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: BingX against KuCoin−0.187%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$250as in the Funding arb table

Net, price: spread back to 7d avg − costs−$264as in the Price arb table

costs, in and out, $10k−$2502.500% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.179%+$18 · spread now −0.187%, 7d avg −0.044%

Together, before fees+0.177%+$18 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 0.142% cheaper against KuCoin than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WUSDTM	0.01177	0.0100	pay 0.0050% / 4h	1h 35m	$482K	$245K	50x
Short	BingX W-USDT	0.01175	0.0100	get 0.0050% / 4h	1h 35m	—	$6.9M	—

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 −0.187%Rate

Funding earned: $0
Price spread: −0.187% → −0.044%: −$14.24
Slippage, 4 orders: −$227.97
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$264.22
Costs to cover: 2.500%
Break-even: never at this rate

Slippage from KuCoin: live order book, 36 min ago; BingX: live order book, 2 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, 36 min ago	8.54 bp	104.2 bp −$104	297.2 bp −$2,972	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	2.98 bp	23.4 bp −$23	58.1 bp −$581	548.2 bp −$54.8K	1116.1 bp −$558.0K

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	−0.0771%	1h	0.01175	−0.212%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	−0.0041%	4h	0.01174	−0.255%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.719%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01175	−0.170%	$2.0M	$433K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01174	−0.238%	$2.9M	$7.0M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01175	−0.204%	$4.1M	$2.0M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01177	−0.034%	$446K	$291K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01174	−0.221%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01177	long leg	$482K	$245K	50x
Bitget WUSDT	+0.0100%	4h	0.01177	0.000%	$1.3M	$577K	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-USDTshort	+0.0100%	4h	0.01175	−0.187%	—	$6.9M	—
Variational Omni W	+0.0100%	4h	0.01176	−0.088%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01177	+0.007%	$129K	$419K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01174	−0.250%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0240%	1h	0.01180	+0.297%	$14K	$18K	50x	as long as short
Backpack W_USDC_PERP	+0.0337%	1h	0.01176	−0.093%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.0398%	1h	0.01177	−0.025%	$146K	$185K	20x	as long as short