Funding arb · Price arb /

S

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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: Deribit against KuCoin+0.127%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Deribit

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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.127% dearer against KuCoin than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.03933	0.0100	pay 0.0050% / 4h	51m 40s	$1.8M	$3.0M	50x
Short	Deribit S_USDC-PERPETUAL	0.03938	0.0258	get 0.0032% / 1h	51m 40s	$66K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.127%Rate

Funding earned: $33.21
Price spread: +0.127% → 0.000%: $12.71
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $26.92
Costs to cover: 0.190%
Break-even: 1.3 days

Slippage unknown: KuCoin: live order book, 6 min ago; Deribit: no order-book sample. 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 KuCoin live order book, 6 min ago	3.82 bp	85.6 bp −$86	310.7 bp −$3,107	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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	−2.110%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2120%	1h	0.03934	+0.020%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.721%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0974%	4h	0.03933	−0.001%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0200% / S +0.0192%	1h	0.03936	+0.074%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03932	−0.026%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03936	+0.074%	$607	—	150x	as long as short
Orderly PERP_S_USDC	+0.0033%	4h	0.03935	+0.051%	$100K	$342K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.246%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03940	+0.178%	$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	0.03935	+0.053%	$986K	$700K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03936	+0.066%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03934	+0.025%	$5.4M	$17.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03930	−0.076%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03935	+0.051%	$982K	$5.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03930	−0.076%	$321K	$258K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03933	0.000%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.03933	long leg	$1.8M	$3.0M	50x
Bitget SUSDT	+0.0100%	4h	0.03936	+0.076%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03931	−0.051%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.076%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03933	+0.006%	$221K	$877K	10x	as long as short
Deribit S_USDC-PERPETUALshort	+0.0258%	1h	0.03938	+0.127%	$66K	$10K	10x
BloFin S-USDT	+0.0340%	4h	0.03932	−0.025%	$265K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0387%	1h	0.03940	+0.178%	$115K	$307K	5x	as long as short