Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin−0.133%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$696as in the Funding arb table

Net, price: spread back to 7d avg − costs−$708as in the Price arb table

costs, in and out, $10k−$6966.961% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.133%, 7d avg −0.013%

Together, before fees+0.101%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.121% cheaper against KuCoin than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin INITUSDTM	0.08270	0.0100	pay 0.0050% / 4h	3h 33m	$329K	$54K	25x
Short	BingX INIT-USDT	0.08259	0.0100	get 0.0050% / 4h	3h 33m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.133%Rate

Funding earned: $0
Price spread: −0.133% → −0.013%: −$12.05
Slippage, 4 orders: −$674.07
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$708.12
Costs to cover: 6.961%
Break-even: never at this rate

Slippage from KuCoin: live order book, 17 min ago; BingX: live order book, 3 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, 17 min ago	28.42 bp	382.3 bp −$382	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	5.43 bp	22.8 bp −$23	79.1 bp −$791	492.9 bp −$49.3K	847.7 bp −$423.8K

INIT on 13 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
Hyperliquid INIT	+0.0100%	1h	0.08268	−0.018%	$301K	$234K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08265	−0.062%	$27K	$37K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08270	0.000%	$3.4M	$3.7M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08258	−0.145%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08264	−0.073%	$137K	$643K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08258	−0.145%	$84K	$55K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08268	−0.024%	$449K	$219K	20x	as long as short
KuCoin INITUSDTMlong	+0.0100%	4h	0.08270	long leg	$329K	$54K	25x
Bitget INITUSDT	+0.0100%	4h	0.08265	−0.060%	$431K	$310K	25x	as long as short
BingX INIT-USDTshort	+0.0100%	4h	0.08259	−0.133%	—	$6.6M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08260	−0.124%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0145%	4h	0.08269	−0.012%	$154K	$112K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0192%	1h	0.08270	−0.003%	$5K	$17K	10x	as long as short