Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: KuCoin against Gate+0.025%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$361as in the Funding arb table

Net, price: spread back to 7d avg − costs−$352as in the Price arb table

costs, in and out, $10k−$3563.559% of the position

Long on Gate Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.025%, 7d avg −0.013%

Together, before fees−0.108%−$11 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 0.038% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.04067	0.0100	pay 0.0050% / 4h	2h 29m	$337K	$203K	50x
Short	KuCoin SUSDTM	0.04068	0.0100	get 0.0050% / 4h	2h 29m	$1.9M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Gate. 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 GatebpFee KuCoinbpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → −0.013%: $3.75
Slippage, 4 orders: −$328.88
Fee Gate: 7.5 bp × 2 orders: −$15
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$352.13
Costs to cover: 3.559%
Break-even: never at this rate

Slippage from Gate: live order book, 36 min ago; KuCoin: live order book, 3 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 Gate live order book, 36 min ago	8.76 bp	57.9 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	3.68 bp	96.0 bp −$96	214.4 bp −$2,144	doesn't fit	doesn't fit

S on 24 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	−0.7728%	1h	0.03940	−3.123%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.04022	−1.106%	$48K	$16K	25x	as long as short
Kraken Futures PF_SUSD	−0.1245%	1h	0.04069	+0.044%	$35K	$16K	10x	as long as short
Variational Omni S	−0.0504%	4h	0.04066	−0.028%	$633K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04067	+0.002%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04066	−0.022%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04068	+0.037%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.811%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0042%	4h	0.04066	−0.025%	$102K	$334K	10x	as long as short
Lighter S	+0.0096%	1h	0.04073	+0.148%	$168K	$166K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04073	+0.145%	$1.0M	$572K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04070	+0.071%	$45K	$135K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04074	+0.172%	$5.6M	$14.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04066	−0.025%	$5.8M	$4.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04073	+0.148%	$1.0M	$4.2M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.04067	long leg	$337K	$203K	50x
MEXC S_USDT	+0.0100%	4h	0.04069	+0.049%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTMshort	+0.0100%	4h	0.04068	+0.025%	$1.9M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.04069	+0.049%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04067	0.000%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04080	+0.320%	$26K	$442K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04064	−0.063%	$231K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0487%	1h	0.04072	+0.123%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1048%	1h	0.04080	+0.320%	$119K	$348K	5x	as long as short