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 OKX+0.061%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs−$265as in the Price arb table

costs, in and out, $10k−$2592.590% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.123%−$12 on $10k

Price spread, last 7 days+0.026%+$3 · spread now +0.061%, 7d avg +0.118%

Together, before fees−0.097%−$10 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 0.056% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NIGHT-USDT-SWAP	0.02346	0.0100	pay 0.0050% / 4h	1h 28m	$1.5M	$1.5M	20x
Short	KuCoin NIGHTUSDTM	0.02347	0.0100	get 0.0050% / 4h	1h 28m	$1.3M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → +0.118%: −$5.64
Slippage, 4 orders: −$236.96
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$264.6
Costs to cover: 2.590%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; KuCoin: live order book, 2 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 OKX live order book, 1 min ago	2.77 bp	33.5 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	13.15 bp	91.1 bp −$91	431.5 bp −$4,315	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	−1.8136%	1h	0.02239	−4.561%	$1K	$74	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+3.803%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02348	+0.101%	$18K	$36K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02348	+0.094%	$5.1M	$4.6M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02349	+0.136%	$1.9M	$819K	50x	as long as short
OKX NIGHT-USDT-SWAPlong	+0.0100%	4h	0.02346	long leg	$1.5M	$1.5M	20x
Gate NIGHT_USDT	+0.0100%	8h	0.02346	+0.009%	$209K	$178K	20x	as long as short
KuCoin NIGHTUSDTMshort	+0.0100%	4h	0.02347	+0.061%	$1.3M	$5.5M	50x
Bitget NIGHTUSDT	+0.0100%	4h	0.02349	+0.136%	$630K	$368K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02348	+0.094%	$1K	$1.2M	20x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin NIGHT-USDT	+0.0105%	4h	0.02350	+0.179%	$269K	$44K	50x	as long as short
BingX NIGHT-USDT	+0.0132%	4h	0.02347	+0.051%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0262%	4h	0.02347	+0.051%	$916K	$307K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0474%	1h	0.02351	+0.200%	$96	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.1255%	1h	0.02358	+0.524%	$61K	$51K	25x	as long as short