Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h −0.020%

Price spread now: Arcus against KuCoin−0.075%7-day average −0.096% · 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−$29as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on KuCoin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.079%−$8 on $10k

Price spread, last 7 days+0.068%+$7 · spread now −0.075%, 7d avg −0.096%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.021% dearer against KuCoin than usual: you sell high and buy low (spread −0.075% now, against its 7-day average of −0.096%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin QQQUSDTM	744.28	0.0100	pay 0.0100% / 8h	6h 16m	$3.4M	$412K	20x
Short	Arcus QQQ-USD	743.72	0.0040	get 0.0005% / 1h	16m 55s	$705K	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$12.54
Price spread: −0.075% → −0.096%: $2.11
Slippage, 4 orders: −$14.63
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$41.57
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Arcus: live order book, 2 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, 5 min ago	1.88 bp	8.1 bp −$8	86.7 bp −$867	doesn't fit	doesn't fit
Sell Arcus live order book, 2 min ago	0.40 bp	6.6 bp −$7	13.0 bp −$130	doesn't fit	doesn't fit

QQQ on 27 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
GMX QQQ/USD [ETH-USDC]	L −0.0101% / S +0.0205%	1h	744.68	+0.054%	$25K	—	26x	as long as short
Ondo Perps QQQ-USD.P	−0.0097%	1h	743.32	−0.129%	$4.2M	$1.9M	20x	as long as short
Bybit QQQUSDT	0.0000%	8h	744.72	+0.059%	$10.7M	$5.0M	50x	as long as short
OKX QQQ-USDT-SWAP	0.0000%	8h	744.48	+0.027%	$21.7M	$26.5M	50x	as long as short
Gate QQQ_USDT	0.0000%	8h	744.15	−0.017%	$3.3M	$23.2M	50x	as long as short
SunX QQQ-USDT	0.0000%	8h	745.09	+0.109%	$2K	$2.1M	10x	as long as short
Deribit QQQ_USDC-PERPETUAL	0.0000%	1h	744.32	+0.005%	$425K	$148K	20x	as long as short
HTX QQQ-USDT	0.0000%	8h	744.70	+0.056%	$257K	$29K	30x	as long as short
Phemex QQQUSDT	0.0000%	8h	744.84	+0.075%	$358K	$1.4M	10x	as long as short
Aster QQQUSDT	+0.0006%	8h	744.46	+0.024%	$841K	$712K	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget QQQUSDT	+0.0030%	8h	744.67	+0.052%	$16.9M	$5.9M	20x	as long as short
Lighter QQQ	+0.0032%	1h	744.40	+0.016%	$7.7M	$17.8M	30x	as long as short
Lighter RH QQQ	+0.0032%	1h	744.83	+0.074%	$37.4M	$80.3M	50x	as long as short
Arcus QQQ-USDshort	+0.0040%	1h	743.72	−0.075%	$705K	$1.6M	25x
Vest QQQ-USD-PERP	+0.0046%	1h	745.57	+0.173%	—	$337K	50x	as long as short
Coinbase International QQQ-PERP-INTX	+0.0048%	1h	744.11	−0.023%	$1.2M	$538K	20x	as long as short
Variational Omni QQQ	+0.0057%	8h	744.49	+0.028%	$17.1M	$7.5M	—	as long as short
Binance QQQUSDT	+0.0083%	8h	744.54	+0.035%	$71.1M	$147.3M	25x	as long as short
KuCoin QQQUSDTMlong	+0.0100%	8h	744.28	long leg	$3.4M	$412K	20x
ApeX Omni QQQUSDT	+0.0100%	1h	744.10	−0.024%	$20K	$2.2M	50x	as long as short
Orderly PERP_QQQ_USDC_mythos	+0.0100%	8h	744.36	+0.011%	$12K	$21K	20x	as long as short
Aevo QQQ-PERP	+0.0104%	1h	743.86	−0.057%	$93K	$1K	10x	as long as short
Nado QQQ-PERP	+0.0122%	1h	744.28	0.000%	$1.5M	$952K	20x	as long as short
RISEx QQQ/USDC	+0.0168%	1h	744.67	+0.053%	$5.4M	$8.0M	25x	as long as short
Phoenix QQQ	+0.0183%	1h	744.18	−0.013%	$38K	$66K	20x	as long as short
GRVT QQQ_USDT_Perp	+0.0198%	8h	744.63	+0.047%	$320K	$1.8M	10x	as long as short
edgeX QQQUSDC	+0.0490%	4h	744.37	+0.012%	$761K	$335K	20x	as long as short