Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.185%

Price spread now: KuCoin against Deribit−0.051%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. KuCoin is 0.051% cheaper against Deribit than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit W_USDC-PERPETUAL	0.01179	−0.0004	get 0.0001% / 1h	47m 09s	$16K	$2K	10x
Short	KuCoin WUSDTM	0.01178	0.0100	get 0.0050% / 4h	47m 09s	$381K	$212K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now −0.051%Rate

Funding earned: $21.93
Price spread: −0.051% → 0.000%: −$5.09
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$2.16
Costs to cover: 0.190%
Break-even: 7.7 days

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 35 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 35 min ago	16.79 bp	105.2 bp −$105	312.8 bp −$3,128	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUALlong	−0.0004%	1h	0.01179	long leg	$16K	$2K	10x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.579%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01179	+0.034%	$2.0M	$345K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01179	+0.046%	$2.9M	$6.5M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01178	−0.076%	$4.1M	$1.9M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01178	−0.085%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01178	−0.085%	$446K	$229K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01179	+0.042%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTMshort	+0.0100%	4h	0.01178	−0.051%	$381K	$212K	50x
Bitget WUSDT	+0.0100%	4h	0.01179	+0.034%	$1.3M	$582K	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	0.01178	−0.042%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01178	−0.090%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01178	−0.016%	$128K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01179	+0.039%	$59K	$235K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01185	+0.543%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.0453%	1h	0.01180	+0.161%	$44K	$44K	15x	as long as short
Kraken Futures PF_WUSD	+0.1691%	1h	0.01182	+0.274%	$146K	$183K	20x	as long as short