Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Bybit−0.063%7-day average +0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$358as in the Funding arb table

Net, price: spread back to 7d avg − costs−$355as in the Price arb table

costs, in and out, $10k−$3423.421% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

Price spread, last 7 days+0.208%+$21 · spread now −0.063%, 7d avg +0.065%

Together, before fees+0.049%+$5 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 0.128% cheaper against Bybit than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NIGHTUSDT	0.02367	0.0100	pay 0.0050% / 4h	2h 20m	$1.9M	$861K	50x
Short	KuCoin NIGHTUSDTM	0.02366	0.0100	get 0.0050% / 4h	2h 20m	$1.3M	$5.5M	50x

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 −0.063%Rate

Funding earned: $0
Price spread: −0.063% → +0.065%: −$12.8
Slippage, 4 orders: −$319.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$354.92
Costs to cover: 3.421%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 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 Bybit live order book, 4 min ago	6.36 bp	56.2 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	12.65 bp	136.5 bp −$137	522.8 bp −$5,228	doesn't fit	doesn't fit

NIGHT on 15 exchanges

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	−1.8664%	1h	0.02239	−5.416%	$1K	$74	50x	as long as short
Kraken Futures PF_NIGHTUSD	−0.4447%	1h	0.02378	+0.446%	$62K	$51K	25x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+2.873%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02366	−0.048%	$18K	$37K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02366	−0.042%	$5.1M	$4.8M	50x	as long as short
Bybit NIGHTUSDTlong	+0.0100%	4h	0.02367	long leg	$1.9M	$861K	50x
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02363	−0.152%	$1.5M	$1.6M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02365	−0.084%	$214K	$176K	20x	as long as short
KuCoin NIGHTUSDTMshort	+0.0100%	4h	0.02366	−0.063%	$1.3M	$5.5M	50x
Bitget NIGHTUSDT	+0.0100%	4h	0.02366	−0.042%	$635K	$371K	25x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02366	−0.042%	$2K	$1.3M	20x	as long as short
BingX NIGHT-USDT	+0.0108%	4h	0.02365	−0.084%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0141%	4h	0.02363	−0.169%	$268K	$40K	50x	as long as short
MEXC NIGHT_USDT	+0.0216%	4h	0.02366	−0.042%	$904K	$355K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0511%	1h	0.02369	+0.068%	$97	$99	10x	as long as short