Funding arb · Price arb /

IO

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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: KuCoin against Binance+0.004%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$204as in the Price arb table

costs, in and out, $10k−$2062.065% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.004%, 7d avg −0.017%

Together, before fees+0.007%+$1 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: KuCoin is 0.021% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IOUSDT	0.1495	0.0100	pay 0.0050% / 4h	1h 23m	$3.0M	$5.0M	50x
Short	KuCoin IOUSDTM	0.1495	0.0100	get 0.0050% / 4h	1h 23m	$349K	$191K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Binance. 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 BinancebpFee KuCoinbpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → −0.017%: $2.12
Slippage, 4 orders: −$184.48
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$204.35
Costs to cover: 2.065%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; KuCoin: live order book, 30 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 Binance live order book, 14 min ago	3.36 bp	24.3 bp −$24	118.6 bp −$1,186	7191.9 bp −$719.2K	doesn't fit
Sell KuCoin live order book, 30 min ago	6.70 bp	70.1 bp −$70	378.9 bp −$3,789	doesn't fit	doesn't fit

IO on 14 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 IO	+0.0100%	1h	0.1495	+0.018%	$993K	$265K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1495	0.000%	$23K	$47K	5x	as long as short
Binance IOUSDTlong	+0.0100%	4h	0.1495	long leg	$3.0M	$5.0M	50x
Bybit IOUSDT	+0.0100%	4h	0.1495	+0.004%	$1.1M	$676K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1495	−0.009%	$229K	$467K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1495	+0.004%	$1.2M	$226K	125x	as long as short
KuCoin IOUSDTMshort	+0.0100%	4h	0.1495	+0.004%	$349K	$191K	50x
Bitget IOUSDT	+0.0100%	4h	0.1497	+0.138%	$1.4M	$1.0M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1496	+0.071%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1493	−0.147%	$30K	$19K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1495	−0.024%	$588	$206K	5x	as long as short
BloFin IO-USDT	+0.0150%	4h	0.1496	+0.071%	$192K	$34K	50x	as long as short
Injective IO/USDC PERP	+0.0204%	1h	0.1492	−0.196%	$2K	$199	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.8552%	1h	0.1496	+0.040%	$39K	$7K	10x	as long as short