Funding arb · Price arb /

IWM

RWAall IWM markets

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 SunX−0.105%7-day average +0.001% · you buy dearer than you sell

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

Long on SunX Short on Markets by Kinetiq

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)+0.059%+$6 · spread now −0.105%, 7d avg +0.001%

Together, before fees+0.226%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Markets by Kinetiq is 0.106% cheaper against SunX than usual: you would sell low and buy high (spread −0.105% now, against its 7-day average of +0.001%). If the spread goes back, that is −$11 on $10k: about 34 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.166% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX IWM-USDT	285.71	0	get 0.0000% / 8h	1h 37m	$1K	$455K	10x
Short	Markets by Kinetiq mkts:SMALL2000	285.41	0.0010	get 0.0001% / 1h	37m 45s	$566K	$363K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Markets by Kinetiq against SunX. 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 SunXbpFee Markets by KinetiqbpOrdersPrice spread, now −0.105%Rate

Funding earned: $2.19
Price spread: −0.105% → +0.001%: −$10.56
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Markets by Kinetiq: 0.81 bp × 2 orders: −$1.62
Net: −$17.99
Costs to cover: 0.096%
Break-even: 64.6 days

Slippage unknown: SunX: live order book, 23 min ago; 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 SunX live order book, 23 min ago	500.15 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
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

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	−0.045%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.49	−0.077%	$557K	$60K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.32	−0.137%	$426K	$156K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.64	−0.025%	$608K	$160K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.76	+0.018%	$442K	$15K	20x	as long as short
SunX IWM-USDTlong	0.0000%	8h	285.71	long leg	$1K	$455K	10x
HTX IWM-USDT	0.0000%	8h	286.31	+0.210%	$696	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.70	−0.004%	$765K	$80K	10x	as long as short
Markets by Kinetiq mkts:SMALL2000short	+0.0010%	1h	285.41	−0.105%	$566K	$363K	20x
Variational Omni IWM	+0.0017%	8h	285.91	+0.070%	$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	+0.133%	$75K	$19K	10x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.42	−0.102%	—	—	25x	as long as short
Binance IWMUSDT	+0.0082%	8h	285.61	−0.035%	$1.1M	$1.2M	20x	as long as short
MEXC IWM_USDT	+0.0082%	8h	285.65	−0.021%	$885K	$82K	50x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.73	+0.007%	$138K	$847K	20x	as long as short
BloFin IWM-USDT	+0.0108%	8h	285.94	+0.081%	$65K	$33K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0655%	8h	285.88	+0.060%	$286	$105K	10x	as long as short