Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0158%/8h= −17.3% APRpaid last 24h +0.051%

Price spread now: KuCoin against Deribit+0.228%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 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. KuCoin is 0.228% dearer against Deribit than usual: you sell high and buy low (spread +0.228% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit S_USDC-PERPETUAL	0.03940	0.0258	pay 0.0032% / 1h	50m 37s	$66K	$10K	10x
Short	KuCoin SUSDTM	0.03949	0.0100	get 0.0050% / 4h	50m 37s	$1.8M	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.228%Rate

Funding earned: −$33.15
Price spread: +0.228% → 0.000%: $22.84
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$29.31
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 7 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 Deribit no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 7 min ago	3.82 bp	109.6 bp −$110	236.5 bp −$2,365	doesn't fit	doesn't fit

Deribit: 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	−0.6832%	1h	0.03850	−2.284%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2118%	1h	0.03938	−0.045%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.893%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0974%	4h	0.03933	−0.178%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0200% / S +0.0193%	1h	0.03936	−0.096%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03932	−0.197%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03936	−0.098%	$607	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.061%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0033%	4h	0.03936	−0.102%	$100K	$342K	10x	as long as short
Lighter S	+0.0096%	1h	0.03940	0.000%	$165K	$217K	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	0.03949	+0.226%	$990K	$700K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03951	+0.275%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03937	−0.087%	$5.4M	$17.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03929	−0.279%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03935	−0.127%	$986K	$5.1M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03944	+0.102%	$322K	$258K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03934	−0.152%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.03949	+0.228%	$1.8M	$2.9M	50x
Bitget SUSDT	+0.0100%	4h	0.03937	−0.076%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03936	−0.102%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.254%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03934	−0.165%	$222K	$877K	10x	as long as short
Deribit S_USDC-PERPETUALlong	+0.0258%	1h	0.03940	long leg	$66K	$10K	10x
BloFin S-USDT	+0.0340%	4h	0.03932	−0.203%	$265K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0401%	1h	0.03940	0.000%	$115K	$307K	5x	as long as short