Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.022%

Price spread now: QFEX against KuCoin−0.028%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$1,539as in the Price arb table

costs, in and out, $10k−$1,53215.316% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.098%−$10 on $10k

Price spread, last 7 days+0.244%+$24 · spread now −0.028%, 7d avg +0.046%

Together, before fees+0.146%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and QFEX is 0.074% cheaper against KuCoin than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin COSTUSDTM	898.90	0.0100	pay 0.0100% / 8h	5h 26m	$47K	$872K	20x
Short	QFEX COST-USD	898.65	0.0005	get 0.0001% / 1h	26m 31s	$1.1M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$20.03
Price spread: −0.028% → +0.046%: −$7.36
Slippage, 4 orders: −$1,509.56
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$1,558.95
Costs to cover: 15.316%
Break-even: never at this rate

Slippage from KuCoin: live order book, 18 min ago; QFEX: live order book, 6 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, 18 min ago	33.92 bp	337.1 bp −$337	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	251.12 bp	256.1 bp −$256	260.5 bp −$2,605	doesn't fit	doesn't fit

COST on 15 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 COSTUSDT	0.0000%	8h	898.83	−0.008%	$45K	$178	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	898.66	−0.027%	$491K	$218K	25x	as long as short
OKX COST-USDT-SWAP	0.0000%	8h	898.81	−0.010%	$447K	$109K	10x	as long as short
Gate COST_USDT	0.0000%	8h	898.93	+0.003%	$520K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	898.88	−0.002%	$403K	$102K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.30	−0.067%	$1K	$3.0M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.77	+0.208%	$10K	$42K	10x	as long as short
QFEX COST-USDshort	+0.0005%	1h	898.65	−0.028%	$1.1M	$2.9M	10x
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.770%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.072%	—	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest COST-USD-PERP	+0.0046%	1h	898.55	−0.039%	—	—	25x	as long as short
Variational Omni COST	+0.0050%	8h	898.76	−0.016%	$42K	$17K	—	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.59	−0.034%	$1.8M	$515K	20x	as long as short
KuCoin COSTUSDTMlong	+0.0100%	8h	898.90	long leg	$47K	$872K	20x
Binance COSTUSDT	+0.0149%	8h	898.95	+0.006%	$1.1M	$929K	20x	as long as short