Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Bybit against KuCoin−0.025%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$250as in the Funding arb table

Net, price: spread back to 7d avg − costs−$256as in the Price arb table

costs, in and out, $10k−$2532.527% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 7 days+0.108%+$11 · spread now −0.025%, 7d avg +0.009%

Together, before fees+0.141%+$14 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: Bybit is 0.034% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.04017	0.0100	pay 0.0050% / 4h	2h 21m	$1.8M	$2.7M	50x
Short	Bybit SUSDT	0.04016	0.0100	get 0.0050% / 4h	2h 21m	$5.7M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → +0.009%: −$3.36
Slippage, 4 orders: −$229.73
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$256.09
Costs to cover: 2.527%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Bybit: live order book, 1 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, 6 min ago	6.27 bp	97.4 bp −$97	407.3 bp −$4,073	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.49 bp	25.5 bp −$26	72.4 bp −$724	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	−0.9648%	1h	0.03850	−4.157%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1813%	1h	0.04010	−0.162%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03961	−1.394%	$48K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04017	+0.010%	$1K	—	100x	as long as short
Variational Omni S	−0.0117%	4h	0.03992	−0.614%	$619K	$28K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04019	+0.040%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04017	−0.002%	$619	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.066%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0084%	4h	0.04018	+0.025%	$100K	$551K	10x	as long as short
Lighter S	+0.0096%	1h	0.04022	+0.124%	$171K	$140K	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	0.04019	+0.050%	$1.0M	$593K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04020	+0.085%	$47K	$111K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04020	+0.085%	$5.7M	$13.7M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.04016	−0.025%	$5.7M	$4.4M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04018	+0.025%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04014	−0.075%	$327K	$185K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04019	+0.050%	$3.8M	$1.7M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.04017	long leg	$1.8M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.04020	+0.075%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04017	0.000%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04020	+0.075%	$24K	$483K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04016	−0.016%	$226K	$593K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04016	−0.025%	$278K	$108K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0746%	1h	0.04022	+0.124%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2308%	1h	0.04030	+0.324%	$117K	$426K	5x	as long as short