Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1220%/8h= +133.6% APRpaid last 24h +0.540%

Price spread now: KuCoin against Coinbase International+1.792%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$37 a day on $10k at the current rate, and KuCoin is 1.792% dearer against Coinbase International than usual: you sell high and buy low: +$179 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International S-PERP-INTX	0.03961	−0.1120	get 0.0140% / 1h	35m 12s	$48K	$18K	25x
Short	KuCoin SUSDTM	0.04032	0.0100	get 0.0050% / 4h	1h 35m	$1.8M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now +1.792%Rate

Funding earned: $256.2
Price spread: +1.792% → 0.000%: $179.25
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $413.45
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; KuCoin: live order book, 2 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 Coinbase International no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	6.19 bp	89.6 bp −$90	210.4 bp −$2,104	doesn't fit	doesn't fit

Coinbase International: 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.

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	−0.7872%	1h	0.03940	−0.530%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2391%	1h	0.04032	+1.797%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1120%	1h	0.03961	long leg	$48K	$18K	25x
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04031	+1.770%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04031	+1.776%	$4	—	15x	as long as short
Variational Omni S	−0.0002%	4h	0.04030	+1.737%	$626K	$24K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04034	+1.831%	$622	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.509%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0085%	4h	0.04033	+1.818%	$100K	$577K	10x	as long as short
Lighter S	+0.0096%	1h	0.04037	+1.919%	$172K	$139K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04034	+1.851%	$1.0M	$595K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04034	+1.839%	$48K	$110K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04034	+1.843%	$5.7M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04030	+1.742%	$5.8M	$4.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04031	+1.767%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04027	+1.666%	$328K	$179K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04033	+1.818%	$4.1M	$1.8M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.04032	+1.792%	$1.8M	$2.8M	50x
Bitget SUSDT	+0.0100%	4h	0.04033	+1.818%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04032	+1.792%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04050	+2.247%	$24K	$491K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04031	+1.769%	$233K	$598K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04034	+1.843%	$278K	$116K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0742%	1h	0.04037	+1.919%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1616%	1h	0.04040	+1.994%	$117K	$426K	5x	as long as short