Funding arb · Price arb /

NIGHT

all NIGHT markets

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: KuCoin against Binance+0.034%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$298as in the Funding arb table

Net, price: spread back to 7d avg − costs−$284as in the Price arb table

costs, in and out, $10k−$2762.761% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.218%−$22 on $10k

Price spread, last 7 days+0.071%+$7 · spread now +0.034%, 7d avg +0.114%

Together, before fees−0.147%−$15 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 0.080% cheaper against Binance than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NIGHTUSDT	0.02379	0.0100	pay 0.0050% / 4h	1h 06m	$5.2M	$6.6M	50x
Short	KuCoin NIGHTUSDTM	0.02380	0.0100	get 0.0050% / 4h	1h 06m	$1.3M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Binance. 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 BinancebpFee KuCoinbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → +0.114%: −$8
Slippage, 4 orders: −$254.07
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$284.07
Costs to cover: 2.761%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; KuCoin: live order book, 1 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 Binance live order book, 2 min ago	2.10 bp	16.0 bp −$16	166.1 bp −$1,661	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	8.02 bp	119.4 bp −$119	572.3 bp −$5,723	doesn't fit	doesn't fit

NIGHT on 15 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
Coinbase International NIGHT-PERP-INTX	−2.1536%	1h	0.02239	−5.893%	$1K	$74	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+2.354%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02381	+0.068%	$16K	$42K	10x	as long as short
Binance NIGHTUSDTlong	+0.0100%	4h	0.02379	long leg	$5.2M	$6.6M	50x
Bybit NIGHTUSDT	+0.0100%	4h	0.02381	+0.084%	$1.9M	$1.1M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02379	+0.013%	$1.6M	$2.0M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02379	0.000%	$216K	$220K	20x	as long as short
KuCoin NIGHTUSDTMshort	+0.0100%	4h	0.02380	+0.034%	$1.3M	$5.4M	50x
Bitget NIGHTUSDT	+0.0100%	4h	0.02381	+0.084%	$641K	$451K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02377	−0.084%	$2K	$1.9M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX NIGHT-USDT	+0.0108%	4h	0.02380	+0.042%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0109%	4h	0.02382	+0.126%	$272K	$43K	50x	as long as short
MEXC NIGHT_USDT	+0.0216%	4h	0.02379	0.000%	$761K	$455K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0590%	1h	0.02382	+0.113%	$98	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.5928%	1h	0.02354	−1.042%	$63K	$62K	25x	as long as short