Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.001%

Price spread now: Coinbase International against KuCoin−0.011%7-day average −0.274% · you buy dearer than you sell

Net, funding: paid 7d − costs−$265as in the Funding arb table

Net, price: spread back to 7d avg − costs−$240as in the Price arb table

costs, in and out, $10k−$2672.665% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.011%, 7d avg −0.274%

Together, before fees+0.028%+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.263% dearer against KuCoin than usual: you sell high and buy low (spread −0.011% now, against its 7-day average of −0.274%): +$26 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BEUSDTM	273.63	0.0100	pay 0.0100% / 8h	3h 25m	$370K	$20K	20x
Short	Coinbase International BE-PERP-INTX	273.60	0.0064	get 0.0008% / 1h	25m 13s	$477K	$136K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$7.56
Price spread: −0.011% → −0.274%: $26.31
Slippage, 4 orders: −$244.51
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$247.76
Costs to cover: 2.665%
Break-even: never at this rate

Slippage from KuCoin: live order book, 47 min ago; Coinbase International: live order book, 28 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, 47 min ago	18.89 bp	87.7 bp −$88	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 28 min ago	4.55 bp	9.6 bp −$10	19.3 bp −$193	doesn't fit	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	273.73	+0.036%	$344K	$119K	20x	as long as short
Gate BE_USDT	0.0000%	8h	273.50	−0.048%	$1.4M	$3.4M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	273.42	−0.077%	$1.6M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	274.48	+0.311%	$7K	$163K	10x	as long as short
SunX BE-USDT	0.0000%	8h	274.01	+0.139%	$1K	$2.4M	10x	as long as short
Deribit BE_USDC-PERPETUAL	0.0000%	1h	273.42	−0.077%	$7K	$4K	10x	as long as short
HTX BE-USDT	0.0000%	8h	273.90	+0.099%	$13K	$35K	20x	as long as short
Binance BEUSDT	+0.0021%	8h	273.54	−0.033%	$8.4M	$36.7M	25x	as long as short
Extended BE-USD	+0.0024%	1h	273.46	−0.061%	$47K	$262K	10x	as long as short
Bybit BEUSDT	+0.0027%	8h	273.61	−0.007%	$2.0M	$1.1M	25x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BE	+0.0032%	1h	273.39	−0.088%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	273.54	−0.033%	$250K	$290K	10x	as long as short
QFEX BE-USD	+0.0036%	1h	273.45	−0.066%	$1.3M	$2.6M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	273.79	+0.058%	$114K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	273.61	−0.007%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	273.45	−0.066%	$5.9M	$2.7M	10x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0064%	1h	273.60	−0.011%	$477K	$136K	10x
BloFin BE-USDT	+0.0086%	8h	273.61	−0.007%	$45K	$142K	20x	as long as short
KuCoin BEUSDTMlong	+0.0100%	8h	273.63	long leg	$370K	$20K	20x
Aevo BE-PERP	+0.0104%	1h	273.62	−0.005%	—	—	10x	as long as short
OKX BE-USDT-SWAP	+0.0111%	8h	273.73	+0.037%	$2.7M	$6.9M	25x	as long as short