Funding arb · Price arb /

WAL

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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 +0.063%

Price spread now: KuCoin against Bybit+0.114%7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$547as in the Funding arb table

Net, price: spread back to 7d avg − costs−$549as in the Price arb table

costs, in and out, $10k−$5685.680% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.213%+$21 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.114%, 7d avg −0.077%

Together, before fees+0.133%+$13 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 0.191% dearer against Bybit than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WALUSDT	0.03521	0.0100	pay 0.0050% / 4h	1h 14m	$1.3M	$1.7M	25x
Short	KuCoin WALUSDTM	0.03525	0.0100	get 0.0050% / 4h	1h 14m	$347K	$66K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → −0.077%: $19.06
Slippage, 4 orders: −$544.99
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$548.92
Costs to cover: 5.680%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; KuCoin: 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 Bybit live order book, 2 min ago	5.67 bp	44.1 bp −$44	408.1 bp −$4,081	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	16.99 bp	286.0 bp −$286	doesn't fit	doesn't fit	doesn't fit

WAL on 10 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
Binance WALUSDT	+0.0100%	4h	0.03517	−0.100%	$2.4M	$6.7M	75x	as long as short
Bybit WALUSDTlong	+0.0100%	4h	0.03521	long leg	$1.3M	$1.7M	25x
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03519	−0.057%	$217K	$1.0M	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03517	−0.114%	$295K	$519K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03521	0.000%	$592K	$291K	20x	as long as short
KuCoin WALUSDTMshort	+0.0100%	4h	0.03525	+0.114%	$347K	$66K	30x
Bitget WALUSDT	+0.0100%	4h	0.03522	+0.028%	$611K	$921K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03522	+0.028%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03530	+0.250%	$23K	$9K	—	as long as short
Bluefin WAL-PERP	+0.0100%	1h	0.03522	+0.028%	$32K	$793K	20x	as long as short