Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: KuCoin against Bitget+0.051%7-day average −0.131% · you sell dearer than you buy

Net, funding: paid 7d − costs−$231as in the Funding arb table

Net, price: spread back to 7d avg − costs−$217as in the Price arb table

costs, in and out, $10k−$2352.350% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$4 on $10k

Price spread, last 7 days−0.278%−$28 · spread now +0.051%, 7d avg −0.131%

Together, before fees−0.243%−$24 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 0.181% dearer against Bitget than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.131%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUSDT	0.03936	0.0100	pay 0.0050% / 4h	6m 31s	$1.2M	$2.5M	50x
Short	KuCoin SUSDTM	0.03938	0.0100	get 0.0050% / 4h	6m 31s	$1.8M	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bitget. 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 BitgetbpFee KuCoinbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → −0.131%: $18.14
Slippage, 4 orders: −$211
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$216.85
Costs to cover: 2.350%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; KuCoin: live order book, 6 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 Bitget live order book, 1 min ago	6.36 bp	18.8 bp −$19	58.1 bp −$581	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	2.55 bp	101.3 bp −$101	214.0 bp −$2,140	doesn't fit	doesn't fit

S on 25 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
01 Exchange SUSD	−0.6008%	1h	0.03850	−2.185%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2122%	1h	0.03931	−0.136%	$33K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.795%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1048%	4h	0.03920	−0.408%	$611K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0205% / S +0.0197%	1h	0.03939	+0.066%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03934	−0.052%	$4	—	15x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03939	+0.076%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03939	+0.084%	$607	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03935	−0.025%	$100K	$338K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.167%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03940	+0.102%	$165K	$217K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03936	+0.010%	$986K	$664K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03940	+0.094%	$43K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03935	−0.028%	$5.4M	$16.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03931	−0.127%	$5.6M	$5.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03934	−0.051%	$982K	$4.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03931	−0.127%	$320K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03936	0.000%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.03938	+0.051%	$1.8M	$2.9M	50x
Bitget SUSDTlong	+0.0100%	4h	0.03936	long leg	$1.2M	$2.5M	50x
BingX S-USDT	+0.0100%	4h	0.03932	−0.102%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03940	+0.102%	$115K	$314K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03940	+0.102%	$25K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03934	−0.058%	$221K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03931	−0.127%	$265K	$125K	75x	as long as short