Funding you earn now, next payment 08:00 UTC−0.0488%/8h= −53.4% APRnext payment −$2.44 per $10,000 · paid last 24h +0.012%
Price spread now: KuCoin against Bybit−0.139%7-day average −0.089% · you buy dearer than you sell
Net, funding: paid 7d − costs−$303as in the Funding arb table
Net, price: spread back to 7d avg − costs−$316as in the Price arb table
costs, in and out, $10k−$3113.110% of the position
Funding, last 7 days+0.085%+$8 on $10k
+Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.139%, 7d avg −0.089%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and KuCoin is 0.050% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.089%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.085%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.085% in total (about 4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.44 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit SAPIENUSDT | 0.07908 | 0.0588 | pay 0.0294% / 4h | 2h 51m | $510K | $110K | 20x |
| Short | KuCoin SAPIENUSDTM | 0.07897 | 0.0100 | get 0.0050% / 4h | 2h 51m | $700K | $3.0M | 30x |
Bybit SAPIENUSDT
KuCoin SAPIENUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$102.43
- Price spread: −0.139% → −0.089%
- −$5.01
- Slippage, 4 orders
- −$288.03
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$418.48
- Costs to cover
- 3.110%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 53 min ago; KuCoin: live order book, 10 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 Bybit live order book, 53 min ago | 5.06 bp | 83.7 bp −$84 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 10 min ago | 3.81 bp | 76.6 bp −$77 | 441.7 bp −$4,417 | doesn't fit | doesn't fit |
SAPIEN on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin SAPIEN-USDT | +0.0066% | 4h | 0.07894 | −0.177% | $90K | $16K | 25x | as long as short |
| Aster SAPIENUSDT | +0.0100% | 4h | 0.07888 | −0.253% | $46K | $4K | 5x | as long as short |
| Binance SAPIENUSDT | +0.0100% | 4h | 0.07899 | −0.114% | $2.0M | $991K | 25x | as long as short |
| OKX SAPIEN-USDT-SWAP | +0.0100% | 4h | 0.07913 | +0.063% | $168K | $76K | 10x | as long as short |
| Gate SAPIEN_USDT | +0.0100% | 4h | 0.07900 | −0.101% | $874K | $64K | 50x | as long as short |
| MEXC SAPIEN_USDT | +0.0100% | 4h | 0.07898 | −0.126% | $9.3M | $105K | 50x | as long as short |
| KuCoin SAPIENUSDTMshort | +0.0100% | 4h | 0.07897 | −0.139% | $700K | $3.0M | 30x | |
| Bitget SAPIENUSDT | +0.0100% | 4h | 0.07882 | −0.329% | $603K | $259K | 25x | as long as short |
| Variational Omni SAPIEN | +0.0100% | 4h | 0.07910 | +0.027% | $10K | $4K | — | as long as short |
| Extended SAPIEN-USD | +0.0104% | 1h | 0.07897 | −0.140% | $1K | $159K | 5x | as long as short |
BloFin SAPIEN-USDT
Aster SAPIENUSDT
Binance SAPIENUSDT
OKX SAPIEN-USDT-SWAP
Gate SAPIEN_USDT
MEXC SAPIEN_USDT
Bitget SAPIENUSDT
Variational Omni SAPIEN
Extended SAPIEN-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX SAPIEN-USDT | +0.0568% | 4h | 0.07900 | −0.101% | — | $6.5M | — | as long as short |
| Bybit SAPIENUSDTlong | +0.0588% | 4h | 0.07908 | long leg | $510K | $110K | 20x |
BingX SAPIEN-USDT