Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.009%

Price spread now: Markets by Kinetiq against HTX−0.314%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Markets by Kinetiq

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Markets by Kinetiq is 0.314% cheaper against HTX than usual: you would sell low and buy high (spread −0.314% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 3 months of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX IWM-USDT	286.31	0	get 0.0000% / 8h	1h 37m	$696	$37K	20x
Short	Markets by Kinetiq mkts:SMALL2000	285.41	0.0010	get 0.0001% / 1h	37m 47s	$566K	$363K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Markets by Kinetiq against HTX. 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 HTXbpFee Markets by KinetiqbpOrdersPrice spread, now −0.314%Rate

Funding earned: $2.19
Price spread: −0.314% → 0.000%: −$31.43
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Markets by Kinetiq: 0.81 bp × 2 orders: −$1.62
Net: −$42.87
Costs to cover: 0.136%
Break-even: 144.3 days

Slippage unknown: HTX: no order-book sample; Markets by Kinetiq: live order book, 28 min ago. Net counts fees only.

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 HTX no order-book sample	—	—	—	—	—
Sell Markets by Kinetiq live order book, 28 min ago	0.88 bp	4.0 bp −$4	63.8 bp −$638	doesn't fit	doesn't fit

HTX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

IWM on 17 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 IWMUSDT	0.0000%	8h	285.58	−0.255%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.49	−0.286%	$557K	$60K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.32	−0.346%	$426K	$156K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.64	−0.234%	$608K	$160K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.76	−0.192%	$442K	$15K	20x	as long as short
SunX IWM-USDT	0.0000%	8h	285.71	−0.210%	$1K	$455K	10x	as long as short
HTX IWM-USDTlong	0.0000%	8h	286.31	long leg	$696	$37K	20x
Phemex IWMUSDT	0.0000%	8h	285.70	−0.213%	$765K	$80K	10x	as long as short
Markets by Kinetiq mkts:SMALL2000short	+0.0010%	1h	285.41	−0.314%	$566K	$363K	20x
Variational Omni IWM	+0.0017%	8h	285.91	−0.140%	$160K	$207K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWM	+0.0032%	1h	286.09	−0.077%	$75K	$19K	10x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.42	−0.311%	—	—	25x	as long as short
Binance IWMUSDT	+0.0082%	8h	285.61	−0.244%	$1.1M	$1.2M	20x	as long as short
MEXC IWM_USDT	+0.0082%	8h	285.65	−0.231%	$885K	$82K	50x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.73	−0.203%	$138K	$847K	20x	as long as short
BloFin IWM-USDT	+0.0108%	8h	285.94	−0.129%	$65K	$33K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0655%	8h	285.88	−0.150%	$286	$105K	10x	as long as short