Funding arb · Price arb /

NIGHT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against SunX+0.094%7-day average +0.069% · you sell dearer than you buy

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

Long on SunX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now +0.094%, 7d avg +0.069%

Together, before fees−0.316%−$32 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 0.025% dearer against SunX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NIGHT-USDT	0.02368	0.0100	pay 0.0050% / 4h	3h 25m	$1K	$1.1M	20x
Short	KuCoin NIGHTUSDTM	0.02370	0.0100	get 0.0050% / 4h	3h 25m	$1.3M	$5.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SunX. 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 SunXbpFee KuCoinbpOrdersPrice spread, now +0.094%Rate

Funding earned: $0
Price spread: +0.094% → +0.069%: $2.49
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$17.51
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 min ago; KuCoin: live order book, 5 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 SunX live order book, 11 min ago	503.81 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	4.91 bp	85.5 bp −$85	490.5 bp −$4,905	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	−1.6984%	1h	0.02340	−1.195%	$1K	$175	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+2.829%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02370	+0.083%	$18K	$36K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02368	0.000%	$5.1M	$4.4M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02369	+0.042%	$1.9M	$805K	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02366	−0.076%	$1.5M	$1.5M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02368	0.000%	$211K	$164K	20x	as long as short
KuCoin NIGHTUSDTMshort	+0.0100%	4h	0.02370	+0.094%	$1.3M	$5.6M	50x
Bitget NIGHTUSDT	+0.0100%	4h	0.02370	+0.084%	$657K	$341K	25x	as long as short
SunX NIGHT-USDTlong	+0.0100%	4h	0.02368	long leg	$1K	$1.1M	20x

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX NIGHT-USDT	+0.0132%	4h	0.02367	−0.042%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0149%	4h	0.02365	−0.127%	$267K	$31K	50x	as long as short
MEXC NIGHT_USDT	+0.0262%	4h	0.02368	0.000%	$845K	$306K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0299%	1h	0.02371	+0.118%	$97	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.4910%	1h	0.02371	+0.114%	$62K	$52K	25x	as long as short