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 0.000%

Price spread now: BingX against KuCoin0.000%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$720as in the Funding arb table

Net, price: spread back to 7d avg − costs−$704as in the Price arb table

costs, in and out, $10k−$7007.000% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.202%−$20 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now 0.000%, 7d avg +0.040%

Together, before fees−0.249%−$25 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 0.040% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WALUSDTM	0.03436	0.0100	pay 0.0050% / 4h	3h 39m	$342K	$71K	30x
Short	BingX WAL-USDT	0.03436	0.0100	get 0.0050% / 4h	3h 39m	—	$6.6M	—

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 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.040%: −$4.03
Slippage, 4 orders: −$678.01
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$704.03
Costs to cover: 7.000%
Break-even: never at this rate

Slippage from KuCoin: live order book, 12 min ago; BingX: 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, 12 min ago	14.60 bp	402.9 bp −$403	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	5.84 bp	27.0 bp −$27	84.9 bp −$849	562.6 bp −$56.3K	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	0.03433	−0.092%	$2.3M	$6.3M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03435	−0.029%	$1.3M	$1.5M	25x	as long as short
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03430	−0.175%	$220K	$858K	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03437	+0.029%	$291K	$424K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03433	−0.087%	$563K	$269K	20x	as long as short
KuCoin WALUSDTMlong	+0.0100%	4h	0.03436	long leg	$342K	$71K	30x
Bitget WALUSDT	+0.0100%	4h	0.03436	0.000%	$587K	$866K	20x	as long as short
BingX WAL-USDTshort	+0.0100%	4h	0.03436	0.000%	—	$6.6M	—
Variational Omni WAL	+0.0100%	4h	0.03437	+0.028%	$21K	$7K	—	as long as short
Bluefin WAL-PERP	+0.0172%	1h	0.03446	+0.291%	$32K	$759K	20x	as long as short