Funding arb · Price arb /

MAGMA

all MAGMA markets

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 Bybit−0.801%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$309as in the Funding arb table

Net, price: spread back to 7d avg − costs−$402as in the Price arb table

costs, in and out, $10k−$3303.304% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.211%+$21 on $10k

Price spread, last 4 days (all we have)+0.930%+$93 · spread now −0.801%, 7d avg −0.085%

Together, before fees+1.141%+$114 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 0.716% cheaper against Bybit than usual: you would sell low and buy high, −$72 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MAGMAUSDT	0.2347	0.0100	pay 0.0050% / 4h	24m 12s	$1.7M	$1.2M	20x
Short	KuCoin MAGMAUSDTM	0.2329	0.0100	get 0.0050% / 4h	24m 12s	$271K	$30K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now −0.801%Rate

Funding earned: $0
Price spread: −0.801% → −0.085%: −$71.61
Slippage, 4 orders: −$307.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$401.96
Costs to cover: 3.304%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; KuCoin: live order book, 57 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 Bybit live order book, 2 min ago	4.28 bp	61.7 bp −$62	1031.6 bp −$10.3K	doesn't fit	doesn't fit
Sell KuCoin live order book, 57 min ago	37.00 bp	98.2 bp −$98	doesn't fit	doesn't fit	doesn't fit

MAGMA 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
Bybit MAGMAUSDTlong	+0.0100%	4h	0.2347	long leg	$1.7M	$1.2M	20x
KuCoin MAGMAUSDTMshort	+0.0100%	4h	0.2329	−0.801%	$271K	$30K	20x
Variational Omni MAGMA	+0.0100%	4h	0.2337	−0.440%	$11K	$3K	—	as long as short
Bitget MAGMAUSDT	+0.0226%	4h	0.2349	+0.089%	$2.3M	$958K	20x	as long as short
BingX MAGMA-USDT	+0.0276%	4h	0.2351	+0.153%	—	$1.3M	—	as long as short
MEXC MAGMA_USDT	+0.0282%	4h	0.2348	+0.021%	$11.6M	$264K	50x	as long as short
Binance MAGMAUSDT	+0.0308%	4h	0.2348	+0.043%	$4.6M	$7.2M	20x	as long as short
Extended MAGMA-USD	+0.0312%	1h	0.2347	−0.014%	$985	—	5x	as long as short
Gate MAGMA_USDT	+0.0382%	4h	0.2353	+0.251%	$990K	$253K	20x	as long as short
Aster MAGMAUSDT	+0.0422%	4h	0.2343	−0.193%	$1.4M	$414K	5x	as long as short