Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against KuCoin−0.035%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$966as in the Funding arb table

Net, price: spread back to 7d avg − costs−$974as in the Price arb table

costs, in and out, $10k−$9669.664% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.094%+$9 · spread now −0.035%, 7d avg +0.044%

Together, before fees+0.094%+$9 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: Bitget is 0.079% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SQDUSDTM	0.02853	0.0100	pay 0.0050% / 4h	1h 21m	$401K	$1.3M	50x
Short	Bitget SQDUSDT	0.02852	0.0100	get 0.0050% / 4h	1h 21m	$730K	$82K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → +0.044%: −$7.87
Slippage, 4 orders: −$942.37
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$974.24
Costs to cover: 9.664%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bitget: live order book, 58 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	1.75 bp	312.7 bp −$313	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 58 min ago	15.79 bp	32.2 bp −$32	159.4 bp −$1,594	doesn't fit	doesn't fit

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	+0.0099%	4h	0.02857	+0.140%	$81K	$43K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02849	−0.143%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02857	+0.151%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDT	+0.0100%	4h	0.02847	−0.210%	$887K	$506K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02847	−0.210%	$600K	$44K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02856	+0.105%	$5.8M	$172K	50x	as long as short
KuCoin SQDUSDTMlong	+0.0100%	4h	0.02853	long leg	$401K	$1.3M	50x
Bitget SQDUSDTshort	+0.0100%	4h	0.02852	−0.035%	$730K	$82K	25x
BingX SQD-USDT	+0.0100%	4h	0.02850	−0.105%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02852	−0.048%	$11K	$52K	—	as long as short