Funding arb · Price arb /

STABLE

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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: Bybit against KuCoin−0.158%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$584as in the Funding arb table

Net, price: spread back to 7d avg − costs−$558as in the Price arb table

costs, in and out, $10k−$5485.482% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.363%−$36 on $10k

Price spread, last 4 days (all we have)+0.115%+$11 · spread now −0.158%, 7d avg −0.059%

Together, before fees−0.248%−$25 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 0.099% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin STABLEUSDTM	0.02534	0.0100	pay 0.0050% / 4h	7m 20s	$181K	$29K	30x
Short	Bybit STABLEUSDT	0.02530	0.0100	get 0.0050% / 4h	7m 20s	$1.5M	$785K	25x

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 −0.158%Rate

Funding earned: $0
Price spread: −0.158% → −0.059%: −$9.89
Slippage, 4 orders: −$525.17
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$558.06
Costs to cover: 5.482%
Break-even: never at this rate

Slippage from KuCoin: live order book, 47 min ago; Bybit: live order book, 4 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, 47 min ago	16.04 bp	237.4 bp −$237	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	3.96 bp	37.2 bp −$37	202.4 bp −$2,024	doesn't fit	doesn't fit

STABLE 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
Lighter STABLE	+0.0096%	1h	0.02540	+0.225%	$117K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02527	−0.276%	$892K	$228K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02526	−0.328%	$19K	$6K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02526	−0.298%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDTshort	+0.0100%	4h	0.02530	−0.158%	$1.5M	$785K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02527	−0.276%	$207K	$430K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02526	−0.316%	$176K	$89K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02527	−0.276%	$674K	$157K	20x	as long as short
KuCoin STABLEUSDTMlong	+0.0100%	4h	0.02534	long leg	$181K	$29K	30x
Bitget STABLEUSDT	+0.0100%	4h	0.02528	−0.237%	$295K	$115K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02528	−0.237%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02526	−0.330%	$148K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02530	−0.150%	$2K	$697K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02527	−0.290%	$12K	$175K	10x	as long as short
BloFin STABLE-USDT	+0.0120%	4h	0.02529	−0.197%	$115K	$7K	75x	as long as short