Funding arb · Price arb /

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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+0.042%7-day average −0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$300as in the Funding arb table

Net, price: spread back to 7d avg − costs−$281as in the Price arb table

costs, in and out, $10k−$2942.941% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.042%, 7d avg −0.091%

Together, before fees−0.060%−$6 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 0.133% dearer against KuCoin than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WUSDTM	0.01195	0.0100	pay 0.0050% / 4h	3h 14m	$458K	$217K	50x
Short	Bybit WUSDT	0.01196	0.0100	get 0.0050% / 4h	3h 14m	$4.2M	$1.9M	50x

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 +0.042%Rate

Funding earned: $0
Price spread: +0.042% → −0.091%: $13.33
Slippage, 4 orders: −$271.15
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$280.82
Costs to cover: 2.941%
Break-even: never at this rate

Slippage from KuCoin: live order book, 38 min ago; Bybit: live order book, 3 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, 38 min ago	12.62 bp	112.1 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	5.04 bp	32.1 bp −$32	133.0 bp −$1,330	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	−0.0419%	1h	0.01195	−0.033%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.172%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01195	0.000%	$2.0M	$409K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01195	+0.010%	$3.0M	$6.7M	50x	as long as short
Bybit WUSDTshort	+0.0100%	4h	0.01196	+0.042%	$4.2M	$1.9M	50x
OKX W-USDT-SWAP	+0.0100%	4h	0.01195	−0.025%	$1.3M	$2.0M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01191	−0.335%	$449K	$284K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01195	0.000%	$12.9M	$1.5M	50x	as long as short
KuCoin WUSDTMlong	+0.0100%	4h	0.01195	long leg	$458K	$217K	50x
Bitget WUSDT	+0.0100%	4h	0.01195	0.000%	$1.3M	$570K	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	0.01194	−0.092%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01191	−0.338%	$72K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01192	−0.242%	$132K	$388K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01195	+0.040%	$60K	$240K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0280%	1h	0.01195	+0.025%	$14K	$16K	50x	as long as short
Kraken Futures PF_WUSD	+0.1314%	1h	0.01197	+0.171%	$148K	$181K	20x	as long as short
Backpack W_USDC_PERP	+0.1431%	1h	0.01196	+0.117%	$45K	$47K	15x	as long as short