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 −0.007%

Price spread now: KuCoin against Bybit−0.077%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$279as in the Funding arb table

Net, price: spread back to 7d avg − costs−$282as in the Price arb table

costs, in and out, $10k−$2762.757% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 7 days+0.045%+$5 · spread now −0.077%, 7d avg −0.015%

Together, before fees+0.013%+$1 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 0.062% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.03913	0.0100	pay 0.0050% / 4h	2h 26m	$5.6M	$6.4M	50x
Short	KuCoin SUSDTM	0.03910	0.0100	get 0.0050% / 4h	2h 26m	$1.8M	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now −0.077%Rate

Funding earned: $0
Price spread: −0.077% → −0.015%: −$6.19
Slippage, 4 orders: −$252.71
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$281.9
Costs to cover: 2.757%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; KuCoin: live order book, 5 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 Bybit live order book, 1 min ago	1.28 bp	40.1 bp −$40	94.9 bp −$949	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	3.85 bp	87.5 bp −$88	223.0 bp −$2,230	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
Kraken Futures PF_SUSD	−0.1459%	1h	0.03911	−0.042%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.223%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1055%	4h	0.03895	−0.452%	$606K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0189% / S +0.0183%	1h	0.03916	+0.087%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03911	−0.048%	$4	—	15x	as long as short
Orderly PERP_S_USDC	−0.0016%	4h	0.03914	+0.026%	$101K	$337K	10x	as long as short
Aster SUSDT	−0.0010%	4h	0.03917	+0.095%	$43K	$212K	10x	as long as short
01 Exchange SUSD	0.0000%	1h	0.03900	−0.332%	$24K	$3K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03915	+0.041%	$603	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0005%	1h	0.03918	+0.128%	$66K	$10K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.779%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03916	+0.077%	$164K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03920	+0.184%	$989K	$911K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03917	+0.107%	$5.3M	$23.5M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.03913	long leg	$5.6M	$6.4M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03919	+0.153%	$975K	$7.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03909	−0.102%	$320K	$292K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03915	+0.051%	$3.5M	$2.6M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.03910	−0.077%	$1.8M	$3.1M	50x
Bitget SUSDT	+0.0100%	4h	0.03917	+0.102%	$1.2M	$3.0M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03915	+0.051%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03900	−0.332%	$19K	$470K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03917	+0.097%	$219K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03908	−0.128%	$268K	$158K	75x	as long as short
Backpack S_USDC_PERP	+0.0399%	1h	0.03910	−0.077%	$114K	$291K	5x	as long as short