Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.012%

Price spread now: Extended against KuCoin+0.048%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$275as in the Funding arb table

Net, price: spread back to 7d avg − costs−$269as in the Price arb table

costs, in and out, $10k−$2732.735% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 7 days−0.081%−$8 · spread now +0.048%, 7d avg +0.004%

Together, before fees−0.098%+ Points / potential airdropExtended: Active · farm board−$10 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: Extended is 0.044% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSDTM	0.03971	0.0100	pay 0.0050% / 4h	3h 56m	$1.8M	$2.7M	50x
Short	Extended S-USD	0.03973	0.0104	get 0.0013% / 1h	56m 45s	$223K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.048%Rate

Funding earned: $0.84
Price spread: +0.048% → +0.004%: $4.45
Slippage, 4 orders: −$256.47
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$268.18
Costs to cover: 2.735%
Break-even: 2241.8 days

Slippage from KuCoin: live order book, 10 min ago; Extended: 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, 10 min ago	2.51 bp	102.0 bp −$102	520.4 bp −$5,204	doesn't fit	doesn't fit
Sell Extended live order book, 1 min ago	3.80 bp	42.8 bp −$43	285.1 bp −$2,851	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
Kraken Futures PF_SUSD	−0.2252%	1h	0.03956	−0.369%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03928	−1.083%	$47K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03962	−0.229%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03959	−0.306%	$4	—	15x	as long as short
Variational Omni S	−0.0043%	4h	0.03942	−0.722%	$612K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03961	−0.255%	$610	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.249%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0073%	4h	0.03961	−0.252%	$98K	$271K	10x	as long as short
Lighter S	+0.0096%	1h	0.04001	+0.755%	$168K	$155K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03994	+0.579%	$1.0M	$596K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0100%	4h	0.03964	−0.188%	$44K	$132K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03979	+0.201%	$5.5M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03972	+0.025%	$5.7M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04001	+0.755%	$1.0M	$3.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03972	+0.025%	$324K	$188K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03974	+0.076%	$3.7M	$1.7M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.03971	long leg	$1.8M	$2.7M	50x
Bitget SUSDT	+0.0100%	4h	0.04003	+0.806%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03976	+0.126%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03940	−0.781%	$24K	$461K	50x	as long as short
Extended S-USDshort	+0.0104%	1h	0.03973	+0.048%	$223K	$1.1M	10x
BloFin S-USDT	+0.0340%	4h	0.03949	−0.554%	$269K	$99K	75x	as long as short
01 Exchange SUSD	+0.0592%	1h	0.03960	−0.277%	$25K	$2K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.1012%	1h	0.03968	−0.076%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2167%	1h	0.03970	−0.025%	$115K	$424K	5x	as long as short