Funding arb · Price arb /

NIGHT

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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 Bitget+0.080%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$292as in the Funding arb table

Net, price: spread back to 7d avg − costs−$263as in the Price arb table

costs, in and out, $10k−$2662.660% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.258%−$26 on $10k

Price spread, last 4 days (all we have)−0.255%−$25 · spread now +0.080%, 7d avg +0.050%

Together, before fees−0.513%−$51 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 0.030% dearer against Bitget than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NIGHTUSDT	0.02414	0.0100	pay 0.0050% / 4h	26m 47s	$646K	$393K	25x
Short	KuCoin NIGHTUSDTM	0.02416	0.0100	get 0.0050% / 4h	26m 47s	$1.4M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bitget. 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 BitgetbpFee KuCoinbpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → +0.050%: $2.98
Slippage, 4 orders: −$242.04
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$263.06
Costs to cover: 2.660%
Break-even: never at this rate

Slippage from Bitget: live order book, 28 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 Bitget live order book, 28 min ago	6.20 bp	26.5 bp −$27	315.6 bp −$3,156	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	15.33 bp	115.2 bp −$115	478.7 bp −$4,787	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	−2.3328%	1h	0.02180	−9.685%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+0.870%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02415	+0.042%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02413	−0.041%	$5.3M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02413	−0.041%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02411	−0.141%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02413	−0.041%	$222K	$199K	20x	as long as short
KuCoin NIGHTUSDTMshort	+0.0100%	4h	0.02416	+0.080%	$1.4M	$5.2M	50x
Bitget NIGHTUSDTlong	+0.0100%	4h	0.02414	long leg	$646K	$393K	25x
SunX NIGHT-USDT	+0.0100%	4h	0.02412	−0.083%	$1K	$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	+0.0126%	4h	0.02414	0.000%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0147%	4h	0.02415	+0.041%	$284K	$42K	50x	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02413	−0.041%	$780K	$460K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0579%	1h	0.02416	+0.066%	$99	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+1.8844%	1h	0.02438	+1.005%	$65K	$61K	25x	as long as short