Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.009%

Price spread now: SunX against Markets by Kinetiq+0.189%7-day average −0.003% · you sell dearer than you buy

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

Long on Markets by Kinetiq Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 4 days (all we have)−0.125%−$12 · spread now +0.189%, 7d avg −0.003%

Together, before fees−0.291%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.192% dearer against Markets by Kinetiq than usual: you sell high and buy low (spread +0.189% now, against its 7-day average of −0.003%): +$19 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Markets by Kinetiq mkts:SMALL2000	285.42	0.0046	pay 0.0006% / 1h	45m 38s	$566K	$371K	20x
Short	SunX IWM-USDT	285.96	0	get 0.0000% / 8h	2h 45m	$1K	$467K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Markets by Kinetiq. 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 Markets by KinetiqbpFee SunXbpOrdersPrice spread, now +0.189%Rate

Funding earned: −$9.59
Price spread: +0.189% → −0.003%: $19.23
Slippage, 4 orders: no order book: not counted
Fee Markets by Kinetiq: 0.81 bp × 2 orders: −$1.62
Fee SunX: 4 bp × 2 orders: −$8
Net: $0.02
Costs to cover: 0.096%
Break-even: from the start

Slippage unknown: Markets by Kinetiq: live order book, 30 min ago; SunX: live order book, 25 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 Markets by Kinetiq live order book, 30 min ago	2.80 bp	5.9 bp −$6	42.0 bp −$420	doesn't fit	doesn't fit
Sell SunX live order book, 25 min ago	244.09 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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	285.69	+0.096%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.58	+0.056%	$554K	$61K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.77	+0.123%	$400K	$117K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.92	+0.175%	$609K	$159K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.86	+0.154%	$443K	$14K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.90	+0.168%	$160K	$207K	—	as long as short
SunX IWM-USDTshort	0.0000%	8h	285.96	+0.189%	$1K	$467K	10x
HTX IWM-USDT	0.0000%	8h	286.22	+0.280%	$552	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.95	+0.186%	$766K	$79K	10x	as long as short
MEXC IWM_USDT	+0.0007%	8h	285.81	+0.137%	$886K	$82K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin IWM-USDT	+0.0009%	8h	285.95	+0.186%	$65K	$32K	20x	as long as short
Binance IWMUSDT	+0.0010%	8h	285.96	+0.190%	$1.1M	$1.1M	20x	as long as short
Lighter IWM	+0.0032%	1h	285.75	+0.116%	$75K	$19K	10x	as long as short
Markets by Kinetiq mkts:SMALL2000long	+0.0046%	1h	285.42	long leg	$566K	$371K	20x
Vest IWM-USD-PERP	+0.0046%	1h	285.44	+0.007%	—	—	25x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.89	+0.165%	$138K	$853K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0650%	8h	285.93	+0.179%	$297	$108K	10x	as long as short