Funding arb · Price arb /

EWZ

RWAall EWZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0574%/8h= −62.9% APRpaid last 24h −0.121%

Price spread now: tradeXYZ against KuCoin+0.221%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$746as in the Funding arb table

Net, price: spread back to 7d avg − costs−$740as in the Price arb table

costs, in and out, $10k−$7617.608% of the position

Long on KuCoin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 4 days (all we have)−0.196%−$20 · spread now +0.221%, 7d avg +0.012%

Together, before fees−0.044%+ Points / potential airdroptradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.210% dearer against KuCoin than usual: you sell high and buy low (spread +0.221% now, against its 7-day average of +0.012%): +$21 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 29 hours. Mind the row above: over the last 7 days funding on this pair paid +0.152%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.152% in total (about 7.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin EWZUSDTM	37.930	0.0100	pay 0.0100% / 8h	4h 05m	$21K	$716K	20x
Short	tradeXYZ xyz:EWZ	38.014	−0.0474	pay 0.0059% / 1h	5m 34s	$593K	$81K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.221%Rate

Funding earned: −$120.56
Price spread: +0.221% → +0.012%: $20.97
Slippage, 4 orders: −$730.78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$860.37
Costs to cover: 7.608%
Break-even: never at this rate

Slippage from KuCoin: live order book, 14 min ago; tradeXYZ: live order book, 21 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, 14 min ago	1.32 bp	357.0 bp −$357	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 21 min ago	7.50 bp	37.6 bp −$38	doesn't fit	doesn't fit	doesn't fit

EWZ on 13 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
tradeXYZ xyz:EWZshort	−0.0474%	1h	38.014	+0.221%	$593K	$81K	20x
Aster EWZUSDT	0.0000%	8h	37.995	+0.172%	$9K	$50	20x	as long as short
Binance EWZUSDT	0.0000%	8h	37.990	+0.158%	$295K	$229K	20x	as long as short
Bybit EWZUSDT	0.0000%	8h	37.980	+0.132%	$328K	$17K	25x	as long as short
OKX EWZ-USDT-SWAP	0.0000%	8h	38.060	+0.343%	$124K	$38K	20x	as long as short
Gate EWZ_USDT	0.0000%	8h	37.980	+0.132%	$61K	$7K	20x	as long as short
MEXC EWZ_USDT	0.0000%	8h	38.000	+0.185%	$723K	$84K	50x	as long as short
Bitget EWZUSDT	0.0000%	8h	38.005	+0.198%	$80K	$19K	20x	as long as short
Variational Omni EWZ	0.0000%	8h	38.003	+0.193%	$49K	$6K	—	as long as short
SunX EWZ-USDT	0.0000%	8h	38.010	+0.211%	$1K	$484K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX EWZ-USDT	0.0000%	8h	37.970	+0.105%	$5K	$6K	10x	as long as short
GRVT EWZ_USDT_Perp	+0.0005%	8h	38.018	+0.232%	$3	$142K	10x	as long as short
KuCoin EWZUSDTMlong	+0.0100%	8h	37.930	long leg	$21K	$716K	20x