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Funding arb · Price arb /

COTI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0608%/8h= +66.5% APRnext payment +$3.04 per $10,000 · paid last 24h +0.052%
Price spread now: BloFin against KuCoin−0.680%65s7-day average +0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$114as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1451.453% of the position
Long on KuCoinShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.314%+$31 on $10k
Price spread, last 4 days (all we have)+2.090%+$209 · spread now −0.680%, 7d avg +0.039%
Together, before fees+2.404%+$240 on $10k · with fees, hour by hour
Funding pays, the price is against you. BloFin is 0.719% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.680% now, against its 7-day average of +0.039%). If the spread goes back, that is −$72 on $10k: about 3.9 days of funding at the current rate (+$18 a day). At the pace of the last 7 days (+0.314% in total) that is about 16 days. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.314% in total (about 16.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.04 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin COTIUSDTM0.01471−0.3018get 0.1509% / 4h12m 10s$1.8M$2.2M50x
ShortBloFin COTI-USDT0.01461−0.2410pay 0.1205% / 4h12m 10s$437K$640K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against KuCoin. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$127.59
Price spread: −0.680% → +0.039%
−$71.86
Slippage, 4 orders
−$121.33
Fee KuCoin: 6 bp × 2 orders
−$12
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$89.6
Costs to cover
1.453%
Break-even
11.9 days
Slippage from KuCoin: live order book, 4 min ago; BloFin: live order book, 24 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy KuCoin live order book, 4 min ago6.86 bp47.5 bp −$47501.0 bp −$5,010doesn't fitdoesn't fit
Sell BloFin live order book, 24 min ago1.73 bp16.6 bp −$1734.8 bp −$348doesn't fitdoesn't fit

COTI on 10 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance COTIUSDT−0.3489%4h0.01468−0.178%$7.9M$43.2M50xas long as short
MEXC COTI_USDT−0.3442%4h0.01468−0.211%$11.9M$2.3M50xas long as short
Aster COTIUSDT−0.3384%4h0.01465−0.414%$12K$334K5xas long as short
KuCoin COTIUSDTMlong−0.3018%4h0.01471long leg$1.8M$2.2M50x
Gate COTI_USDT−0.2984%4h0.014710.000%$436K$1.1M25xas long as short
BloFin COTI-USDTshort−0.2410%4h0.01461−0.680%$437K$640K50x
Bitget COTIUSDT−0.1560%4h0.01469−0.136%$3.3M$3.3M50xas long as short
Bybit COTIUSDT−0.1435%8h0.01469−0.163%$3.7M$9.5M50xas long as short
BingX COTI-USDT−0.0982%4h0.01468−0.231%—$1.6M—as long as short
Variational Omni COTI−0.0446%8h0.01456−1.006%$29K$39K—as long as short