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: BingX against KuCoin+0.148%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,213as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,195as in the Price arb table

costs, in and out, $10k−$1,21312.125% 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 4 days (all we have)−0.070%−$7 · spread now +0.148%, 7d avg −0.029%

Together, before fees−0.070%−$7 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 0.177% dearer against KuCoin than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UMAUSDTM	0.4046	0.0100	pay 0.0050% / 4h	1h 13m	$156K	$63K	30x
Short	BingX UMA-USDT	0.4052	0.0100	get 0.0050% / 4h	1h 13m	—	$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 +0.148%Rate

Funding earned: $0
Price spread: +0.148% → −0.029%: $17.73
Slippage, 4 orders: −$1,190.53
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1,194.8
Costs to cover: 12.125%
Break-even: never at this rate

Slippage from KuCoin: live order book, just now; BingX: live order book, 9 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, just now	14.83 bp	911.3 bp −$911	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	6.17 bp	29.0 bp −$29	76.3 bp −$763	834.6 bp −$83.5K	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
BloFin UMA-USDT	+0.0045%	4h	0.4055	+0.222%	$75K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4052	+0.148%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4047	+0.031%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4048	+0.061%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4048	+0.049%	$671K	$157K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4048	+0.049%	$315K	$238K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4044	−0.049%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4047	+0.025%	$225K	$163K	50x	as long as short
KuCoin UMAUSDTMlong	+0.0100%	4h	0.4046	long leg	$156K	$63K	30x
Bitget UMAUSDT	+0.0100%	4h	0.4053	+0.173%	$976K	$67K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDTshort	+0.0100%	4h	0.4052	+0.148%	—	$2.3M	—
Variational Omni UMA	+0.0100%	4h	0.4056	+0.240%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2648%	1h	0.4058	+0.292%	$14K	$6K	10x	as long as short