Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.030%

Price spread now: KuCoin against OKX−0.421%7-day average +0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$266as in the Funding arb table

Net, price: spread back to 7d avg − costs−$325as in the Price arb table

costs, in and out, $10k−$2782.775% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 4 days (all we have)+0.179%+$18 · spread now −0.421%, 7d avg +0.054%

Together, before fees+0.293%+$29 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 0.474% cheaper against OKX than usual: you would sell low and buy high, −$47 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX W-USDT-SWAP	0.01189	0.0100	pay 0.0050% / 4h	3h 53m	$1.3M	$1.8M	20x
Short	KuCoin WUSDTM	0.01184	0.0100	get 0.0050% / 4h	3h 53m	$375K	$210K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now −0.421%Rate

Funding earned: $0
Price spread: −0.421% → +0.054%: −$47.43
Slippage, 4 orders: −$255.52
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$324.95
Costs to cover: 2.775%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; KuCoin: live order book, 19 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 OKX live order book, 3 min ago	1.69 bp	29.0 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 19 min ago	8.42 bp	102.7 bp −$103	229.5 bp −$2,295	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	−0.0508%	1h	0.01187	−0.202%	$15K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.682%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01187	−0.168%	$2.0M	$326K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01189	−0.006%	$3.0M	$6.2M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01186	−0.219%	$4.2M	$1.8M	50x	as long as short
OKX W-USDT-SWAPlong	+0.0100%	4h	0.01189	long leg	$1.3M	$1.8M	20x
Gate W_USDT	+0.0100%	4h	0.01186	−0.219%	$449K	$210K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01187	−0.160%	$12.8M	$1.3M	50x	as long as short
KuCoin WUSDTMshort	+0.0100%	4h	0.01184	−0.421%	$375K	$210K	50x
Bitget WUSDT	+0.0100%	4h	0.01187	−0.168%	$1.3M	$568K	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	0.01187	−0.210%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01185	−0.366%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01187	−0.168%	$128K	$402K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01187	−0.154%	$60K	$233K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0440%	1h	0.01195	+0.538%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.1580%	1h	0.01189	−0.034%	$44K	$43K	15x	as long as short
Kraken Futures PF_WUSD	+0.1759%	1h	0.01190	+0.072%	$147K	$184K	20x	as long as short