Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.017%

Price spread now: KuCoin against gTrade (Gains Network)−0.555%90s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. KuCoin is 0.555% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.555% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$56 on $10k: about 19 days of funding at the current rate (+$3 a day). The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) S/USD	0.04463	L +0.0001% / S +0.0006%	pay 0.0000% / 1h	0m 56s	$686	—	150x
Short	KuCoin SUSDTM	0.04438	0.0100	get 0.0050% / 4h	3h 00m	$2.1M	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee KuCoinbpOrdersPrice spread, now −0.555%Rate

Funding earned: $20.88
Price spread: −0.555% → 0.000%: −$55.55
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$56.66
Costs to cover: 0.220%
Break-even: 26.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 6 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 6 min ago	6.87 bp	221.1 bp −$221	290.8 bp −$2,908	doesn't fit	doesn't fit

gTrade (Gains Network): 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
Kraken Futures PF_SUSD	−0.2577%	1h	0.04403	−1.335%	$38K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1248%	1h	0.04308	−3.468%	$53K	$18K	25x	as long as short
01 Exchange SUSD	−0.1064%	1h	0.04450	−0.287%	$27K	$3K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04453	−0.231%	$2K	—	100x	as long as short
Variational Omni S	−0.0107%	4h	0.04352	−2.487%	$676K	$7K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04439	−0.523%	$4	—	15x	as long as short
gTrade (Gains Network) S/USDlong	L +0.0001% / S +0.0006%	1h	0.04463	long leg	$686	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	−8.129%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0063%	4h	0.04433	−0.668%	$110K	$647K	10x	as long as short
Lighter S	+0.0096%	1h	0.04443	−0.443%	$155K	$150K	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	0.04439	−0.522%	$1.1M	$779K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04441	−0.495%	$47K	$189K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04435	−0.618%	$6.5M	$18.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04431	−0.712%	$6.3M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04432	−0.690%	$1.3M	$5.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04434	−0.645%	$373K	$239K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04437	−0.578%	$4.6M	$2.6M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.04438	−0.555%	$2.1M	$2.9M	50x
Bitget SUSDT	+0.0100%	4h	0.04438	−0.555%	$1.3M	$2.8M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04439	−0.533%	—	$7.0M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04370	−2.079%	$25K	$516K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04433	−0.667%	$244K	$1.3M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0201%	1h	0.04435	−0.623%	$75K	$512	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04446	−0.376%	$314K	$202K	75x	as long as short
Backpack S_USDC_PERP	+0.0913%	1h	0.04440	−0.511%	$104K	$473K	5x	as long as short