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 +0.012%

Price spread now: Gate against KuCoin−0.388%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$326as in the Funding arb table

Net, price: spread back to 7d avg − costs−$371as in the Price arb table

costs, in and out, $10k−$3313.312% of the position

Long on KuCoin Short on Gate

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)+0.424%+$42 · spread now −0.388%, 7d avg +0.013%

Together, before fees+0.472%+$47 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: Gate is 0.401% cheaper against KuCoin than usual: you would sell low and buy high, −$40 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	KuCoin SUSDTM	0.04122	0.0100	pay 0.0050% / 4h	44m 29s	$1.9M	$2.8M	50x
Short	Gate S_USDT	0.04106	0.0100	get 0.0050% / 4h	44m 29s	$335K	$174K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.388%Rate

Funding earned: $0
Price spread: −0.388% → +0.013%: −$40.13
Slippage, 4 orders: −$304.18
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$371.3
Costs to cover: 3.312%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Gate: live order book, 56 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, 3 min ago	6.10 bp	87.1 bp −$87	335.2 bp −$3,352	doesn't fit	doesn't fit
Sell Gate live order book, 56 min ago	8.65 bp	66.3 bp −$66	doesn't fit	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	−0.8328%	1h	0.03950	−4.173%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1923%	1h	0.04110	−0.293%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1064%	1h	0.03961	−3.906%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04105	−0.403%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04123	+0.031%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04105	−0.415%	$633	—	150x	as long as short
Variational Omni S	+0.0013%	4h	0.04091	−0.747%	$635K	$17K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−0.534%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0095%	4h	0.04105	−0.412%	$102K	$582K	10x	as long as short
Lighter S	+0.0096%	1h	0.04108	−0.340%	$179K	$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	0.04117	−0.124%	$1.0M	$580K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04105	−0.415%	$48K	$110K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04106	−0.400%	$5.8M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04107	−0.364%	$5.8M	$4.1M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04112	−0.243%	$1.0M	$3.8M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.04106	−0.388%	$335K	$174K	50x
MEXC S_USDT	+0.0100%	4h	0.04122	0.000%	$4.2M	$1.8M	200x	as long as short
KuCoin SUSDTMlong	+0.0100%	4h	0.04122	long leg	$1.9M	$2.8M	50x
Bitget SUSDT	+0.0100%	4h	0.04122	0.000%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04101	−0.509%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04070	−1.262%	$24K	$489K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04100	−0.524%	$231K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04106	−0.388%	$279K	$117K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0724%	1h	0.04110	−0.291%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1516%	1h	0.04110	−0.291%	$120K	$433K	5x	as long as short