Funding arb · Price arb /

XAI

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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 0.000%

Price spread now: Bybit against KuCoin−0.101%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$871as in the Funding arb table

Net, price: spread back to 7d avg − costs−$874as in the Price arb table

costs, in and out, $10k−$8638.629% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.101%, 7d avg +0.008%

Together, before fees−0.009%−$1 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 0.109% cheaper against KuCoin than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XAIUSDTM	0.007930	0.0100	pay 0.0050% / 4h	40m 17s	$168K	$44K	25x
Short	Bybit XAIUSDT	0.007922	0.0100	get 0.0050% / 4h	40m 17s	$678K	$378K	25x

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 −0.101%Rate

Funding earned: $0
Price spread: −0.101% → +0.008%: −$10.9
Slippage, 4 orders: −$839.91
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$873.81
Costs to cover: 8.629%
Break-even: never at this rate

Slippage from KuCoin: live order book, 61 min ago; Bybit: live order book, 55 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, 61 min ago	25.25 bp	184.0 bp −$184	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 55 min ago	4.43 bp	89.2 bp −$89	339.0 bp −$3,390	doesn't fit	doesn't fit

XAI 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
Hyperliquid XAI	+0.0100%	1h	0.007930	0.000%	$406K	$63K	3x	as long as short
Aster XAIUSDT	+0.0100%	4h	0.007930	−0.006%	$7K	$23K	5x	as long as short
Binance XAIUSDT	+0.0100%	4h	0.007930	0.000%	$1.6M	$1.8M	25x	as long as short
Bybit XAIUSDTshort	+0.0100%	4h	0.007922	−0.101%	$678K	$378K	25x
Gate XAI_USDT	+0.0100%	4h	0.007933	+0.038%	$78K	$38K	50x	as long as short
MEXC XAI_USDT	+0.0100%	4h	0.007929	−0.013%	$1.9M	$423K	50x	as long as short
KuCoin XAIUSDTMlong	+0.0100%	4h	0.007930	long leg	$168K	$44K	25x
Bitget XAIUSDT	+0.0100%	4h	0.007935	+0.063%	$467K	$288K	25x	as long as short
BingX XAI-USDT	+0.0100%	4h	0.007929	−0.013%	—	$2.3M	—	as long as short
BloFin XAI-USDT	+0.0128%	4h	0.007931	+0.013%	$161K	$19K	25x	as long as short