together, before fees+0.050%+$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: Binance is 0.027% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MAGICUSDTM	0.04985	0.0100	pay 0.0050% / 4h	3h 32m	$186K	$26K	25x
Short	Binance MAGICUSDT	0.04983	0.0100	get 0.0050% / 4h	3h 32m	$1.6M	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.014%: −$2.73
Slippage, 4 orders: −$302.83
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$327.55
Costs to cover: 3.248%
Break-even: never at this rate

Slippage from KuCoin: live order book, 38 min ago; Binance: live order book, 16 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, 38 min ago	8.01 bp	140.5 bp −$140	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	1.00 bp	18.2 bp −$18	84.3 bp −$843	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
BloFin MAGIC-USDT	+0.0096%	4h	0.04978	−0.140%	$83K	$7K	50x	as long as short
Binance MAGICUSDTshort	+0.0100%	4h	0.04983	−0.041%	$1.6M	$1.6M	50x
Bybit MAGICUSDT	+0.0100%	4h	0.04980	−0.100%	$513K	$146K	25x	as long as short
OKX MAGIC-USDT-SWAP	+0.0100%	4h	0.04976	−0.181%	$469K	$725K	20x	as long as short
MEXC MAGIC_USDT	+0.0100%	4h	0.04982	−0.060%	$201K	$116K	50x	as long as short
KuCoin MAGICUSDTMlong	+0.0100%	4h	0.04985	long leg	$186K	$26K	25x
Bitget MAGICUSDT	+0.0100%	4h	0.04988	+0.060%	$426K	$77K	25x	as long as short
BingX MAGIC-USDT	+0.0100%	4h	0.04979	−0.120%	—	$2.3M	—	as long as short
Variational Omni MAGIC	+0.0100%	4h	0.04981	−0.078%	$8K	$555	—	as long as short
Gate MAGIC_USDT	+0.0149%	8h	0.04980	−0.100%	$126K	$26K	50x	as long as short