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 +0.012%

Price spread now: Bitget against KuCoin−0.051%7-day average +0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$234as in the Funding arb table

Net, price: spread back to 7d avg − costs−$249as in the Price arb table

costs, in and out, $10k−$2312.306% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$4 on $10k

Price spread, last 7 days+0.278%+$28 · spread now −0.051%, 7d avg +0.131%

Together, before fees+0.243%+$24 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: Bitget is 0.181% cheaper against KuCoin than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.131%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.03938	0.0100	pay 0.0050% / 4h	6m 41s	$1.8M	$2.9M	50x
Short	Bitget SUSDT	0.03936	0.0100	get 0.0050% / 4h	6m 41s	$1.2M	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → +0.131%: −$18.14
Slippage, 4 orders: −$206.63
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$248.77
Costs to cover: 2.306%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Bitget: live order book, 6 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 KuCoin live order book, 5 min ago	2.55 bp	95.1 bp −$95	288.0 bp −$2,880	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	5.09 bp	14.2 bp −$14	53.5 bp −$535	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
01 Exchange SUSD	−0.5984%	1h	0.03840	−2.489%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2122%	1h	0.03931	−0.187%	$33K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.844%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1048%	4h	0.03920	−0.459%	$611K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0205% / S +0.0197%	1h	0.03939	+0.015%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03932	−0.147%	$4	—	15x	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03939	+0.025%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03939	+0.033%	$607	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03935	−0.076%	$100K	$338K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.114%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03940	+0.051%	$165K	$217K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03936	−0.041%	$986K	$664K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03939	+0.031%	$43K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03934	−0.090%	$5.4M	$16.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03929	−0.229%	$5.6M	$5.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03934	−0.102%	$982K	$4.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03930	−0.203%	$320K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03936	−0.051%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.03938	long leg	$1.8M	$2.9M	50x
Bitget SUSDTshort	+0.0100%	4h	0.03936	−0.051%	$1.2M	$2.5M	50x
BingX S-USDT	+0.0100%	4h	0.03932	−0.152%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03940	+0.051%	$115K	$314K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03940	+0.051%	$25K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03933	−0.134%	$221K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03931	−0.178%	$265K	$125K	75x	as long as short