Funding arb · Price arb /

MAGIC

all MAGIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Gate against KuCoin+0.081%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$479as in the Funding arb table

Net, price: spread back to 7d avg − costs−$474as in the Price arb table

costs, in and out, $10k−$4804.797% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.208%−$21 · spread now +0.081%, 7d avg +0.019%

Together, before fees−0.198%−$20 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: Gate is 0.062% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MAGICUSDTM	0.04953	0.0100	pay 0.0050% / 4h	2h 54m	$179K	$25K	25x
Short	Gate MAGIC_USDT	0.04957	0.0100	get 0.0100% / 8h	6h 54m	$125K	$26K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.081%Rate

Funding earned: $0
Price spread: +0.081% → +0.019%: $6.2
Slippage, 4 orders: −$452.71
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$473.5
Costs to cover: 4.797%
Break-even: never at this rate

Slippage from KuCoin: live order book, 49 min ago; Gate: live order book, 6 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, 49 min ago	15.94 bp	236.7 bp −$237	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	3.01 bp	51.1 bp −$51	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	0.04946	−0.141%	$1.6M	$1.7M	50x	as long as short
Bybit MAGICUSDT	+0.0100%	4h	0.04944	−0.182%	$508K	$149K	25x	as long as short
OKX MAGIC-USDT-SWAP	+0.0100%	4h	0.04942	−0.222%	$475K	$735K	20x	as long as short
Gate MAGIC_USDTshort	+0.0100%	8h	0.04957	+0.081%	$125K	$26K	50x
MEXC MAGIC_USDT	+0.0100%	4h	0.04943	−0.202%	$208K	$117K	50x	as long as short
KuCoin MAGICUSDTMlong	+0.0100%	4h	0.04953	long leg	$179K	$25K	25x
Bitget MAGICUSDT	+0.0100%	4h	0.04952	−0.020%	$419K	$85K	25x	as long as short
BingX MAGIC-USDT	+0.0100%	4h	0.04943	−0.202%	—	$2.3M	—	as long as short
Variational Omni MAGIC	+0.0100%	4h	0.04947	−0.127%	$8K	$555	—	as long as short
BloFin MAGIC-USDT	+0.0160%	4h	0.04940	−0.262%	$84K	$6K	50x	as long as short