Funding arb · Price arb /

SNX

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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 0.000%

Price spread now: Bybit against KuCoin+0.084%7-day average −0.121% · you sell dearer than you buy

Net, funding: paid 7d − costs−$219as in the Funding arb table

Net, price: spread back to 7d avg − costs−$198as in the Price arb table

costs, in and out, $10k−$2192.189% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.278%−$28 · spread now +0.084%, 7d avg −0.121%

Together, before fees−0.278%−$28 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 0.205% dearer against KuCoin than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SNXUSDTM	0.2381	0.0100	pay 0.0100% / 8h	1h 58m	$677K	$1.9M	30x
Short	Bybit SNXUSDT	0.2383	0.0100	get 0.0100% / 8h	1h 58m	$1.7M	$1.3M	75x

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 +0.084%Rate

Funding earned: $0
Price spread: +0.084% → −0.121%: $20.52
Slippage, 4 orders: −$195.88
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$198.36
Costs to cover: 2.189%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Bybit: live order book, 3 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, 8 min ago	2.10 bp	59.9 bp −$60	154.1 bp −$1,541	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	4.21 bp	47.5 bp −$47	373.3 bp −$3,733	doesn't fit	doesn't fit

SNX on 15 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
Injective SNX/USDC PERP	−0.5000%	1h	0.2236	−6.090%	$22K	$30K	12x	as long as short
BloFin SNX-USDT	+0.0074%	8h	0.2380	−0.042%	$153K	$69K	75x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2386	+0.223%	$436K	$160K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2384	+0.115%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2384	+0.124%	$3.0M	$4.3M	75x	as long as short
Bybit SNXUSDTshort	+0.0100%	8h	0.2383	+0.084%	$1.7M	$1.3M	75x
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2383	+0.084%	$847K	$1.3M	20x	as long as short
Gate SNX_USDT	+0.0100%	8h	0.2382	+0.042%	$241K	$89K	25x	as long as short
MEXC SNX_USDT	+0.0100%	8h	0.2384	+0.126%	$1.6M	$699K	100x	as long as short
KuCoin SNXUSDTMlong	+0.0100%	8h	0.2381	long leg	$677K	$1.9M	30x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNXUSDT	+0.0100%	8h	0.2384	+0.126%	$1.1M	$380K	50x	as long as short
BingX SNX-USDT	+0.0100%	8h	0.2385	+0.168%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2377	−0.165%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2371	−0.420%	$2K	$1.5M	20x	as long as short
Kraken Futures PF_SNXUSD	+0.1153%	1h	0.2381	−0.001%	$143K	$67K	25x	as long as short