Funding arb · Price arb /

NIGHT

all NIGHT 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: SunX against KuCoin−0.084%7-day average −0.064% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.277%+$28 on $10k

Price spread, last 4 days (all we have)+0.416%+$42 · spread now −0.084%, 7d avg −0.064%

Together, before fees+0.693%+$69 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: SunX is 0.020% cheaper against KuCoin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NIGHTUSDTM	0.02415	0.0100	pay 0.0050% / 4h	22m 34s	$1.4M	$5.2M	50x
Short	SunX NIGHT-USDT	0.02413	0.0100	get 0.0050% / 4h	22m 34s	$2K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against KuCoin. 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 KuCoinbpFee SunXbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.064%: −$2
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$22
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; SunX: live order book, 13 min ago. Net counts fees only.

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 KuCoin live order book, 5 min ago	15.33 bp	85.1 bp −$85	548.3 bp −$5,483	doesn't fit	doesn't fit
Sell SunX live order book, 13 min ago	500.93 bp	doesn't fit	doesn't fit	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	−9.724%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+0.826%	$1K	$58K	5.5x	as long as short
BloFin NIGHT-USDT	+0.0047%	4h	0.02413	−0.084%	$282K	$42K	50x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02413	−0.072%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02413	−0.105%	$5.3M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02413	−0.084%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02413	−0.080%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02411	−0.167%	$222K	$199K	20x	as long as short
KuCoin NIGHTUSDTMlong	+0.0100%	4h	0.02415	long leg	$1.4M	$5.2M	50x
Bitget NIGHTUSDT	+0.0100%	4h	0.02414	−0.043%	$646K	$393K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDTshort	+0.0100%	4h	0.02413	−0.084%	$2K	$1.9M	20x
BingX NIGHT-USDT	+0.0126%	4h	0.02412	−0.126%	—	$6.6M	—	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0206%	1h	0.02415	−0.018%	$99	$99	10x	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02412	−0.126%	$780K	$460K	100x	as long as short
Kraken Futures PF_NIGHTUSD	+1.8910%	1h	0.02430	+0.612%	$64K	$61K	25x	as long as short