Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against KuCoin+0.206%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.206% dearer against KuCoin than usual: you sell high and buy low (spread +0.206% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin OPUSDTM	0.1248	0.0100	pay 0.0100% / 8h	2h 12m	$2.8M	$6.4M	75x
Short	dYdX OP-USD	0.1251	0	get 0.0000% / 1h	12m 22s	$39K	$532	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.206%Rate

Funding earned: −$21
Price spread: +0.206% → 0.000%: $20.63
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$22.37
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 6 min ago; dYdX: no order-book sample. 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, 6 min ago	3.99 bp	36.9 bp −$37	105.7 bp −$1,057	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

OP on 30 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
Injective OP/USDC PERP	−0.1583%	1h	0.1247	−0.080%	$34K	$59K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1250	+0.171%	$13K	—	100x	as long as short
Deribit OP_USDC-PERPETUAL	−0.0549%	1h	0.1250	+0.160%	$30K	$151K	25x	as long as short
Orderly PERP_OP_USDC	0.0000%	8h	0.1248	0.000%	$59K	$142K	10x	as long as short
dYdX OP-USDshort	0.0000%	1h	0.1251	+0.206%	$39K	$532	10x
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1250	+0.160%	—	—	150x	as long as short
Variational Omni OP	+0.0007%	8h	0.1250	+0.180%	$222K	$46K	—	as long as short
Bybit OPUSDT	+0.0071%	8h	0.1249	+0.064%	$18.4M	$25.7M	75x	as long as short
Kraken Futures PF_OPUSD	+0.0075%	1h	0.1252	+0.337%	$752K	$634K	20x	as long as short
Lighter OP	+0.0096%	1h	0.1250	+0.168%	$286K	$1.1M	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX OP-USDT-SWAP	+0.0098%	8h	0.1249	+0.112%	$6.2M	$28.9M	50x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1249	+0.040%	$3.4M	$3.1M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1250	+0.177%	$204K	$213K	10x	as long as short
Binance OPUSDT	+0.0100%	8h	0.1249	+0.040%	$19.6M	$64.5M	75x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1250	+0.136%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1248	+0.032%	$23.1M	$7.7M	300x	as long as short
KuCoin OPUSDTMlong	+0.0100%	8h	0.1248	long leg	$2.8M	$6.4M	75x
Bitget OPUSDT	+0.0100%	8h	0.1249	+0.080%	$5.7M	$6.7M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1249	+0.080%	—	$6.6M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1250	+0.128%	$105K	$214K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1251	+0.277%	$379K	$769K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1253	+0.401%	$309K	$5.4M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1252	+0.321%	$43K	$705K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1250	+0.168%	$190	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1251	+0.232%	$173K	$244K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1248	+0.014%	$101K	$506K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1249	+0.080%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0160%	1h	0.1254	+0.481%	$26K	$60K	50x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1249	+0.088%	$984K	$305K	75x	as long as short
Reya OPRUSDPERP	+0.0443%	1h	0.1249	+0.073%	$694	—	20x	as long as short