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: BingX against KuCoin−0.162%7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$336as in the Funding arb table

Net, price: spread back to 7d avg − costs−$362as in the Price arb table

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

Long on KuCoin Short on BingX

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)+0.151%+$15 · spread now −0.162%, 7d avg +0.032%

Together, before fees+0.220%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.194% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.162% now, against its 7-day average of +0.032%). If the spread goes back, that is −$19 on $10k: about 23 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MAGICUSDTM	0.04937	0.0100	pay 0.0050% / 4h	2h 39m	$184K	$26K	25x
Short	BingX MAGIC-USDT	0.04929	0.0128	get 0.0064% / 4h	2h 39m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.162%Rate

Funding earned: $5.88
Price spread: −0.162% → +0.032%: −$19.38
Slippage, 4 orders: −$321.06
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$356.56
Costs to cover: 3.431%
Break-even: 431.5 days

Slippage from KuCoin: live order book, 16 min ago; BingX: live order book, 4 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, 16 min ago	9.07 bp	139.4 bp −$139	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	3.03 bp	18.8 bp −$19	54.9 bp −$549	416.9 bp −$41.7K	474.8 bp −$237.4K

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	0.04933	−0.078%	$1.6M	$1.6M	50x	as long as short
Bybit MAGICUSDT	+0.0100%	4h	0.04933	−0.081%	$506K	$149K	25x	as long as short
OKX MAGIC-USDT-SWAP	+0.0100%	4h	0.04924	−0.263%	$468K	$708K	20x	as long as short
Gate MAGIC_USDT	+0.0100%	8h	0.04936	−0.020%	$126K	$25K	50x	as long as short
MEXC MAGIC_USDT	+0.0100%	4h	0.04930	−0.142%	$199K	$113K	50x	as long as short
KuCoin MAGICUSDTMlong	+0.0100%	4h	0.04937	long leg	$184K	$26K	25x
Variational Omni MAGIC	+0.0100%	4h	0.04938	+0.025%	$8K	$555	—	as long as short
BloFin MAGIC-USDT	+0.0101%	4h	0.04942	+0.101%	$83K	$6K	50x	as long as short
Bitget MAGICUSDT	+0.0112%	4h	0.04936	−0.020%	$422K	$80K	25x	as long as short
BingX MAGIC-USDTshort	+0.0128%	4h	0.04929	−0.162%	—	$2.3M	—