Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin+0.035%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,342as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,340as in the Price arb table

costs, in and out, $10k−$1,34213.423% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.168%−$17 · spread now +0.035%, 7d avg +0.009%

Together, before fees−0.168%−$17 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: BingX is 0.025% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SQDUSDTM	0.02898	0.0100	pay 0.0050% / 4h	26m 31s	$403K	$1.3M	50x
Short	BingX SQD-USDT	0.02899	0.0100	get 0.0050% / 4h	26m 31s	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → +0.009%: $2.54
Slippage, 4 orders: −$1,320.31
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1,339.77
Costs to cover: 13.423%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; BingX: live order book, 7 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, 4 min ago	8.60 bp	662.9 bp −$663	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	10.32 bp	50.2 bp −$50	111.1 bp −$1,111	881.7 bp −$88.2K	1206.7 bp −$603.4K

SQD on 10 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 SQD-USDT	+0.0077%	4h	0.02904	+0.207%	$81K	$42K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02898	+0.017%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02903	+0.173%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDT	+0.0100%	4h	0.02893	−0.173%	$899K	$369K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02898	0.000%	$611K	$30K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02905	+0.242%	$5.9M	$181K	50x	as long as short
KuCoin SQDUSDTMlong	+0.0100%	4h	0.02898	long leg	$403K	$1.3M	50x
Bitget SQDUSDT	+0.0100%	4h	0.02900	+0.069%	$742K	$54K	25x	as long as short
BingX SQD-USDTshort	+0.0100%	4h	0.02899	+0.035%	—	$2.3M	—
Variational Omni SQD	+0.0100%	4h	0.02907	+0.328%	$7K	$41K	—	as long as short