Funding arb · Price arb /

MAGIC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against OKX+0.101%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$323as in the Funding arb table

Net, price: spread back to 7d avg − costs−$306as in the Price arb table

costs, in and out, $10k−$3193.189% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.101%, 7d avg −0.032%

Together, before fees−0.174%−$17 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: KuCoin is 0.133% dearer against OKX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MAGIC-USDT-SWAP	0.04974	0.0100	pay 0.0050% / 4h	26m 36s	$471K	$735K	20x
Short	KuCoin MAGICUSDTM	0.04979	0.0100	get 0.0050% / 4h	26m 36s	$182K	$25K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now +0.101%Rate

Funding earned: $0
Price spread: +0.101% → −0.032%: $13.26
Slippage, 4 orders: −$296.89
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$305.63
Costs to cover: 3.189%
Break-even: never at this rate

Slippage from OKX: live order book, 29 min ago; KuCoin: live order book, 53 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 OKX live order book, 29 min ago	3.02 bp	21.3 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 53 min ago	13.02 bp	150.4 bp −$150	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
BloFin MAGIC-USDT	+0.0044%	4h	0.04986	+0.241%	$84K	$7K	50x	as long as short
Binance MAGICUSDT	+0.0100%	4h	0.04978	+0.080%	$1.6M	$1.6M	50x	as long as short
Bybit MAGICUSDT	+0.0100%	4h	0.04982	+0.161%	$512K	$146K	25x	as long as short
OKX MAGIC-USDT-SWAPlong	+0.0100%	4h	0.04974	long leg	$471K	$735K	20x
Gate MAGIC_USDT	+0.0100%	8h	0.04975	+0.020%	$126K	$26K	50x	as long as short
MEXC MAGIC_USDT	+0.0100%	4h	0.04983	+0.181%	$201K	$117K	50x	as long as short
KuCoin MAGICUSDTMshort	+0.0100%	4h	0.04979	+0.101%	$182K	$25K	25x
Bitget MAGICUSDT	+0.0100%	4h	0.04985	+0.221%	$425K	$77K	25x	as long as short
BingX MAGIC-USDT	+0.0100%	4h	0.04981	+0.141%	—	$2.3M	—	as long as short
Variational Omni MAGIC	+0.0100%	4h	0.04980	+0.123%	$8K	$555	—	as long as short