Funding arb · Price arb /

W

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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: Binance against KuCoin+0.180%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$324as in the Funding arb table

Net, price: spread back to 7d avg − costs−$299as in the Price arb table

costs, in and out, $10k−$3173.171% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now +0.180%, 7d avg +0.004%

Together, before fees+0.015%+$2 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: Binance is 0.176% dearer against KuCoin than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WUSDTM	0.01167	0.0100	pay 0.0050% / 4h	2h 30m	$418K	$216K	50x
Short	Binance WUSDT	0.01169	0.0100	get 0.0050% / 4h	2h 30m	$2.9M	$7.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.180%Rate

Funding earned: $0
Price spread: +0.180% → +0.004%: $17.57
Slippage, 4 orders: −$295.07
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$299.5
Costs to cover: 3.171%
Break-even: never at this rate

Slippage from KuCoin: live order book, 51 min ago; Binance: live order book, 8 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, 51 min ago	4.26 bp	158.0 bp −$158	368.3 bp −$3,683	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.86 bp	24.7 bp −$25	84.6 bp −$846	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	−0.0434%	1h	0.01169	+0.197%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	+0.0003%	4h	0.01168	+0.094%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.599%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01170	+0.257%	$2.0M	$461K	5x	as long as short
Binance WUSDTshort	+0.0100%	4h	0.01169	+0.180%	$2.9M	$7.6M	50x
Bybit WUSDT	+0.0100%	4h	0.01167	0.000%	$4.1M	$2.1M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01169	+0.163%	$443K	$301K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01169	+0.154%	$12.8M	$1.7M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01167	long leg	$418K	$216K	50x
Bitget WUSDT	+0.0100%	4h	0.01170	+0.257%	$1.2M	$573K	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	0.01169	+0.154%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01170	+0.257%	$43K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01170	+0.219%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01172	+0.407%	$122K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01169	+0.167%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01168	+0.086%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0621%	1h	0.01172	+0.413%	$145K	$185K	20x	as long as short