Funding arb · Price arb /

UMA

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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: Bybit against KuCoin+0.050%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,258as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,252as in the Price arb table

costs, in and out, $10k−$1,25812.578% of the position

Long on KuCoin Short on Bybit

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)+0.002%$0 · spread now +0.050%, 7d avg −0.007%

Together, before fees+0.002%$0 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 0.057% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin UMAUSDTM	0.4031	0.0100	pay 0.0050% / 4h	33m 31s	$156K	$63K	30x
Short	Bybit UMAUSDT	0.4033	0.0100	get 0.0050% / 4h	33m 31s	$668K	$154K	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 +0.050%Rate

Funding earned: $0
Price spread: +0.050% → −0.007%: $5.7
Slippage, 4 orders: −$1,234.79
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,252.09
Costs to cover: 12.578%
Break-even: never at this rate

Slippage from KuCoin: live order book, 41 min ago; Bybit: live order book, 17 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, 41 min ago	14.83 bp	911.3 bp −$911	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 17 min ago	7.44 bp	49.2 bp −$49	273.5 bp −$2,735	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
BloFin UMA-USDT	+0.0040%	4h	0.4038	+0.174%	$74K	$8K	50x	as long as short
Hyperliquid UMA	+0.0100%	1h	0.4038	+0.166%	$214K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4032	+0.025%	$24K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4035	+0.090%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDTshort	+0.0100%	4h	0.4033	+0.050%	$668K	$154K	25x
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4037	+0.149%	$313K	$240K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4031	0.000%	$78K	$45K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4032	+0.025%	$221K	$164K	50x	as long as short
KuCoin UMAUSDTMlong	+0.0100%	4h	0.4031	long leg	$156K	$63K	30x
Bitget UMAUSDT	+0.0100%	4h	0.4040	+0.223%	$972K	$66K	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-USDT	+0.0100%	4h	0.4031	0.000%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4033	+0.045%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.2356%	1h	0.4039	+0.204%	$14K	$6K	10x	as long as short