Funding arb · Price arb /

UMA

all UMA markets

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: KuCoin against BingX−0.025%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$808as in the Funding arb table

Net, price: spread back to 7d avg − costs−$814as in the Price arb table

costs, in and out, $10k−$8088.079% of the position

Long on BingX Short on KuCoin

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)+0.061%+$6 · spread now −0.025%, 7d avg +0.033%

Together, before fees+0.061%+$6 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: KuCoin is 0.058% cheaper against BingX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX UMA-USDT	0.4013	0.0100	pay 0.0050% / 4h	2h 50m	—	$2.3M	—
Short	KuCoin UMAUSDTM	0.4012	0.0100	get 0.0050% / 4h	2h 50m	$163K	$62K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → +0.033%: −$5.79
Slippage, 4 orders: −$785.85
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$813.65
Costs to cover: 8.079%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; KuCoin: live order book, 54 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 BingX live order book, 12 min ago	9.92 bp	37.0 bp −$37	98.2 bp −$982	1269.9 bp −$127.0K	1498.6 bp −$749.3K
Sell KuCoin live order book, 54 min ago	3.71 bp	169.8 bp −$170	doesn't fit	doesn't fit	doesn't fit

UMA on 13 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
Hyperliquid UMA	+0.0100%	1h	0.4022	+0.224%	$213K	$68K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4010	−0.082%	$24K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4018	+0.125%	$1.5M	$1.3M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4018	+0.125%	$667K	$168K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4017	+0.100%	$313K	$242K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4014	+0.025%	$77K	$46K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4018	+0.125%	$231K	$168K	50x	as long as short
KuCoin UMAUSDTMshort	+0.0100%	4h	0.4012	−0.025%	$163K	$62K	30x
Bitget UMAUSDT	+0.0100%	4h	0.4014	+0.025%	$968K	$71K	50x	as long as short
BingX UMA-USDTlong	+0.0100%	4h	0.4013	long leg	—	$2.3M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMA	+0.0100%	4h	0.4015	+0.047%	$5K	$7	—	as long as short
BloFin UMA-USDT	+0.0139%	4h	0.4010	−0.075%	$75K	$6K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.2495%	1h	0.4034	+0.525%	$14K	$6K	10x	as long as short