Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against KuCoin+0.120%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,104as in the Price arb table

costs, in and out, $10k−$1,11311.126% of the position

Long on KuCoin Short on OKX

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)−0.034%−$3 · spread now +0.120%, 7d avg +0.033%

Together, before fees−0.034%−$3 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: OKX is 0.086% dearer against KuCoin than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin INITUSDTM	0.08348	0.0100	pay 0.0050% / 4h	12m 07s	$324K	$39K	25x
Short	OKX INIT-USDT-SWAP	0.08358	0.0100	get 0.0050% / 4h	12m 07s	$140K	$475K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.120%Rate

Funding earned: $0
Price spread: +0.120% → +0.033%: $8.65
Slippage, 4 orders: −$1,090.64
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$1,103.99
Costs to cover: 11.126%
Break-even: never at this rate

Slippage from KuCoin: live order book, 20 min ago; OKX: live order book, 24 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, 20 min ago	28.58 bp	625.4 bp −$625	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 24 min ago	6.57 bp	52.1 bp −$52	doesn't fit	doesn't fit	doesn't fit

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
Kraken Futures PF_INITUSD	−0.0245%	1h	0.08350	+0.027%	$5K	$15K	10x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08353	+0.066%	$311K	$140K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08360	+0.140%	$28K	$8K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08351	+0.036%	$3.4M	$2.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08348	0.000%	$1.4M	$1.2M	25x	as long as short
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08358	+0.120%	$140K	$475K	10x
Gate INIT_USDT	+0.0100%	8h	0.08342	−0.072%	$82K	$21K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08353	+0.060%	$443K	$171K	20x	as long as short
KuCoin INITUSDTMlong	+0.0100%	4h	0.08348	long leg	$324K	$39K	25x
Bitget INITUSDT	+0.0100%	4h	0.08344	−0.048%	$434K	$230K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08349	+0.012%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08345	−0.033%	$26K	$10K	—	as long as short
BloFin INIT-USDT	+0.0158%	4h	0.08350	+0.024%	$152K	$44K	25x	as long as short