Funding arb · Price arb /

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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: KuCoin against Bybit+0.237%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$204as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$2112.113% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 4 days (all we have)−0.278%−$28 · spread now +0.237%, 7d avg +0.088%

Together, before fees−0.200%−$20 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 0.148% dearer against Bybit than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WUSDT	0.01183	0.0100	pay 0.0050% / 4h	0m 58s	$4.1M	$1.9M	50x
Short	KuCoin WUSDTM	0.01186	0.0100	get 0.0050% / 4h	0m 58s	$466K	$215K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.237%Rate

Funding earned: $0
Price spread: +0.237% → +0.088%: $14.84
Slippage, 4 orders: −$188.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$196.46
Costs to cover: 2.113%
Break-even: never at this rate

Slippage from Bybit: live order book, 7 min ago; KuCoin: live order book, 61 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 Bybit live order book, 7 min ago	5.94 bp	34.3 bp −$34	139.0 bp −$1,390	doesn't fit	doesn't fit
Sell KuCoin live order book, 61 min ago	12.72 bp	75.4 bp −$75	276.4 bp −$2,764	doesn't fit	doesn't fit

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0171%	1h	0.01186	+0.220%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.181%	$1K	$1K	12x	as long as short
OKX W-USDT-SWAP	+0.0038%	4h	0.01185	+0.127%	$1.3M	$2.0M	20x	as long as short
Hyperliquid W	+0.0100%	1h	0.01187	+0.321%	$2.0M	$416K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01186	+0.265%	$3.0M	$6.8M	50x	as long as short
Bybit WUSDTlong	+0.0100%	4h	0.01183	long leg	$4.1M	$1.9M	50x
Gate W_USDT	+0.0100%	4h	0.01186	+0.254%	$448K	$291K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01185	+0.194%	$12.9M	$1.5M	50x	as long as short
KuCoin WUSDTMshort	+0.0100%	4h	0.01186	+0.237%	$466K	$215K	50x
Bitget WUSDT	+0.0100%	4h	0.01186	+0.237%	$1.3M	$571K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01186	+0.220%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01182	−0.060%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01184	+0.065%	$127K	$377K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01185	+0.194%	$59K	$228K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0248%	1h	0.01187	+0.296%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0530%	1h	0.01187	+0.287%	$44K	$46K	15x	as long as short
Kraken Futures PF_WUSD	+0.0715%	1h	0.01188	+0.425%	$147K	$181K	20x	as long as short