Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin−0.091%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1051.046% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 7 days+0.083%+$8 · spread now −0.091%, 7d avg −0.046%

Together, before fees+0.099%+$10 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 0.045% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SUSHIUSDTM	0.2526	0.0100	pay 0.0100% / 8h	6h 20m	$1.2M	$244K	50x
Short	Bybit SUSHIUSDT	0.2524	0.0100	get 0.0100% / 8h	6h 20m	$2.5M	$3.0M	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

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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 −0.091%Rate

Funding earned: $0
Price spread: −0.091% → −0.046%: −$4.46
Slippage, 4 orders: −$81.62
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$109.08
Costs to cover: 1.046%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Bybit: live order book, 5 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, 2 min ago	9.89 bp	27.2 bp −$27	156.4 bp −$1,564	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.95 bp	26.6 bp −$27	103.2 bp −$1,032	doesn't fit	doesn't fit

SUSHI on 15 exchanges

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
Variational Omni SUSHI	−0.0043%	8h	0.2524	−0.060%	$41K	$6K	—	as long as short
Injective SUSHI/USDC PERP	+0.0033%	1h	0.2545	+0.752%	$16	$18K	5.5x	as long as short
BloFin SUSHI-USDT	+0.0095%	8h	0.2528	+0.079%	$203K	$54K	75x	as long as short
Hyperliquid SUSHI	+0.0100%	1h	0.2529	+0.111%	$333K	$320K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2524	−0.071%	$22K	$15K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2526	0.000%	$3.9M	$9.1M	75x	as long as short
Bybit SUSHIUSDTshort	+0.0100%	8h	0.2524	−0.091%	$2.5M	$3.0M	75x
OKX SUSHI-USDT-SWAP	+0.0100%	8h	0.2525	−0.040%	$1.5M	$3.7M	50x	as long as short
Gate SUSHI_USDT	+0.0100%	8h	0.2528	+0.079%	$572K	$271K	50x	as long as short
MEXC SUSHI_USDT	+0.0100%	8h	0.2527	+0.040%	$1.2M	$265K	75x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SUSHIUSDTMlong	+0.0100%	8h	0.2526	long leg	$1.2M	$244K	50x
Bitget SUSHIUSDT	+0.0100%	8h	0.2527	+0.040%	$978K	$683K	50x	as long as short
BingX SUSHI-USDT	+0.0100%	8h	0.2528	+0.079%	—	$2.5M	—	as long as short
HTX SUSHI-USDT	+0.0100%	8h	0.2528	+0.079%	$84K	$79K	75x	as long as short
Kraken Futures PF_SUSHIUSD	+0.0131%	1h	0.2531	+0.180%	$761K	$62K	20x	as long as short